505 W 2nd Avenue, Anchorage, AK 99501

/505 W 2nd Avenue, Anchorage, AK 99501
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505 W 2nd Avenue, Anchorage, AK 99501

Multi-Family For Sale

505 2nd Avenue

Anchorage, AK 99501

Sale Overview

Price:
$4,900,000
Property Type:
Multi-Family
Property Subtype:
5+ Units
Building Size:
22,050 SF
Year Built:
1950
Lot Size:
19,198 SF
Zoning:
B2C - Central Business SF

Description

Well-appointed one bedroom corporate suites right in the heart of downtown. This investment property caters to business professionals & is the perfect investment with upside opportunities! 12 year property tax credit just went into effect. The building is equipped with an elevator & fully sprinklered. This sale includes the separate parking lot that has a huge upside development opportunity! Each unit leases for $1820 per month, providing consistent rental income with high occupancy rates and potential for long-term appreciation. Due to its conversion into a long-term residential housing from being a hotel, Anchorage Grand Apartments qualified for the downtown property tax exemption starting for 12 years starting 2023!

AKMLS Listing Office

Real Broker Alaska

23-5295

Alaska MLS

DISCLAIMER: The listing content relating to real estate for sale or lease 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 Northern Edge Realty, Infinity Commercial Real Estate Group and Ravenwood Real Estate are marked with either the listing brokerage's logo or 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. Listing information was last updated on: 2024-05-24