$390,000

508 & 506 Madison Street, Seward, AK 99664

  • 4 beds |
  • 2 baths |
  • 1,200 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1948
  • Property Lot Size Icon6,098sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $325/sqft
  • Property List Date Icon Listed 2 months ago

Property Description

Rare opportunity to purchase two homes on two individual lots. Each home features 2 bedrooms, 1 bathroom, and approximately 600 square feet. Lots measure approximately 30' x 100' each. Both homes are currently tenant occupied, generating $1,135 per month per unit plus utilities, for a total of $2,270/month in gross income. Current leases are in place through May 31, 2026. Located in the Urban Residential zoning district, which allows a variety of residential uses and provides future development flexibility. This is an excellent opportunity for investors, buyers seeking multiple rental units, or those looking to secure side-by-side properties with long-term potential. Buyer to verify all information to their satisfaction. Property includes garage/storage sheds currently used for storage. These structures are nonconforming to current city code and may be required to be removed if modifications are made to any of the existing structures. Buyer to verify with the City of Seward. Please review marketing package under the documents tab for more information!

Listing Status:
Pending
Date Added:
January 26, 2026
Data Last Updated:
April 4, 2026 at 7:38PM
Listing Office:
Seward Properties : 907-312-7660
MLS ID:
26-638
  • Flooring: LaminateCarpet
  • Heating: KeroseneOil
  • Parking: Other
  • Roofing: Metal
  • General: Unknown - BTV
  • Road/Access: GravelPavedMaintained
  • Originating MLS: Alaska Multiple Listing Service
  • Zoning: UR - Urban ResidentialOriginal Townsite Of Seward L19-20 B3114816027 & 14816026
  • View: BayGlacierMountain(s)Ocean
  • Water: Public
  • Sewer: Public Sewer
  • Source: Alaska Multiple Listing Service

This listing courtesy of Seward Properties

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

William H. Seward Elementary School

606 Sea Lion Dr, Seward, AK, 99664

Grades PK-5

1.79 miles away

S

Seward Middle School

304 Sea Lion Ave, Seward, AK, 99664

Grades 6-8

1.74 miles away

S

Seward High School

2100 Swetmann Ave, Seward, AK, 99664

Grades 9-12

1.62 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.