1533 LACEY STREET
Property Description
As close to a new multifamily build as you can get in Fairbanks today! This fully remodeled apartment building, originally constructed as a 60 unit hotel and thoughtfully converted into 44 modern residential units. The Building was remote- walled insulated adding 9 inches to the exterior making the walls 15" thick, making it extremely efficient, only using approximately $10,000 a year in natural gas. Every unit has been updated to meet contemporary standards, creating an efficient, attractive living environment that supports strong tenant demand and long-term stability. Ideally located close to downtown, with convenient access to shopping centers, parks, and schools, the property benefits from a prime, centralized setting that appeals to a wide range of renters. The layout and scale provide excellent operational efficiency while maintaining flexibility for future value-add strategies. With approximately $713,000 in annual income, this property stands out as a solid, income-producing investment well-suited for both seasoned investors and those looking to expand their multifamily portfolio. A turnkey opportunity combining location, scale, and proven cash flow
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $8,750,000 |
| No. of Units: | 44 |
| Year Built: | 1974 |
| Lot Size: | 28,204.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $198,864 |
| Property Website | Click Here |
| Number of Bedrooms: | 24 |
| Number of Bathrooms: | 44 |
ID: 3yd-GFBRAK-159243
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout