Multi-Family Type: Side by Side

Exterior Finish: Wood

Roof Type: Asphalt; Shingle

Foundation Type: Block

Construction Type: Wood Frame

Garage Type: Attached

Carport Type: None

Heating: Baseboard

Sewer-Type: Public Sewer

Water Source: Public

Access Type: Maintained

Topography: Level

Wtrfrnt-Frontage: None

Wtrfrnt-Access Near: None

Features-MultiFamily: CO Detector(s); In City Limits; Parkside; Smoke Detector(s); Washer/Dryer

Flooring: Carpet; Laminate

To Show: ShowingTime

Docs Avl for Review: Appraisal; As-Built; Floor Plan; Lease; Survey

Listing Terms Financing: AHFC; Cash; Conventional

Each unit size is 1386sqft per recent appraisal. Appraised value came in at $2,850,000 June 2026. Replat happened in spring 2026, dividing up the original lot into a 4plex, 7plex & R2M lot. The building is 100% occupied by credit-qualified tenants, whom pay their own G&E. Big upside to potentially operate bnbs given the fantastic Turnagain location. The true value lies in the future. The seller has completed nearly all of the legal work necessary for a condominium conversion, allowing a new owner the opportunity to finish the process and potentially sell each townhouse individually. With an estimated market value of approximately $330,000 per unit, the property offers a compelling value-add strategy rarely found in today's market. As an added bonus, the seller is also offering the adjacent R2M development parcel (MLS #26-6497). A builder recently confirmed the site can accommodate up to 10 additional units, and the project qualifies for the Municipality's tax abatement program. Purchase all properties together and the seller will offer a discounted package price, creating an exceptional opportunity to expand your footprint in one of Anchorage's strongest rental markets. Whether you're seeking stable cash flow today, long-term appreciation, or the ability to unlock substantial equity through condominium sales, this is a truly one-of-a-kind investment opportunity in South Turnagain. Buyer to verify all information.