40035 Fernwood Drive

Homer, AK 99603

About this property

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 property. The garage provides generous storage or parking, with additional on-site parking available. This is a location people actively look for paired with a property that offers real-world flexibility for how you live or invest in Homer.

About this property

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 property. The garage provides generous storage or parking, with additional on-site parking available. This is a location people actively look for paired with a property that offers real-world flexibility for how you live or invest in Homer.

Features and Additional Information

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$515,000 Active
2,305 sqft

Presented By Michael Liebner, Green Designated

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Story Real Estate
1-907-226-3933
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Area Information

1B Kenai Peninsula Borough | County | Fernwood SUB 2004

$ 515,000
This listing is play_arrow 0.0% lower than the average in the area
$ 515,000 in the area
2,305 SqFt
This listing is play_arrow 0.0% smaller than the average in the area
2,305 SqFt in the area
$ 223 $/SqFt
This listing is play_arrow 0.0% less than the average in the area
$ 223 $/SqFt in the area
217 days on site
This listing is play_arrow 0.0% below the average in the area
217 days on site in the area

Schools in the Area

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    Elementary School
    Paul Banks/Homer
  • turned_in
    Middle School
    Homer
  • turned_in
    High School
    Homer
Listed By Sarah M Richardson
Brokerage: Story Real Estate

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