North
Birchwood Five-Plex
$229,000
New Listing 4/28/99
20209 Weeping Birch, Chugiak
If you can picture yourself living for free out in the country and having an income
too, Chugiak could be the place. These side-by-side two-bedroom units earn an average of
$708 per unit per month. Professionally managed at this time, we anticipate an investor
managing the property personally, or living there. Forecasted Net Operating Income under
this scenario is $27,183, or a generous 11.9% CAP rate.
Birchwood isn't much of a commute from Anchorage, either. The property is only 21 miles
from downtown on the 65 mph Glenn Highway, and two miles from the North Birchwood exit
(see maps below).
The lot is over an acre and backs on largely undeveloped land at the dead end of the
street where it is located. Parking is more than ample. The building is 3509 square feet,
making the apartments very generous. There is additional storage for each unit on the
property.
Other views, maps, and a spreadsheet
(click below for full-sized images, about 25K each)
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