100 10th Avenue, Fairbanks, AK 99701

$5,750,000
Property Type: Multi-Family Bedrooms: 64 Baths: 64 Square Footage: 59,616 Lot Size (sq. ft.): 100,362 Status: Closed
Current Price: $5,750,000 Last Modified: 9/27/2024

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

Supplements: 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.

More Information MLS# 24-4548

Contract Info

Price-List: 5750000 Date-Listing: 2024-04-28 Status: Closed Foreclosure/Bank Own: No

Sold Info

Date-Pending: 2024-05-14 Date-Closing: 2024-07-01

Location Tax and Legal

Area: 710 - North Fairbanks Street #: 100 Street Name: 10th Arterial: Avenue Closest USPS Town: Fairbanks State: AK Zip Code: 99701

Property Info

Realtor.com Type: Multi-Family Construction Status: Existing Structure Beds: 64 Bathrooms Full: 64 Bathrooms Total: 64 Bldgs-Ttl #: 2 Year Built: 1945 SF-Res: 59616 Number of Units: 64 SF-Lot: 100362 Acres: 2.3 Prkg Spcs: 64 Lot Area Source: Owner Zoning: MF - Multiple Family Residential

Directions and Remarks

Directions: Steese Highway to 10th Avenue, property on Right, next to the Regency Hotel

Building Info

Units-# of 1 BR: 48 Units- # of 2 BR: 16 Vacancy Rate: 5

Mortgage Info

EM Minimum Deposit: 50000

Property Features

Multi-Family Type: Apartment Style; Up and Down; Multi Family Exterior Finish: Vinyl Roof Type: Shingle Foundation Type: Poured Concrete Construction Type: Other Garage Type: None Carport Type: None Heating: Other Sewer-Type: Public Sewer Water Source: Public Access Type: Paved Wtrfrnt-Frontage: None Wtrfrnt-Access Near: None Features-MultiFamily: CO Detector(s); Inground Sprnklr Sys; Laundry Facility; Smoke Detector(s); Tenant Storage Listing Terms Financing: 1031 Exchange; Cash; Conventional

Documents

Listing Office: NextHome Arctic Sun
Last Updated: September - 27 - 2024
100 10th Avenue, Fairbanks, AK 99701- MLS# 24-4548
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 the site owner are marked with 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. Site contains live data.