For Sale
$725,000

609 Cobb St Palmer, AK 99645

Six-unit apartment building, high demand area, seller financing.

Overview

Added:
Dec 11, 2024
Days on market:
138
This fully occupied, six-unit apartment building at 609 S. Cobb St, Palmer, AK 99645, presents a compelling value-add investment opportunity. The 6,096 square foot building, constructed in 1976, sits on a 0.22-acre lot and boasts a Class B designation. Currently operating at 100% occupancy, the property offers six parking spaces and features two stories. The asking price is $725,000, translating to $118.93 per square foot and $120,833.33 per unit. Located in the heart of Palmer's commercial district, near the Palmer Post Office, this property offers significant upside potential. Current rents are below market rates, with month-to-month tenants, providing immediate opportunities for rental increases. The property's central location also makes it suitable for repositioning into an office building for an owner-user. Seller financing is available with a substantial down payment. This is an exceptional chance to acquire a well-located multifamily property with strong potential for increased profitability.

Highlights

  • Fully occupied six-unit apartment building in Palmer, AK.
  • 6,096 square foot building on a 0.22-acre lot, built in 1976, Class B.
  • $725,000 asking price; $118.93/SF; $120,833.33 per unit.
  • Six parking spaces, two stories, 100% occupancy with month-to-month tenants.
  • Located in Palmer's commercial district, near the Palmer Post Office; below-market rents offer immediate upside.
  • Seller financing available with significant down payment.

Property Details for 609 Cobb St

Property type
Apartment buildings
Square Feet
6,096 SF
Class
B
Year Built
1976
Buildings
1
Stories
2
Lot Size (sq. ft)
9,583 SF
Units
6

Location Insight

City
Palmer
County
Matanuska-Susitna
State
Alaska
Latitude
61.601182426475
Longitude
-149.11823088588

FAQs

What type of property is this?
Apartment building - Six-unit apartment building, high demand area, seller financing.
Where is the apartment building located?
The property is located at 609 Cobb St Palmer, AK.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Fully occupied six-unit apartment building in Palmer, AK.; 6,096 square foot building on a 0.22-acre lot, built in 1976, Class B.; $725,000 asking price; $118.93/SF; $120,833.33 per unit.
How can I contact the broker?
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609 Cobb St
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