9000 Stephen Richards Memorial Drive, Juneau, AK 99801 (MLS # 25643)

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PRICE $3,200,000 BEDS 0 BATHS 0 HOME SIZE 18,240 sqft LOT SIZE 40,816 sqft Request More Info Schedule a Showing

Introducing a prime investment opportunity in Juneau, Alaska"”this well-established two-story apartment building offers 30 units, including 28 one-bedroom, one-bathroom apartments, a one-bedroom apartment with a spacious loft, and a charming efficiency unit. With a total building area of 18,240 square feet, the property demonstrates efficient space utilization and comfortable living. The complex sits on 41,075 square feet +/- of leased land, benefiting from long-term tenants and stable income potential. Strategically located, the building offers convenient access to local shops, schools, services, and recreational facilities, making it an appealing choice for renters who seek both community and privacy. With a history of minimal vacancy rates and dependable tenants, this property represents a reliable and consistent income stream for investors. The units feature thoughtful layouts and functional spaces, contributing to high tenant satisfaction. The building's structure and management are well-maintained, ensuring a smooth transition for new owners. Additionally, the land lease, which began March 21, 1985, is valid until May 31, 2032, with the option to extend the lease for up to 50 more years in ten 5-year increments. This is a solid, straightforward investment with exceptional potential for growth and long-term stability.