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Norsemen 1901 Mary Ann St 49 Unit Apartment Building $2,215,000 ($45,204/Unit) Fairbanks, AK 99701
Investment Highlights
- Heavy Day Time Traffic
- Convenient Location
Executive Summary
This 44 unit complex consists of 5 individual 1 bedroom homes, an 18plex, a 7plex, and a 14plex. The 18plex and the 14plex were both remote walled insulated about 10 years ago. the 18plex R52 wall and the 14plex has a R48, with all windows replaced, and bathroom fans added to both complexes, new pitched roof was added to the 14plex approx. 8 years ago. All buildings have had new natural gas condensing boilers added in the last 5 years. First showing will consist of 5-6 units giving you a feel for the buildings. Minimum of 5 day notice required to accommodate setting up appointments, listing agent to accompany showings. Not included in the sf is additional 10500sf heated basements, great storage areas, this puts a total of 30,000 under roof of heated space.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$429,600
|
$7.54
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$429,600
|
$7.54
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$156,731
|
$2.75
|
| Net Operating Income |
$272,869
|
$4.79
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $429,600 |
| Annual Per SF | $7.54 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $429,600 |
| Annual Per SF | $7.54 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $156,731 |
| Annual Per SF | $2.75 |
| Net Operating Income | |
|---|---|
| Annual | $272,869 |
| Annual Per SF | $4.79 |
Property Facts
| Price | $2,215,000 | Building Class | C |
| Price Per Unit | $45,204 | Lot Size | 5.21 AC |
| Sale Type | Investment | Building Size | 57,000 SF |
| No. Units | 49 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1958/2018 |
| Property Subtype | Apartment | Parking Ratio | 0.18/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | MF, Fairbanks - Multiple-Family Residential/Professional Office District | ||
| Price | $2,215,000 |
| Price Per Unit | $45,204 |
| Sale Type | Investment |
| No. Units | 49 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.21 AC |
| Building Size | 57,000 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1958/2018 |
| Parking Ratio | 0.18/1,000 SF |
| Zoning | MF, Fairbanks - Multiple-Family Residential/Professional Office District |
Amenities
Unit Amenities
- Cable Ready
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Range
- Yard
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 26 | - | 240 - 340 |
| 1+1 | 15 | - | 750 - 850 |
| 2+1 | 3 | - | 1,000 |
1 1
Property Taxes
| Parcel Number | 516538 | Improvements Assessment | $822,550 (2025) |
| Land Assessment | $59,223 (2025) | Total Assessment | $881,773 (2025) |
Property Taxes
Parcel Number
516538
Land Assessment
$59,223 (2025)
Improvements Assessment
$822,550 (2025)
Total Assessment
$881,773 (2025)
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Norsemen | 1901 Mary Ann St
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