4360 Spenard Road, Anchorage, AK 99517 (MLS# 23-1834)
$5,800,000
Anchorage, AK 99517
MLS# 23-1834
69876 sqft
1 / 8
Property Description
REDEVELOPMENT OPPORTUNITY!! 60 unit Multifamily and 42 room hotel for sale in a package deal! The front building was built in 1984 as a drive-in hotel for commercial airlines pilots while the back building was built in 1969 as an apartment community for oil workers. This asset has great income year round. The front building suffered a fire in 2022 while the back building still operates as STRs.
Details
Maps
Documents
Contract Info
Price-List: 5800000
Date-Listing: 2023-03-01
Status: Active
Commission Type: %
Commission to SO: 2
Foreclosure/Bank Own: No
Location, Tax and Legal
Region: 1 - Southcentral Alaska Region
Borough/Census Area: 1A - Anchorage Municipality
Area: 10 - Spenard
Street #: 4360
Street Name: Spenard
Arterial: Road
Closest USPS Town: Anchorage
State: AK
Zip Code: 99517
Grid # (Muni Anch): SW1727
Tax Map #-Mat-Su: N/A
School-Elementary: Lake Hood
School-Middle: Romig
School-High: West Anchorage
Legal: Green Valley #1 TR C
Property Info
Realtor.com Type: Multi-Family
Construction Status: Existing Structure
Bldgs-Ttl #: 2
Year Built: 1969
SF-Res: 69876
Number of Units: 102
SF-Lot: 78287
Acres: 1.8
Prkg Spcs: 109
Lot Area Source: Tax Authority
Zoning: B3 - General Business
Directions and Remarks
Directions: East on Spenard from Minnesota, to your right.
Mortgage Info
EM Minimum Deposit: 50000
Property Features
Multi-Family Type: Apartment Style; 5+ Units; Other - See Remarks
Exterior Finish: Stucco; Wood
Roof Type: Rolled/Hot Mop; Shingle
Foundation Type: Unknown-BTV
Construction Type: Wood Frame
Garage Type: None
Carport Type: None
Heating: Baseboard; Natural Gas
Sewer-Type: Public Sewer
Water-Type: Public
Access Type: Paved; Maintained
View Type: City Lights; Lake
Topography: Level
Wtrfrnt-Frontage: None
Wtrfrnt-Access Near: None
Features-MultiFamily: Handicap Accessible
Flooring: Laminate Flooring; Luxury Vinyl Plank; Carpet
New Finance (Terms): Cash; Conventional; Other-See Remarks
Supplements
The main building suffered from a fire in 2022 and 17 of the 42 rooms were burn down. The remaining 25 rooms have smoke damage to be cleaned. This is a great opportunity for an investor to redevelop the 42 room hotel and continue operations of the apartment building as long term rentals.
Non Disclosure 
Listing Office: Jack White Real Estate
Last Updated: March - 30 - 2024
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.