12251 E Helen Drive, Palmer

  • Price$619,900
  • Beds15
  • Baths8
  • Sq. Ft.7,669

Incredible opportunity to own this 8-plex in Palmer City Limits w/ public water on 5 acre lot. 2.2 of the 5 acres is almost fully ready to finish subdividing. Would make a great commercial or multi-family building lot. Great rental history, fully rented now. Approx. NOI of $53,156 per year. 8-plex and 2.2 acre lot appraised for $687,000 in 2018. Excellent deal, don't miss this one!This property has tons of potential. The owners have spent a lot of energy over the last year in turning the property around. They have got new tenants, a great property manager who lives in the building and more. 4 of the tenants work for the owner in a separate playground/turf and flooring company that he owns. Prior to recording the seller will do some additional site work including; a volley-board court area and a kid play area with playground equipment. He will also add some nice grassy areas and really clean the exterior of the land around the 8-plex up. If a buyer wanted, the seller will supply the labor to put in a cedar fence to break up the two properties, buyer would only be responsible for materials. The 8-plex was previously listed for sale on 2.8 acres for $596,400. This was not including the 2.2 acres adjoining this property that is almost finished subdividing. The seller just decided to include the 2.2 acres and only raised the price to $619,900. This 2.2 acres added now was just appraised in 2018 for $82,000. There are current comparables that justify even more value than that. The last thing needed to subdivide this lot off of the main lot containing the 8-plex is to run the city water line to the 2.2 acres. The seller has seen estimates around $15,000 from other companies to do this. If the purchaser of this property wants the subdivision completed, the seller will do the work for $7,500 and if it costs more than that, the seller will make up the difference. The seller will also provide a $10,000 flooring allowance that can be used for two years from the date of recording to replace flooring as needed in the 8-plex.

Essential Information

  • MLS® #18-9141
  • Price$619,900
  • Bedrooms15
  • Bathrooms8.00
  • Square Footage7,669
  • Acres5.00
  • Year Built1980
  • TypeMulti-Family
  • Sub-Type5+ Units
  • StatusActive

Amenities

  • FeaturesCO Detector(s), In City Limits, Smoke Detector(s), DSL-Cable Available, RV Parking
  • Parking Spaces20
  • GaragesNone
  • WaterfrontNone

Exterior

  • ExteriorWood
  • RoofAsphalt/Comp Shingle
  • ConstructionWood Frame
  • FoundationPoured Concrete

Additional Information

  • Days on Market380
  • ZoningUNZ - Not Zoned-all MSB but Palmer/Wasilla/Houston

Community Information

  • Address12251 E Helen Drive
  • AreaPA - Palmer
  • SubdivisionT17NR02ES05 C010
  • CityPalmer
  • StateAlaska
  • Zip Code99645

Interior

  • HeatingBaseboard

School Information

  • ElementarySherrod/Swanson
  • MiddlePalmer
  • HighPalmer

Listing Details

  • Listing Agent:Dustin Renner
  • Listing Office:Keller Williams Realty Alaska Group Of Wasilla
Please provide a valid email address.

DISCLAIMER: The listing content relating to real estate for sale on this web site comes in part from the Alaska Listing ExchangeSM (ALE) of Alaska Multiple Listing Service, Inc. (AK MLS). Real estate listings held by brokerage firms other than RE/MAX Dynamic Properties are marked with either the listing brokerage's logo or the ALE 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.

Listing information is updated daily.

Copyright 2019 Alaska Multiple Listing Service, Inc. All rights reserved.

Listing information last updated on June 16th, 2019 at 6:19pm AKDT.