SWIFT
Add image as overlay by subclassing MKOverlay and MKOverlarRenderer
MapOverlay.swift
import UIKit
import MapKit
    class MapOverlay: NSObject, MKOverlay {
        var coordinate: CLLocationCoordinate2D
        var boundingMapRect: MKMapRect
        init(coord: CLLocationCoordinate2D, rect: MKMapRect) {
            self.coordinate = coord
            self.boundingMapRect = rect
        }
    }
MapOverlayView.swift
import UIKit
import MapKit
class MapOverlayView: MKOverlayRenderer {
    var overlayImage: UIImage
    init(overlay: MKOverlay, overlayImage:UIImage) {
        self.overlayImage = overlayImage
        super.init(overlay: overlay)
    }
    override func draw(_ mapRect: MKMapRect, zoomScale: MKZoomScale, in context: CGContext) {
        let mapImage = overlayImage.cgImage
        let mapRect = rect(for: overlay.boundingMapRect)
        context.scaleBy(x: 1.0, y: -1.0)
        context.translateBy(x: 0.0, y: -mapRect.size.height)
        context.draw(mapImage!, in: mapRect)
    }
}
ViewController.swift
import UIKit
import MapKit
class ViewController: UIViewController {
    @IBOutlet weak var mapview: MKMapView!
    override func viewDidLoad() {
        super.viewDidLoad()
        mapview.delegate = self
        let location = CLLocationCoordinate2D(latitude: 47.6062, longitude: -122.3320)
        let span = MKCoordinateSpanMake(2.0, 2.0)
        let region = MKCoordinateRegion(center: location, span: span)
        mapview.setRegion(region, animated: true)
        let rec = should be same as your image size 
        let overlay = MapOverlay(coord: location, rect: rec)
        mapview.add(overlay)
    }
}
extension ViewController: MKMapViewDelegate {
    func mapView(_ mapView: MKMapView, rendererFor overlay: MKOverlay) -> MKOverlayRenderer {
        if overlay is MapOverlay {
            let logo = UIImage(named: "swift")
            let overlayView = MapOverlayView(overlay: overlay, overlayImage: logo)
            return overlayView
        } else {
            return MKPolylineRenderer()
        }
    }
}
After this call a function to toggle alpha value of MKOverlayRenderer.

The project is available in github : link