Property photo 1
Property photo 2
Property photo 3
Property photo 4
Property photo 5
5 Beds
3 Baths
2,305 sqft

$515,000

40035 Fernwood Drive, Homer AK, 99603

Price per sqft$223.43
Built in1959
Property size2,305 sqft
Property typeResidential
Listed by Sarah M Richardson with Story Real Estate

Overview

Active

Listed Feb 20, 2026

Updated Jul 25

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.

$3,426/mo

Est. mortgage payment based on a $515,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
26-1609

Interior Features

Bedrooms
5
Bathrooms
3
Basement
No

Exterior Features

Lot Size
1.08 Acres

Other Property Details

Garage
Yes
View
Yes
MLS provider logo

Listing Contact:  

The IDX display contains information sourced from the Alaska Multiple Listing Service, Inc. (AK MLS) as of 7/25/2026. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

©2026 Alaska Multiple Listing Service, Inc. (AK MLS) all rights reserved.

Data last updated on 7/25/2026 at 2:14 AM UTC

Powered by Luxury Presence