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16528 Kings Way Dr, Anchorage, AK, 99516

8beds
9baths
7,316sqft
$1,150,000
$157price/sqft
$8,623/moest. monthly cost
$344,920/yrincome needed

About This Home

Custom-built Bear Valley mountain lodge on 13.57 acres, designed from raw land to frame mountains, water, and Alaska's light. Penthouse-style great room, floating decks, radiant concrete floors, and artisan details throughout. Wildlife, northern lights, and total privacy feel worlds away, yet just 20-25 minutes from Anchorage.Every arrival feels like coming home to your own mountain lodge, where the first things you notice are the silence, the sky, and the sweep of mountains, city lights, and water stretching out in front of you. Perched in Bear Valley on 13.57 acres and boasting over 7,500 square feet, this eight-bedroom, nine-bath home was not just built it was imagined from raw land and designed to frame everything that makes Alaska feel magical: the mountains, the water, the valley, the animals, the light. From the beginning, the owner/builder chose this spot because it was one of the rare parcels where you can see both the mountains and the water at once. The vision extended to the transformation of a wet, low downhill from the house into the tranquil pond and creek frontage that now define the property. Life here is a front-row seat to wild Alaska: Imagine September evenings with a dozen moose calling to each other in the brush, the occasional bear ambling through the driveway, and a lynx stepping lightly across the little bridge by the pond, and locking eyes with you from just a few feet away. On winter nights, the northern lights can feel so close on the upper deck that they seem to rest in the palm of your hand, while a full moon hangs over the back valley outside the primary suite's floating deck. Summer sunsets pour through thoughtfully placed glass blocks, so that even from interior rooms you catch the glow and know that it's time to step out and watch the sky turn pink over Cook Inlet. Inside, the top floor has the possibilities of a true penthouse retreat: a big, light-filled Great Room opening to decks and a "hideaway" bedroom designed as an owner's sanctuary, with the rest of the house intentionally built for community family, guests, or travelers. Radiant-floor heat, multi-level floating decks, and small "Juliet" balconies make everyday living feel easy and connected; you can step out to greet arriving guests from above, wave hello while they unload, and still enjoy your own quiet until you're ready to come down. Designed with B&B potential, with 6(??) bedrooms with ensuite baths, private decks or patios for every bedroom, and flexible shared spaces throughout, the property easily becomes a boutique lodge, high-end Airbnb, retreat center, or multi-generational estate each bedroom was given "something" special and unique in its design and access, so no one feels left out. The home was designed with future upgrade potential in mind: with rock-solid bones and high-end practical features (in-floor heat, metal siding and roof, etc), continued aesthetic improvement to the interior and grounds could create a unified luxury custom home. The three-car heated garage, RV parking, and durable concrete, metal siding, and metal roof support serious four-season living, with Little Rabbit Creek and a pond as your constant soundtrack. Bear Valley itself feels like a small, exclusive mountain community with a single entrance, no commercial strip, and neighbors who think of themselves as living in their own little mountain town yet you're still within very easy reach of the city, with a reasonable 20-25 minute drive to the airport, midtown, or downtown. Beyond what's already built, there is a sense of unfinished possibility in the land: imagine a loop trail for walking or cross-country skiing, tucked-away gathering spots by the rushing creek, maybe even a partially sunken, domed greenhouse that uses diverted water to keep a lush interior space alive year-round. Whether you're dreaming of an income-producing property, a base for big family holidays, a boutique B&B, or simply a place where you feel proud every time you walk through the door, this home offers not just rooms and acreage, but a whole landscape of experiences waiting to be lived.

Getting Around

0
WalkingCar-Dependent
0
TransitNo Nearby Transit
11
BikeSomewhat Bikeable

Schools

10/10
9/10
Goldenview Middle SchoolGrades 7-82.0 mi
10/10

Construction

Condition

  • Year built: 2002

Materials

  • Foundation: Block,Slab
  • Roof: Metal
  • Construction materials: Metal

Type & Style

  • Home type: SingleFamily
  • Property subType: Single Family Residence

Interior

Bedrooms & Bathrooms

  • Bedrooms: 8
  • Bathrooms: 9
  • Full bathrooms: 9

Features

  • Basement,BR/BA on Main Level,BR/BA Primary on Main Level,In-Law Floorplan,Storage
  • Common walls with other units/homes: No Common Walls

Heating

  • Heating features: Natural Gas,Radiant Floor

Interior Area

  • Total structure area: 7,316
  • Total interior livable area: 7,316 sqft

Property

Details

  • Parcel number: 0205610700001
  • Zoning: R10
  • Zoning description: Residential Alpine/Slope

Features

  • Levels: Multi/Split
  • Patio & porch: Deck/Patio
  • Has view: Yes
  • View description: City Lights,Inlet,Mountain(s),Unobstructed
  • Has water view: Yes
  • Water view: Inlet
  • On waterfront: Yes
  • Waterfront features: Creek,Pond,No Access
  • Waterbody name: Little Rabbit Creek
  • Topography of land: Gently Rolling,Level,Sloping
  • Horses can be raised: Yes

Lot

  • Lot size: 13.57 Acres
  • Features: Horse Property,City Lot,Views

Parking

  • Total spaces: 3
  • Parking features: RV Access/Parking,Attached,No Carport
  • Has garage: Yes
  • Attached garage spaces: 3
  • Covered spaces: 3

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Winter Weather
    Winter WeatherVery High
  • Avalanche
    AvalancheRelatively High
  • Earthquake
    EarthquakeRelatively High
  • Landslide
    LandslideRelatively High
  • Wildfire
    WildfireModerate

How This Home’s Risks Compare

Winter Weather
Avalanche
Earthquake
Landslide
Wildfire

FEMA Declared Disasters in Anchorage Municipality and Alaska

Flood
Mud Landslide
Other
Severe Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $5,815$69,780
Home Insurance $260$3,120
Property Taxes $1,329$15,948
Electricity $1,219$14,634
Total$8,623$103,476

Income You'd Need if You Spent...

35% on housing$295,645/yr
40% on housing$258,690/yr
45% on housing$229,946/yr

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 4.5%
4.5%
0%30.0%
Electricity Growth Rate10-year average: 3.0%
3.0%
0%15.0%
Property Taxes Growth Rate2-year average: -0.7%
-0.7%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$157This listing

vs Other Active Listings

Avg $/sqft

ZIP 99516$314
Anchorage Municipality$252

vs Homes Sold Last Month

Median $/sqft

ZIP 99516$266
Anchorage Municipality$263

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2026-02-10Listed for sale$1,150,000
2026-01-12Listing removed$1,159,000
2025-10-17Price change$1,159,000
2025-10-02Price change$1,171,000
2025-09-18Price change$1,173,000
2025-09-08Listed for sale$1,175,000
2025-08-21Listing removed$1,175,000
2025-07-04Listed for sale$1,175,000
2025-02-06Listing removed$1,299,000
2025-01-06Price change$1,299,000
2024-11-23Price change$1,345,000
2024-10-30Listed for sale$1,388,000
2024-10-23Listing removed$1,388,000
2024-04-22Listed for sale$1,388,000
2023-09-24Listing removed$1,550,000
2023-05-10Listed for sale$1,550,000
2023-03-24Listing removed$1,450,000
2023-03-12Listed for sale$1,450,000
2021-01-05Listing removed$1,290,000
2020-06-27Listed for sale$1,290,000
2018-05-06Listing removed$1,250,000
2017-05-02Listed for sale$1,250,000
2016-08-06Listing removed$1,159,000
2016-06-06Price change$1,159,000
2016-05-12Listed for sale$1,199,000
2013-09-13Sold--

For Sale by Agent

AgentDrew P Jones
BrokerageAlaska Statewide Realty Co

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