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Key Details
Sold Price $1,300,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 11,465 sqft
Price per Sqft $113
MLS Listing ID 22-6892
Sold Date 10/26/22
Bedrooms 15
Full Baths 9
Construction Status Existing Structure
Originating Board Alaska Multiple Listing Service
Year Built 1920
Annual Tax Amount $8,007
Lot Size 3,973 Sqft
Acres 0.09
Property Description
Prime Downtown Mixed-Use Commercial/Residential Rental Property – Located in the heart of downtown Ketchikan, this property has two well established commercial rentals on the ground floor, 2 office spaces and 9 residential rentals. Residential units consist of 1 X Studio, 3 X 1-BR, 4 X 2-BR, and 1 X 3-BR with seasoned rental income. Commercial rentals are on Mission St and office/retail space is accessible from Dock St.
Seller has completed the following upgrades to the building:
" Fire Sprinkler Main Water line replaced & Heated
" New roof storm water drain system installed 2020
" Power meter room installation landlord bills electrical to each unit
" Apartment remodel
" Exterior paint
" 413 Mission St remodel
Primary residential heat is from electric and landlord bills electric to tenants. Common area and domestic hot water heated by boiler controlled by owner. Coin operated Washer/Dryers on site available for tenants use.
Landlord has an onsite maintenance super who receives free rent in lieu of wages. Projected gross revenues $181,500+. Pro forma income projections available for interested buyers.
Location
State AK
Area 565 - Ketchikan Gateway Borough - All
Zoning CC - Central Commercial
Direction One side of building on Dock, one on Mission.
Interior
Heating Baseboard, Electric
Flooring Carpet
Exterior
Roof Type Built-Up
Topography Level
Building
Lot Description Level
Foundation Post on Pad
Lot Size Range 0.09
Sewer Public Sewer
New Construction No
Construction Status Existing Structure
Schools
Elementary Schools Houghtaling
Middle Schools Schoenbar
High Schools Ketchikan
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Bought with Legacy Real Estate Firm