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 lot. Great rental history. 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. 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 decided to include the 2.2 acres. This 2.2 acres added now was appraised in 2018 for $82,000. According to the Seller, 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 companies to do this. If the purchaser of this property wants the subdivision completed, the seller will use his workers to do the work with no markup (at his cost only). 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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- MLS® # 18-9141
- Price $589,900
- Bedrooms 15
- Bathrooms 8.00
- Square Footage 7,669
- Acres 5.00
- Year Built 1980
- Type Multi-Family
- Sub-Type 5+ Units
- Status Active
- Features CO Detector(s), DSL-Cable Available, Smoke Detector(s), In City Limits, RV Parking
- Parking Spaces 20
- Garages None
- Waterfront None
- Heating Baseboard
- Exterior Wood
- Roof Composition, Shingle, Asphalt/Comp Shingle
- Construction Wood Frame
- Foundation Poured Concrete
- Date Listed June 2nd, 2018
- Days on Market 556
- Zoning UNZ - Not Zoned-all MSB but Palmer/Wasilla/Houston
- Listing Office: Keller Williams Realty Alaska Group of Wasilla
- $/SqFt $77
Price & Status History
|Price Reduced from $619,900 to $589,900|
|Price Increased from $615,000 to $619,900|
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High Residential Turnover, Coastal Area
# of Homes SoldWithin the Last Year
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PopulationBased on Nearest ZIP Code
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Listing information last updated on December 10th, 2019 at 4:34am AKST.
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