508 & 506 Madison Street, Seward, AK 99664

$390,000
Property Type: Multi-Family Bedrooms: 4 Baths: 2 Square Footage: 1,200 Lot Size (sq. ft.): 6,098 Status: Active
Current Price: $390,000 Last Modified: 2/07/2026

Description

Rare opportunity to purchase two homes on two individual lots. Each home features 2 bedrooms, 1 bathroom, and approximately 600 square feet. Lots measure approximately 30' x 100' each. Both homes are currently tenant occupied, generating $1,135 per month per unit plus utilities, for a total of $2,270/month in gross income.

Supplements: Current leases are in place through May 31, 2026. Located in the Urban Residential zoning district, which allows a variety of residential uses and provides future development flexibility. This is an excellent opportunity for investors, buyers seeking multiple rental units, or those looking to secure side-by-side properties with long-term potential. Buyer to verify all information to their satisfaction. Property includes garage/storage sheds currently used for storage. These structures are nonconforming to current city code and may be required to be removed if modifications are made to any of the existing structures. Buyer to verify with the City of Seward. Please review marketing package under the documents tab for more information!

More Information MLS# 26-638

Contract Info

Foreclosure/Bank Own: No Price-List: 390000 Date-Listing: 2026-01-23 Status: Active

Location, Tax and Legal

Region: 1 - Southcentral Alaska Region Borough/Census Area: 1B - Kenai Peninsula Borough Grid # (Muni Anch): N/A Tax Map #-Mat-Su: N/A Legal: Original Townsite Of Seward L19-20 B31 School-Elementary: Seward School-Middle: Seward School-High: Seward

Property Info

Realtor.com Type: Multi-Family Construction Status: Existing Structure Bathrooms Half: 0 Bathrooms Three Quarter: 1 Bathrooms Full: 1 Bathrooms Total: 2 Bldgs-Ttl #: 2 Acres: 0.14 SF-Lot: 6098.4 Lot Area Source: Tax Authority Zoning: UR - Urban Residential Garage Spaces: 0 Carport Spaces: 0 Prkg Spcs: 4 Beds: 4 Year Built: 1948 SF-Res: 1200 Number of Units: 2

Directions and Remarks

Directions: From Seward Hwy heading south, turn left on Madison St. Property is on the left, directly across the street from the post office.

Multi-Family Type

Duplex: 1 Side by Side: 1

Listing Terms Financing

Cash: 1 Conventional: 1

Exterior Finish

Unknown - BTV: 1

Heating

Kerosene: 1 Oil: 1

Topography

Level: 1 Sloping: 1

Roof Type

Metal: 1

Foundation Type

Unknown - BTV: 1

View Type

Bay: 1 Glacier: 1 Mountains: 1 Ocean: 1

Wtrfrnt-Access Near

Bay: 1 Ocean: 1

Garage Type

Other-See Remarks: 1

Wtrfrnt-Frontage

None: 1

Carport Type

None: 1

Flooring

Carpet: 1 Laminate: 1

Sewer-Type

Public Sewer: 1

Water Source

Public: 1

Access Type

Gravel: 1 Paved: 1 Maintained: 1

Mortgage Info

EM Minimum Deposit: 4000

Features-MultiFamily

In City Limits: 1 Smoke Detector(s): 1 Washer/Dryer: 1 RV Parking: 1

Docs Avl for Review

As-Built: 1 Docs Posted on MLS: 1 Lease: 1 Prop Discl Available: 1

Unit #1

Bath-Three Qtr: 1 Bedroom: 2 Kitchen: 1 Living Room: 1 Parking Spaces: 2

Unit #2

Bath-Three Qtr: 1 Bedroom: 2 Kitchen: 1 Living Room: 1 Parking Spaces: 2

Location Tax and Legal

Area: 365 - Seward - Cooper Landing Street #: 508 & 506 Street Name: Madison Arterial: Street Closest USPS Town: Seward State: AK Zip Code: 99664

Property Features

Multi-Family Type: Duplex; Side by Side Exterior Finish: Unknown - BTV Roof Type: Metal Foundation Type: Unknown - BTV Garage Type: Other-See Remarks Carport Type: None Heating: Kerosene; Oil Sewer-Type: Public Sewer Water Source: Public Access Type: Gravel; Paved; Maintained View Type: Bay; Glacier; Mountains; Ocean Topography: Level; Sloping Wtrfrnt-Frontage: None Wtrfrnt-Access Near: Bay; Ocean Features-MultiFamily: In City Limits; Smoke Detector(s); Washer/Dryer; RV Parking Flooring: Carpet; Laminate Docs Avl for Review: As-Built; Docs Posted on MLS; Lease; Prop Discl Available Listing Terms Financing: Cash; Conventional

Documents

Listing Office: Seward Properties
IDX
Last Updated: February - 07 - 2026
The listing content relating to real estate for sale on this web site comes in part from the IDX Program of Alaska Multiple Listing Service, Inc. (AK MLS). Real estate listings held by brokerage firms other than the site owner are marked with the AK MLS logo and information about them includes the name of the listing brokerage. All information is deemed reliable but is not guaranteed and should be independently verified for accuracy. Site contains live data.