205 A Street

Description

Excellent opportunity to own an established income-producing property, expand your rental portfolio, or continue operating a successful short-term rental business. This 4-plex property features a total of eight rentable units, including four apartments and four individual rooms, all of which may be utilized for short-term or long-term rentals. The current owners have meticulously maintained the property and have enjoyed strong success with their rental operation. A detailed list of upgrades, maintenance items, and most personal property included in the sale can be found in the associated documents. Nearly all furnishings convey with the property, with the exception of a Korean hutch and cabinet. Yard maintenance equipment is also included. The property is equipped with multiple hot water heaters, providing ample hot water capacity for all units, including the Jacuzzi tub located in Unit #9. Current rental rates are below market and offer significant upside potential. Individual rooms have the potential to rent for approximately $100 per night when operated as hotel-style accommodations. The apartments are currently rented at approximately $1,400 per month, which is considered below market value. The main-floor apartment, which includes a 662-square-foot attached two-car garage, has an estimated rental potential of approximately $2,400 per month. Conveniently located in the heart of Fairbanks, this property offers easy access to shopping, restaurants, schools, medical facilities, Fort Wainwright, and the University of Alaska Fairbanks. Its central location is attractive to both short-term visitors and long-term tenants, helping support strong occupancy potential year-round. The owners currently occupy one of the units.