231 Lincoln St - Apartments FOR SALE


Sitka, AK 99835
$4,750,000 USD
907-321-9162
231 Lincoln St, Sitka, AK for Sale
$4,750,000 USD
Apartments - FOR SALE
1/22
null | Request Cap Rate

231 Lincoln St
Sitka, AK 99835


HIGHLIGHTS

  • Covering a total lot area of 6,303 square feet
  • Located in downtown Sitka
  • Mixed use property with Retail and Residential
  • Wonderful views

OVERVIEW

The Cathedral Arms, an iconic property located in downtown Sitka, features apartments and retail shops. This distinguished eight-story building offers spectacular views of Sitka Sound and the majestic Mt. Edgecumbe, making it a prime location for both residential and commercial tenants. The Cathedral Arms features a total of 37 residential units, including 24 one-bedroom apartments, 12 efficiency apartments, and one exclusive penthouse. Each one-bedroom apartment is thoughtfully designed with a living room, kitchen, bathroom, and ample closet space. The efficiency apartments provide a cozy living room, a small kitchen, a bathroom, and sufficient closet space, ensuring comfort and functionality. The pinnacle of the building is the eighth-floor penthouse, which boasts two bedrooms, one bathroom, a kitchen, a dining room, and a spacious living room, along with a private laundry room equipped with a washer and dryer. On the first floor, the property includes four retail spaces that offer prime street-level visibility, perfect for businesses seeking a central and bustling location. The common areas on this floor include mechanical rooms, a welcoming lobby, and a convenient vestibule. Residents from the second to the sixth floors benefit from a shared laundry room with coin-operated washers and dryers, while additional storage rooms are available for rent, providing extra space as needed. Cathedral Arms offers ample space for comfortable living and for thriving businesses. Covering a total lot area of 6,303 square feet, with a total building area of 30,475 square feet. The property is zoned within the Central Business District (CBD), ensuring easy access to local amenities, shopping, dining, and the natural beauty of Alaska. Cathedral Arms offers a unique blend of historic charm, modern convenience, and stunning natural views. Please contact Angie Nolan at Alaska Unlimited Realty 907-321-9162 for more information.

FOR SALE DETAILS

PRICE

$4,750,000 USD

PRICE/SF

$156 USD /SF

# OF UNITS

37

PRICE/UNIT

$128,378

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Cathedral Arms Apartments and Retail Shop

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

8

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

5,895 SF

ZONING

CBD

APN/PARCEL ID

1-0521-000-000-0000

ASK ABOUT THIS PROPERTY

Angie NolanAlaska Unlimited RealtyMore Info
907-321-9162

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Angie NolanAlaska Unlimited RealtyMore Info
907-321-9162

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.