3635-3711 Carleton Avenue, Anchorage, AK 99517
Overview
Description
Supplements: ... (Read more) 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.
Listing Details MLS# 26-9458
Contract Info
- Price-List
- 2850000
- Concessions YN
- Yes
- Date-Listing
- 2026-07-28
- Foreclosure/Bank Own
- No
Sold Info
- Date-Pending
- 2026-08-15
Location Tax and Legal
- Area
- 10 - Spenard
- Street #
- 3635-3711
- Street Name
- Carleton
- Arterial
- Avenue
- Closest USPS Town
- Anchorage
- State
- AK
- Zip Code
- 99517
- Subdivision Name
- Carleton Square
Property Info
- Realtor.com Type
- Multi-Family
- Construction Status
- Existing Structure
- Beds
- 33
- Bathrooms Half
- 11
- Bathrooms Three Quarter
- 11
- Bathrooms Full
- 11
- Bathrooms Total
- 33
- Bldgs-Ttl #
- 2
- Year Built
- 1985
- Year Remodeled
- 2026
- Year Updated
- 2025
- SF-Res
- 15246
- Number of Units
- 11
- SF-Lot
- 29554
- Acres
- 0.68
- Garage Spaces
- 11
- Prkg Spcs
- 15
- Lot Area Source
- Plat
- Zoning
- R2M - Multi Family Residential
- Carport Spaces
- 0
Directions and Remarks
- Directions
- West on W Nortrhern Lights, Left (south) on McKenzie Drive (this turns into Carleton Avenue). Properties are near the end of the culdsac on the North side.
Building Info
- Units-# of 3 BR
- 11
More Information
Currently Not Used
- Subdivision Name
- Carleton Square
Location, Tax and Legal
- Region
- 1 - Southcentral Alaska Region
- Borough/Census Area
- 1A - Anchorage Municipality
- Grid # (Muni Anch)
- SW1527
- Tax Map #-Mat-Su
- N/A
- Legal
- Woodlake L2b & 2c
- Taxes (Estimated)
- 26000
- Tax Year
- 2026
- School-Elementary
- Turnagain
- School-Middle
- Mears
- School-High
- West Anchorage
Multi-Family Type
- Side by Side
- Yes
To Show
- ShowingTime
- Yes
Listing Terms Financing
- AHFC
- Yes
- Cash
- Yes
- Conventional
- Yes
Exterior Finish
- Wood
- Yes
Heating
- Baseboard
- Yes
Topography
- Level
- Yes
Roof Type
- Asphalt
- Yes
- Shingle
- Yes
Construction Type
- Wood Frame
- Yes
Foundation Type
- Block
- Yes
Wtrfrnt-Access Near
- None
- Yes
Garage Type
- Attached
- Yes
Wtrfrnt-Frontage
- None
- Yes
Carport Type
- None
- Yes
Flooring
- Carpet
- Yes
- Laminate
- Yes
Sewer-Type
- Public Sewer
- Yes
Water Source
- Public
- Yes
Access Type
- Maintained
- Yes
Features-MultiFamily
- CO Detector(s)
- Yes
- In City Limits
- Yes
- Parkside
- Yes
- Smoke Detector(s)
- Yes
- Washer/Dryer
- Yes
Docs Avl for Review
- Appraisal
- Yes
- As-Built
- Yes
- Floor Plan
- Yes
- Lease
- Yes
- Survey
- Yes
Income & Expenses
- Exp-Elec/Yr Avg
- 500
- Exp-Gas/Yr Avg
- 500
- Exp-Insurance/Yr Avg
- 8580
- Exp-Maint/Yr Avg
- 9800
- Exp-Mgmt/Yr Avg
- 18000
- Exp-Refuse/Yr Avg
- 4620
- Exp-Snow/Yard/Yr Avg
- 3500
- Exp-Wtr/Swr/Yr Avg
- 10826
Rent Roll ›