$2,080,000
Grand Rapids, MN 55744
MLS# 6544007
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Property Description
32 unit apartment building located in the heart of Grand Rapids, excellent predictable cash flow in growing community with high demand for apartments. Newer roof, newer furnace, updated windows. 17 1BR units, 11 efficiency units, 2 2BR units & 2 3BR units. On site laundry.
Details
Maps
Contract Information
Digitally Altered Photos: No
Status: Active
Current Price: $2,080,000
Contingency: None
ListPrice: 2080000
List Date: 2024-05-29
Owner is an Agent?: Yes
Auction?: No
Office/Member Info
Association: ICBR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 20
Owner Occupied: No
Year Built: 1975
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 7127
Power Company: Grand Rapids Public Utilities
For Sale or Lease: For Sale
Acres: 0.46
Lot Dimensions: 150x135
Assessment Pending: Unknown
Location, Tax and Other Information
Legal Description: TOWN OF GRAND RAPIDS MINN LOTS 1-5 & S 10' OF LOT 6 BLK 22
Listing City: Grand Rapids
Map Page: 999
Municipality: Grand Rapids
School District Phone: 218-327-5704
House Number: 212
Street Direction Prefix: NE
Street Name: 3rd
Street Suffix: Avenue
Postal City: Grand Rapids
County: Itasca
State: MN
Zip Code: 55744
Property ID Number: 914102210
Complex/Dev/Subdivision: Town Of Grand Rapids Minn
Tax Year: 2024
Tax Amount: 11663
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: 32 unit apartment building located in the heart of Grand Rapids, excellent predictable cash flow in growing community with high demand for apartments. Newer roof, newer furnace, updated windows. 17 1BR units, 11 efficiency units, 2 2BR units & 2 3BR units. On site laundry.
Directions: Take NE 4th St to NE 3rd Ave. Turn right onto NE 3rd Ave. Destination on the left.
Assessments
Assessment Balance: 225
Tax With Assessments: 11888
Building Information
Building Finished SqFt: 14098
Income and Expenses
Annual Gross Expenses: 8064
Annual Gross Income: 25246
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Public Survey Info
Range#: 25
Section#: 21
Township#: 55
Sale Options
Sale Includes: Building, Leases
Unit 1
No. of 1 Bedroom Units: 17
Unit 2
No. of 2 Bedroom Units: 2
Unit 3
No. of 3 Bedroom Units: 2
Unit Details
Total Units: 32
Unit Information
No. of Efficiency Units: 11
Property Features
Accessible: None
Air Conditioning: None
Amenities Shared: Coin-op Laundry Owned
Appliances: Dryer; Refrigerator; Washer
Basement: Full
CMU Style: Apartments/Multi Family
Construction Status: Previously Owned
Current Use: Residential
Exterior: Brick/Stone; Stucco
Fencing: None
Fuel: Natural Gas
Heating: Boiler; Hot Water
Loan Terms: Cash; Conventional
Location Description: Downtown
Miscellaneous Information: Alarms
No. of Ranges: One Per Unit
No. of Refrigerators: One Per Unit
On Site Utilities: Electric Separate; Heating Common; Hot Water Common
Owner Pays: Electricity; Gas; Heat; Insurance; Lawn; Lawn; Maintenance/Repair; Management; Repairs; Sewer; Snow Removal; Taxes; Trash Collection; Water
Parking Characteristics: Parking Lot
Pool Description: None
Roof: Asphalt Shingles
Sewer: City Sewer/Connected
Stories: Three Or More
Tenant Pays: Broadband; Cable TV
Water: City Water/Connected
Listing Office: GRAND PROPERTIES REAL ESTATE
Last Updated: June - 05 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
