609 Cobb StPalmer, AK 99645
- Apartment buildings
- 6,096 SF
Property Details for 609 Cobb St
- Year built
- 1976
- Lot size
- 0.22 AC
- Property size (Sq ft)
- 6,096 SF
- Property type
- Apartment buildings
Description
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.
Location Insight
- City
- Palmer
- County
- Matanuska-Susitna
- State
- Alaska
- Latitude
- 61.6012
- Longitude
- -149.118
Comparable in this City
Similar Nearby for Sale
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