MatSu Living

16528 Kings Way Drive, Anchorage, AK 99516

$1,150,000
Property Type: Multi-Family Bedrooms: 8 Baths: 9 Square Footage: 7,316 Lot Size (sq. ft.): 591,196 Status: Active
Current Price: $1,150,000 Last Modified: 4/23/2026

Description

Purpose-built residence that functions as a small multifamily while retaining single-family zoning. Multiple private suites with ensuite baths and decks allow flexibility for owner-occupants, guests, or rentals. Radiant heat, durable metal roof and siding, strong well water, and thoughtful separation support B&B, retreat, or income-producing use.

Supplements: This Bear Valley property was intentionally designed for flexibility, privacy, and shared livingmaking it uniquely well suited for owner-operators, multi-generational households, or small-scale hospitality use. Set on 13.57 acres with over 7,500 square feet, the eight-bedroom, nine-bath layout offers multiple private suites, many with ensuite baths and decks or patios, allowing occupants to live independently while remaining part of a cohesive property. The top floor functions as a penthouse-style owner's retreat, while the rest of the home was thoughtfully built to support guests, renters, or extended family. Radiant-floor heat, durable concrete floors, metal siding, and a metal roof support four-season use with low-maintenance practicality. Separate access points, strong well water, and a three-car heated garage with RV parking further enhance usability. The pond and Little Rabbit Creek add a sense of calm and separation rarely found in income-capable properties this close to Anchorage. Designed with B&B and retreat potential in mind, each bedroom was given "something" unique so no space feels secondary. Bear Valley's single-entry setting provides privacy and a true neighborhood feel, while still offering a 20-25 minute drive to the airport, midtown, and downtown Anchorage.

More Information MLS# 26-1101

Contract Info

Price-List: 1150000 Date-Listing: 2026-02-05 Status: Active Foreclosure/Bank Own: No

Location Tax and Legal

Area: 25 - Dearmoun Rd - Potter Marsh Street #: 16528 Street Name: Kings Way Arterial: Drive Closest USPS Town: Anchorage State: AK Zip Code: 99516

Property Info

Realtor.com Type: Multi-Family Construction Status: Existing Structure Beds: 8 Bathrooms Full: 9 Bathrooms Total: 9 Bldgs-Ttl #: 1 Year Built: 2002 SF-Res: 7316 Number of Units: 8 SF-Lot: 591196 Acres: 13.57 Garage Spaces: 3 Prkg Spcs: 3 Lot Area Source: Tax Authority Zoning: R10 - Residential Alpine/Slope

Directions and Remarks

Directions: From Downtown Anchorage: Follow AK-1 S to Old Seward Hwy. Take the Old Seward Hwy exit from AK-1 S 9.1 mi Take Rabbit Creek Rd and Clarks Rd to your destination on Right 5.7 mi

Waterfront Details

Waterfront Name: Little Rabbit Creek

Property Features

Multi-Family Type: Up and Down Foundation Type: Block; Slab Garage Type: Attached Carport Type: None Heating: Natural Gas; Radiant Floor Sewer-Type: Septic Tank Water Source: Well View Type: City Lights; Inlet; Mountains Wtrfrnt-Frontage: Creek; Pond Wtrfrnt-Access Near: Creek; Pond To Show: ShowingTime Listing Terms Financing: Cash; Conventional; Owner Finance; VA Loan

Documents

Listing Office: Alaska Statewide Realty Co
Last Updated: April - 23 - 2026
16528 Kings Way Drive, Anchorage, AK 99516- MLS# 26-1101
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.
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