Nine BR Fourplex

$190,000
816 N Lane St.
Corporate Owned!
Sale pending 9/9

This bank-foreclosed fourplex is larger than average. There's 3744 sq.ft. with one three bedroom unit and three two-bedroom apartments. The building faces sideways to the street, making a courtyard with the adjoining building. There's alley access behind, with off-street parking. The location is nearly all the way in north part of Mountain View, a more quiet area that backs on city park land. The MapQuest link above gives good perspective on the surroudings.

The price is dramatically below the city tax-assessed value of $304,600, an indication of the major correction that has happened in this segment of the Anchorage investment property market. At this price level these properties now offer an excellent opportunity for investors to achieve tax advantage and cash flow.

The property is priced as-is, with no repairs or cosmetic improvements planned or implied in the listed price. The cosmetic condition is fair in the units. I have not noticed anything else seriously amiss, except that cockroaches have been observed in one unit. Extermination bids are being obtained.

All the units are vacant for marketing purposes.

Please download the information package which has my licensee disclosure and other documents worth reviewing before you see the property.

One should consult a lender concerning how best to finance a property such as this. The building as-is might not meet FHA or VA minimum property standards. There is an office of a Wells Fargo joint venture in our Coldwell Banker Building. We would be happy to introduce you so you could explore loan programs with an originator who will have direct ties to the lending institution that owns the property.

Offers are due the day after Labor Day, September 2. All offers received by then will be considered on an equal basis the next day.

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