$5,750,000
$5,750,000
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64 Beds
64 Baths
59,616 SqFt
SOLD DATE : 07/01/2024
Key Details
Sold Price $5,750,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 59,616 sqft
Price per Sqft $96
MLS Listing ID 24-4548
Sold Date 07/01/24
Bedrooms 64
Full Baths 64
Construction Status Existing Structure
Originating Board Alaska Multiple Listing Service
Year Built 1945
Lot Size 2.304 Acres
Acres 2.0
Property Description
Welcome to the Dixon Apartments, a prime investment opportunity nestled in the heart of Fairbanks. This multi-family complex offers a total of 64units spread across two well-maintained buildings, presenting an excellent chance for investors seeking stable returns and long-term growth. The complex offers a mix of unit sizes, including one-bedroom, and two-bedroom apartments, catering to a diverse Welcome to the Dixon Apartments, a prime investment opportunity nestled in the heart of Fairbanks. This multi-family complex offers a total of 64 units spread across two well-maintained buildings, presenting an excellent chance for investors seeking stable returns and long-term growth. The complex offers a mix of unit sizes, including one-bedroom, and two-bedroom apartments, catering to a diverse tenant base. In addition to residential units, the property includes 60+ indoor storage units, providing an opportunity for supplementary income. Over the years, several upgrades have been made, including a new sewer line (2019), exterior insulation, new siding, and storm windows (2009), and interior renovations as needed, ensuring the property remains attractive and competitive. Each building features coin-operated laundry facilities, providing convenience for tenants and additional revenue streams for the owner. Conveniently situated off Steese Highway on 10th Avenue, the Dixon Apartments offer easy access to amenities, schools, and transportation routes. With a current 5% vacancy rate and well-maintained facilities, the Dixon Apartments present a compelling investment opportunity with significant upside potential. Efficient management and strategic marketing initiatives can further enhance rental income and maximize returns for investors. Don't miss out on this exceptional investment opportunity in Fairbanks. Whether you're a seasoned investor or exploring your first venture in real estate, the Dixon Apartments offer a solid foundation for long-term success. Call today to schedule a private viewing and take the first step toward building your investment portfolio.
Location
State AK
Area 710 - North Fairbanks
Zoning MF - Multiple Family
Direction Steese Highway to 10th Avenue, property on Right, next to the Regency Hotel
Interior
Heating Other
Exterior
Garage None
Roof Type Shingle
Building
Foundation Poured Concrete
Lot Size Range 2.0
Sewer Public Sewer
New Construction No
Construction Status Existing Structure
Schools
Elementary Schools Ann Wien
Middle Schools Ryan
High Schools Lathrop
Others
Tax ID 0649034
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
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