40035 Fernwood Drive, Homer, AK 99603

Local realty services provided by:Better Homes and Gardens Real Estate Dream Makers
40035 Fernwood Drive,Homer, AK 99603
$525,000
  • 5 Beds
  • 3 Baths
  • 2,305 sq. ft.
  • Multi-family
  • Active
Listed by: sarah m richardson
Office: story real estate
MLS#:26-1609
Source:AK_AMLS

Price summary

  • Price:$525,000
  • Price per sq. ft.:$227.77

About this home

Homer Bench property with expansive views of Kachemak Bay. Includes a 3-bed, 1.5-bath main home (1,421 sqft) plus detached 2-bed, 1-bath unit (884 sqft) above a heated 2-car garage. Currently, two separate long-term rentals; tenants pay utilities = low operating costs. Instant cash flow + room for growth. Options abound including owner occupancy, multi-generational living, or investment.Perched on the Homer Bench with wide-open views of the Homer Spit, Kachemak Bay, and the surrounding mountains and glaciers, this property offers a rare mix of scenery and flexibility. The setup includes two separate living spaces: a 3-bedroom, 1.5-bath main home and an apartment over a large two-car garage. Both units have been rented long term, with tenants paying their own utilities, keeping operating costs low. One unit will be available in the coming months, making this a strong option for an owner-occupant who wants help offsetting expenses, or for someone continuing it as a long-term rental

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Home facts

  • Year built:1959
  • Listing ID #:26-1609
  • Added:3 day(s) ago
  • Updated:February 24, 2026 at 10:40 PM

Rooms and interior

  • Bedrooms:5
  • Total bathrooms:3
  • Full bathrooms:2
  • Living area:2,305 sq. ft.

Heating and cooling

  • Heating:Baseboard, Floor Furnace

Structure and exterior

  • Roof:Metal
  • Year built:1959
  • Building area:2,305 sq. ft.
  • Lot area:1.08 Acres

Schools

  • High school:Homer
  • Middle school:Homer
  • Elementary school:Paul Banks/Homer

Utilities

  • Water:Cistern
  • Sewer:Septic Tank

Finances and disclosures

  • Price:$525,000
  • Price per sq. ft.:$227.77
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