3397 Bellwood Street, North Pole, AK 99705
Listing Presented By
Madden Real Estate With Keller Williams Realty
Commercial - North Pole, AK
Great investment opportunity that is priced below July 2011 appraisal of $3.4 million. This 70 unit apartment complex on nearly 6.5 acres has had significant capital upgrades, low vacancy rates, and a consistent cap rate under the current ownership. 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), improved dryer ducting (2007), and exterior paint (2008). 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 occupancy rates with minimal, if any, vacancies. Financials and property analysis package available upon request with signed non-disclosure.
Built In: 1965
Last Updated: March 3, 2017
Posted: June 26, 2016