Zumper
modified
5+ 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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Tour Mellen LO - Lake Otis 5350

Contact

Management

Roy Briley Rental Management

Leasing office

(907) 575-9900

Property Overview

Mellen LO - Lake Otis 5350 receives a strong overall rating of 8.4 from Zumper, highlighting its competitive pricing and excellent balance of value and amenities, including a spacious kitchen and generous closet space. With a location rating of 9, residents benefit from convenient access to schools, trails, and local attractions. The property is characterized by transparency and trustworthiness, further enhancing its appeal for potential renters.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings” and “Things you’ll love” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

8.4
Very Good
With 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.

Things you’ll love

  • High school nearby
  • Middle school nearby

Floor plans

2BR/1.0BA2 bed1 bath816+ sqft$1,525–$1,650 /mo2 units availableHEAT 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.

Let's explore this property.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property
Building details

Property details

Units12
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About Mellen LO - Lake Otis 5350

HomeApartments in Anchorage 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 Good
With 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.
How we rated Mellen LO - Lake Otis 5350
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.

Positives

High school nearby
There is a high school 0.5 mile away
Middle school nearby
There is a middle school 1 mile away

Considerations

Greater distance from grade schools
The nearest elementary school is farther than 0.4 mile away

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Rent trends in Anchorage

2-bedroom apartments at Mellen LO - Lake Otis 5350 cost about 10% less than the average rent price for 2-bedroom apartments in Anchorage.

Median rents as of Jan 24 2026.
Anchorage
A table of studio rental data trends in Anchorage
MonthMedian Rent
February 2024$950
March 2024$926
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$1,008

Affordability calculator

Can I afford to live at 5350 Lake Otis Pkwy?

Bedrooms

2 bedrooms

Rent-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

$61,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $61,000 annually to afford this 2-bedrooms monthly rent price of $1,525.
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
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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

Explore the area around 5350 Lake Otis Pkwy

Alaska Dinner Factory
5905 Lake Otis Pkwy
Alaska Halal International Market
6140 Old Seward Hwy
Sagaya Corp
3700 Old Seward Hwy
Alaska International Groceries
401 W Intl Airport Rd
Fred Meyer
1000 E Northern Lights Blvd

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