12251 E Helen Drive

    Palmer, AK 99645
    • $589,900
    • STATUS: Active
    • ON SITE: 507 days
    • MLS #: 18-9141
    UPDATED: 11 min ago
    $589,900
    • 15
      BEDS
    • 5
      ACRES
    • 8
      BATHS
    • 0
      1/2 BATHS
    • 7,669
      SQFT
    • $77
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1980
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:

    Description

    Incredible opportunity to own this 8-plex in Palmer City Limits w/ public water on 5 acre lot. 2.2 of the 5 acres is almost fully ready to finish subdividing. Would make a great commercial or multi-family building lot. Great rental history, fully rented now. Approx. NOI of $53,156 per year. 8-plex and 2.2 acre lot appraised for $687,000 in 2018. Excellent deal, don't miss this one!This property has tons of potential. The owners have spent a lot of energy over the last year in turning the property around. They have got new tenants, a great property manager who lives in the building and more. 4 of the tenants work for the owner in a separate playground/turf and flooring company that he owns. Prior to recording the seller will do some additional site work including; a volley-board court area and a kid play area with playground equipment. He will also add some nice grassy areas and really clean the exterior of the land around the 8-plex up. If a buyer wanted, the seller will supply the labor to put in a cedar fence to break up the two properties, buyer would only be responsible for materials. The 8-plex was previously listed for sale on 2.8 acres for $596,400. This was not including the 2.2 acres adjoining this property that is almost finished subdividing. The seller just decided to include the 2.2 acres and only raised the price to $619,900. This 2.2 acres added now was just appraised in 2018 for $82,000. There are current comparables that justify even more value than that. The last thing needed to subdivide this lot off of the main lot containing the 8-plex is to run the city water line to the 2.2 acres. The seller has seen estimates around $15,000 from other companies to do this. If the purchaser of this property wants the subdivision completed, the seller will do the work for $7,500 and if it costs more than that, the seller will make up the difference. The seller will also provide a $10,000 flooring allowance that can be used for two years from the date of recording to replace flooring as needed in the 8-plex.

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    DISCLAIMER: 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 Wolf Real Estate Professionals 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: 2019-10-22T05:39:09.017.
    www.anchoragehomesearch.com/homes/84184481

    12251 E Helen Drive Palmer, AK 99645

    • Price: $589,900
    • Status: Active
    • Updated: 11 min ago
    • MLS #: 18-9141
    15
    Beds
    8
    Baths
    0
    ½ Baths
    5
    Acres
    7,669
    SQFT
    $77
    $/SQFT
    1980
    Built
    Neighborhood:
    Palmer
    Area:
    Palmer
    Elementary School:
    Sherrod/Swanson
    Middle School:
    Palmer
    High School:
    Palmer
    Property Description
    Incredible opportunity to own this 8-plex in Palmer City Limits w/ public water on 5 acre lot. 2.2 of the 5 acres is almost fully ready to finish subdividing. Would make a great commercial or multi-family building lot. Great rental history, fully rented now. Approx. NOI of $53,156 per year. 8-plex and 2.2 acre lot appraised for $687,000 in 2018. Excellent deal, don't miss this one!This property has tons of potential. The owners have spent a lot of energy over the last year in turning the property around. They have got new tenants, a great property manager who lives in the building and more. 4 of the tenants work for the owner in a separate playground/turf and flooring company that he owns. Prior to recording the seller will do some additional site work including; a volley-board court area and a kid play area with playground equipment. He will also add some nice grassy areas and really clean the exterior of the land around the 8-plex up. If a buyer wanted, the seller will supply the labor to put in a cedar fence to break up the two properties, buyer would only be responsible for materials. The 8-plex was previously listed for sale on 2.8 acres for $596,400. This was not including the 2.2 acres adjoining this property that is almost finished subdividing. The seller just decided to include the 2.2 acres and only raised the price to $619,900. This 2.2 acres added now was just appraised in 2018 for $82,000. There are current comparables that justify even more value than that. The last thing needed to subdivide this lot off of the main lot containing the 8-plex is to run the city water line to the 2.2 acres. The seller has seen estimates around $15,000 from other companies to do this. If the purchaser of this property wants the subdivision completed, the seller will do the work for $7,500 and if it costs more than that, the seller will make up the difference. The seller will also provide a $10,000 flooring allowance that can be used for two years from the date of recording to replace flooring as needed in the 8-plex.
    Exterior Features

    Access Type Dedicated RoadMaintained Carport Spaces 0 Carport Type None Construction Type Wood Frame Exterior Finish Wood Foundation Type Poured Concrete Garage Type None Parking Spaces 20.00 Roof Type AsphaltCompositionShingle Topography Level Waterfront Access Near None Waterfront Frontage None

    Interior Features

    Fuel Type Natural Gas Heat Type Baseboard

    Property Features

    Borough Census Area 1D - Matanuska Susitna Borough Construction Status Existing Structure Exp Annual 25444.00 Features Multifamily Co Detector(S)Dsl-Cable AvailableIn City LimitsRv ParkingSmoke Detector(S) Foreclosure Bank Owned No Income Gross Annual 55656.00 Mortgage Info EMMinimum Deposit 6000.00 Multifamily Type 5+ Units New Finance Terms ConventionalOther-See Remarks Region 1 - Southcentral Alaska Region Sewer Type Septic Tank Water Type Public Zoning Unz - Not Zoned-All Msb But Palmer/Wasilla/Houston

    Listing Office Keller Williams Realty Alaska Group Of Wasilla. Copyright 2019 Alaska Multiple Listing Service, Inc. All rights reserved.
    DISCLAIMER: 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 Wolf Real Estate Professionals 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: 2019-10-22T05:39:09.017.
     
    Wolf Real Estate Professionals
    3350 Midtown Place
    Anchorage AK, 99503