4 Days Ago
Highlights
- Generous closet space
- All utilities included
- Spacious kitchen
- Trails
Location
5350 Lake Otis Pkwy, Anchorage, AK 99507, USA
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Floor plans
| 2BR/1.0BA | 2 bed | 1 bath | 816+ sqft | $1,595–$1,645 /mo | 2 units available | HEAT PAID! This beautifully updated top-floor unit offers comfort and convenience, making for truly worry-free living. Featuring brand-new carpet and fresh interior paint throughout, the home feels bright, clean, and inviting, enhanced by abundant natural light that flows through the well-designed layout. The spacious kitchen opens seamlessly to the living room, creating an ideal space for everyday living and entertaining, while a cozy dining nook adds charm and functionality. Both bedrooms are generously sized with ample closet space, and the unit provides excellent storage throughout. Located in the highly desirable UMED area, this centrally positioned home offers outstanding access to hospitals, universities, shopping, parks, trails, dining, and essential services, as well as major roadways and an easy commute to JBER. Thoughtfully maintained and move-in ready, this top-floor residence delivers a comfortable Anchorage living experience in a prime location with unbeatable value. |
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Applicants
Applicants
One-time.
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REQUIRED FEES
Security Deposit
One-time. Refundable.
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Building details
Property details
| Units | 12 |
|---|
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About Mellen LO - Lake Otis 5350
HEAT PAID! This beautifully updated top-floor unit offers comfort and convenience, making for truly worry-free living. Featuring brand-new carpet and fresh interior paint throughout, the home feels bright, clean, and inviting, enhanced by abundant natural light that flows through the well-designed layout. The spacious kitchen opens seamlessly to the living room, creating an ideal space for everyday living and entertaining, while a cozy dining nook adds charm and functionality. Both bedrooms are generously sized with ample closet space, and the unit provides excellent storage throughout. Located in the highly desirable UMED area, this centrally positioned home offers outstanding access to hospitals, universities, shopping, parks, trails, dining, and essential services, as well as major roadways and an easy commute to JBER. Thoughtfully maintained and move-in ready, this top-floor residence delivers a comfortable Anchorage living experience in a prime location with unbeatable value.
Zumper Expert Rating
Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.4
/10
Very GoodWith a solid 8.4 out of 10 overall, Mellen LO - Lake Otis 5350 is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Mellen LO - Lake Otis 5350 has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
Mellen LO - Lake Otis 5350 offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·8A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
With multiple in-demand amenities, Mellen LO - Lake Otis 5350 is committed to enhancing the renting experience. And while it may have fewer total conveniences and features than similar rentals nearby, it remains a top choice for renters wanting an specific standard of living.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Mellen LO - Lake Otis 5350 is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While Mellen LO - Lake Otis 5350 does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·8A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How Mellen LO - Lake Otis 5350 compares to other nearby properties.
Considerations
- Lacks images
- Fewer than 10 photos available for this location
- No in-unit dishwasher
- Dishwashers aren't available
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Rent trends in Anchorage
2-bedroom apartments at Mellen LO - Lake Otis 5350 cost about 5% less than the average rent price for 2-bedroom apartments in Anchorage.
Median rents as of Mar 14 2026.
Anchorage
| Month | Median Rent |
|---|---|
| March 2024 | $960 |
| April 2024 | $1,102 |
| May 2024 | $1,310 |
| June 2024 | $1,460 |
| July 2024 | $1,522 |
| August 2024 | $1,010 |
| September 2024 | $1,033 |
| October 2024 | $1,167 |
| November 2024 | $1,158 |
| December 2024 | $1,148 |
| January 2025 | $1,130 |
| February 2025 | $1,189 |
| March 2025 | $1,156 |
| April 2025 | $1,227 |
| May 2025 | $1,189 |
| June 2025 | $1,161 |
| July 2025 | $1,201 |
| August 2025 | $1,384 |
| September 2025 | $1,152 |
| October 2025 | $1,023 |
| November 2025 | $1,079 |
| December 2025 | $1,060 |
| January 2026 | $1,013 |
| February 2026 | $1,026 |
| March 2026 | $1,100 |
Affordability calculator
Can I afford to live at 5350 Lake Otis Pkwy?
Bedrooms
2 bedroomsRent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$63,800/yr
With your selected rent-to-income ratio, you'd ideally want to make $63,800 annually to afford this 2-bedrooms monthly rent price of $1,595.
For more information on rent affordability, visit our rent calculator.
Schools near Mellen LO - Lake Otis 5350
Tudor Elementary School
1666 cache dr
anchorage, AK, 99507
PK, K-6Public
B-
Northern Lights ABC K-8 School
2424 east dowling rd
anchorage, AK, 99507
PK, K-8Public
A-
Whaley School
2220 nichols st
anchorage, AK, 99508
PK, K-12Public
Alaska State School for the Deaf & Hard of Hearing
5530 e northern lights blvd
anchorage, AK, 99504
PK, K-12Public
Paideia Cooperative School
616 w 10th ave
anchorage, AK, 99501
K-12Public
A-
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Internet available near Mellen LO - Lake Otis 5350
Getting around Anchorage near 5350 Lake Otis Pkwy
Walking
6/10
Some shops and stores are within a few minutes.
Driving
10/10
Commuting is easy with multiple accessible routes and plenty of parking.
Cycling
7/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.
Transit
3/10
There are a few mass transit options within the area.
Points of interest for 5350 Lake Otis Pkwy, Anchorage
Groceries
8/10
At least one grocery store within a few minutes' walk
Shopping
5/10
Some shops within walking distance
Cafes
4/10
Some cafés within walking distance
Restaurants
5/10
Some restaurants within walking distance
Primary schools
10/10
At least one elementary school within a 5-minute walk
High schools
3/10
No high schools within a 30-minute walk
Nightlife
3/10
Few or no bars within walking distance
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