$1,150,000
16528 Kings Way Drive
Anchorage, AK 99516
MLS# 26-1101
9 beds  |  9 baths  |  7316 sqft


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Property Description
Purpose-built residence that functions as a small multifamily while retaining single-family zoning. Multiple private suites with ensuite baths and decks allow flexibility for owner-occupants, guests, or rentals. Radiant heat, durable metal roof and siding, strong well water, and thoughtful separation support B&B, retreat, or income-producing use.

Details
Maps
Documents
Contract Info
Foreclosure/Bank Own: No
Price-List: 1150000
Date-Listing: 2026-02-05
Status: Active
Location, Tax and Legal
Region: 1 - Southcentral Alaska Region
Borough/Census Area: 1A - Anchorage Municipality
Grid # (Muni Anch): SW3341
Tax Map #-Mat-Su: N/A
Legal: Cinerama Terrace Tr C
Taxes (Estimated): 15150
Tax Year: 2024
School-Elementary: Bear Valley
School-Middle: Goldenview
School-High: South Anchorage
Property Info
Realtor.com Type: Multi-Family
Construction Status: Existing Structure
Bathrooms Half: 0
Bathrooms Three Quarter: 0
Bathrooms Full: 9
Bathrooms Total: 9
Bldgs-Ttl #: 1
Acres: 13.57
SF-Lot: 591196
Lot Area Source: Tax Authority
Zoning: R10 - Residential Alpine/Slope
Garage Spaces: 3
Carport Spaces: 0
Prkg Spcs: 3
Beds: 9
Year Built: 2002
SF-Res: 7316
Number of Units: 2
Directions and Remarks
Directions: From Downtown Anchorage: Follow AK-1 S to Old Seward Hwy. Take the Old Seward Hwy exit from AK-1 S 9.1 mi Take Rabbit Creek Rd and Clarks Rd to your destination on Right 5.7 mi
Multi-Family Type
Up and Down: 1
To Show
ShowingTime: 1
Listing Terms Financing
Cash: 1
Conventional: 1
Owner Finance: 1
VA Loan: 1
Heating
Natural Gas: 1
Radiant Floor: 1
Foundation Type
Block: 1
Slab: 1
View Type
City Lights: 1
Inlet: 1
Mountains: 1
Wtrfrnt-Access Near
Creek: 1
Pond: 1
Garage Type
Attached: 1
Wtrfrnt-Frontage
Creek: 1
Pond: 1
Carport Type
None: 1
Waterfront Details
Waterfront Name: Little Rabbit Creek
Sewer-Type
Septic Tank: 1
Water Source
Well: 1
Location Tax and Legal
Area: 25 - Dearmoun Rd - Potter Marsh
Street #: 16528
Street Name: Kings Way
Arterial: Drive
Closest USPS Town: Anchorage
State: AK
Zip Code: 99516
Property Features
Multi-Family Type: Up and Down
Foundation Type: Block; Slab
Garage Type: Attached
Carport Type: None
Heating: Natural Gas; Radiant Floor
Sewer-Type: Septic Tank
Water Source: Well
View Type: City Lights; Inlet; Mountains
Wtrfrnt-Frontage: Creek; Pond
Wtrfrnt-Access Near: Creek; Pond
To Show: ShowingTime
Listing Terms Financing: Cash; Conventional; Owner Finance; VA Loan
Supplements
This Bear Valley property was intentionally designed for flexibility, privacy, and shared livingmaking it uniquely well suited for owner-operators, multi-generational households, or small-scale hospitality use. Set on 13.57 acres with over 7,500 square feet, the eight-bedroom, nine-bath layout offers multiple private suites, many with ensuite baths and decks or patios, allowing occupants to live independently while remaining part of a cohesive property. The top floor functions as a penthouse-style owner's retreat, while the rest of the home was thoughtfully built to support guests, renters, or extended family. Radiant-floor heat, durable concrete floors, metal siding, and a metal roof support four-season use with low-maintenance practicality. Separate access points, strong well water, and a three-car heated garage with RV parking further enhance usability. The pond and Little Rabbit Creek add a sense of calm and separation rarely found in income-capable properties this close to Anchorage. Designed with B&B and retreat potential in mind, each bedroom was given "something" unique so no space feels secondary. Bear Valley's single-entry setting provides privacy and a true neighborhood feel, while still offering a 20-25 minute drive to the airport, midtown, and downtown Anchorage.

IDX
Listing Office: Alaska Statewide Realty Co

Last Updated: February - 14 - 2026

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.