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3397 Bellwood Street

North Pole, AK 99705
  • $3,100,000
  • STATUS: Active
  • MLS #: 146887
UPDATED: 16 min ago
$3,100,000
  • 140
    BEDS
  • 6.45
    ACRES
  • 70
    BATHS
  • 0
    1/2 BATHS
  • 41,768
    SQFT
  • $74
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1965
Area:

School Information

Elementary School:
Middle School:
High School:

Description

70 Unit, 2 bedroom 1 bath, Apartment Complex on nearly 6.5 acres with significant capital upgrades. Vacancy Rates are consistently low with a current waiting list for new tenants. Consistently High Cap Rate under the current Ownership and Management. Great investment opportunity priced below July 2011 appraisal of $3.4 million. Capital upgrades include three new Buderus Boilers with Tekmar controller (2006), Hot water maker (2009), Fuel-Saving Coal boiler (2009), Engineered Septic System and leach field (2003), New Well system (2005) with Complex to be connected to North Pole City Water soon, Improved Dryer Ducting (2007), and Exterior Paint (2008), New Class C Septic System recently completed with two leach fields and Water Treatment Facility Building completed (paid for by DOD) with Building to remain on property after connection to North Pole City Water. Staff includes an on-site manager, one maintenance personnel and a cleaner. All units are nicely maintained and the grounds are in superb condition. On-site maintenance shop makes for quick work of any needed repair. The on-site laundry room is clean and tidy and has 5 coin-operated washers and dryers for tenant needs. Rent roll shows outstanding high occupancy rates with minimal, if any, vacancies. Financials and Analysis package available upon request with signed non-disclosure and proof Financial Eligibility to purchase. Great opportunity for adding additional rental units or storage units on the south side of the parcel.

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IDX information © 2021 Greater Fairbanks Board of Realtors Multiple Listing Service.IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but not guaranteed accurate by the MLS or RE/MAX Associates of Fairbanks.
www.homesforsalefairbanksak.com/homes/116635543
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3397 Bellwood Street North Pole, AK 99705

  • Price: $3,100,000
  • Status: Active
  • Updated: 16 min ago
  • MLS #: 146887
140
Beds
70
Baths
0
½ Baths
6.45
Acres
41,768
SQFT
$74
$/SQFT
1965
Built
Neighborhood:
2S 3E
Area:
Salcha
Elementary School:
Crawford
Middle School:
Eielson
High School:
Eielson
Property Description
70 Unit, 2 bedroom 1 bath, Apartment Complex on nearly 6.5 acres with significant capital upgrades. Vacancy Rates are consistently low with a current waiting list for new tenants. Consistently High Cap Rate under the current Ownership and Management. Great investment opportunity priced below July 2011 appraisal of $3.4 million. Capital upgrades include three new Buderus Boilers with Tekmar controller (2006), Hot water maker (2009), Fuel-Saving Coal boiler (2009), Engineered Septic System and leach field (2003), New Well system (2005) with Complex to be connected to North Pole City Water soon, Improved Dryer Ducting (2007), and Exterior Paint (2008), New Class C Septic System recently completed with two leach fields and Water Treatment Facility Building completed (paid for by DOD) with Building to remain on property after connection to North Pole City Water. Staff includes an on-site manager, one maintenance personnel and a cleaner. All units are nicely maintained and the grounds are in superb condition. On-site maintenance shop makes for quick work of any needed repair. The on-site laundry room is clean and tidy and has 5 coin-operated washers and dryers for tenant needs. Rent roll shows outstanding high occupancy rates with minimal, if any, vacancies. Financials and Analysis package available upon request with signed non-disclosure and proof Financial Eligibility to purchase. Great opportunity for adding additional rental units or storage units on the south side of the parcel.
Exterior Features

Apx Garage Sq Ft 1587 Construction 2X6 Exterior Features Cable TvDeck/PatioLawnNaturalShedTelephone ServiceWorkshop Exterior Finish T1-11 Foundation Poured Concrete Garage Capacity Per Unit 0 Garage Type Attached/Htd Parking Spaces 116 Road Access GravelMaintainedPaved Roof Shingle Windows Double PaneWood

Interior Features

Appliances Range/OvenRefrigeratorWasherDryer Basement Partial Size Bedrooms Per Unit Two Configuration Apartment Style Heating Hot Water BaseboardOutdoor Boiler Interior Features Smoke Detectors Laundry Basement Other Rooms Arctic EntryWorkshop

Property Features

Age 20 + Yrs. Apod YN Yes Assessments YN Unknown Fire Service Public For Sale Or Rent For Sale Fuel Source OilCoal Hoa Dues Monthly N/A Lot Tracts A-1B-1C & D Multifamily Type Other/See Remarks Possession Recording Reo YN No Road Service Public Sewer Private Short Sale YN No Taxes $49982.10 Terms Cash/Refinance Units Efficiency 0 Units Four Bedroom 0 Units One Bedroom 0 Units Three Bedroom 0 Units Two Bedroom 70 Water AvailablePrivate WellPublic Zoning General Use District - 1 Zoning Overlay Unk

Listing provided courtesy of Butch Currier of Somers Sotheby's.
IDX information © 2021 Greater Fairbanks Board of Realtors Multiple Listing Service.IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but not guaranteed accurate by the MLS or RE/MAX Associates of Fairbanks.
 
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RE/MAX Associates of Fairbanks
105 Adak Avenue
Fairbanks AK, 99701