$319,000
Lake Bronson, MN 56734
MLS# 6144838
Status: Closed
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Property Description
Fantastic investment opportunity to own this 8plex located in Lake Bronson, Mn. Building features new roof, new mechanical, new coin op laundry and much more. This has been fully rented with long term tenants and a waiting list of people that would love to be here. The current manager would like to continue to manage this property for the long term future. Turn key investment that offers a cap rate of 9+ soon to be 10! Call today this won’t last long.
Details
None
Allow Auto Valuation: No
Allow Consumer Comment: No
MLSID: RMLS
Contract Information
Availability: Unavailable
Status: Closed
Off Market Date: 2022-04-15
Current Price: $280,000
Sales Close Date: 2022-06-01
Sales Close Price: 280000
Original List Price: 339000
Contingency: None
ListPrice: 319000
List Date: 2022-01-22
Owner is an Agent?: No
Auction?: No
Office/Member Info
Association: NWMAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront Present: No
Year Built: 1978
Yearly/Seasonal: Yearly
Zoning: Business/Commercial,Residential-Multi-Family
Foundation Size: 4000
Power Company: Ottertail Power
For Sale or Lease: For Sale
Acres: 0.6
Lot Dimensions: 185x135
Assessment Pending: No
Location, Tax and Other Information
Legal Description: ORIG LAKE BRONSON LOTS 15, 16 & 17 BLK 7 NLY 35FT OF VAC PORTION OF PERCY ST BETWEEN BLK 7 & 10
Map Page: 999
Municipality: Lake Bronson
Rental License?: No
School District Phone: 218-436-2261
Map Coordinate Source: King's Street Atlas
House Number: 110
Street Direction Prefix: S
Street Name: 2nd
Street Suffix: Avenue
Postal City: Lake Bronson
County: Kittson
State: MN
Zip Code: 56734
Zip Plus 4: 3444
MLS Area: Lake Bronson
Property ID Number: 370035000
Tax Year: 2021
Tax Amount: 2446
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Tax With Assessments: 2446
Directions & Remarks
Public Remarks: Fantastic investment opportunity to own this 8plex located in Lake Bronson, Mn. Building features new roof, new mechanical, new coin op laundry and much more. This has been fully rented with long term tenants and a waiting list of people that would love to be here. The current manager would like to continue to manage this property for the long term future. Turn key investment that offers a cap rate of 9+ soon to be 10! Call today this won’t last long.
Directions: From Lake Bronson turn south off highway 28 onto 2nd ave s. It is the second building on the right.
Building Information
Building Finished SqFt: 4000
Green Verification
Green Certification: No
Income and Expenses
Annual Gross Expenses: 20000
Annual Gross Income: 55800
Annual Insurance Expense: 1860
Annual Net Income: 35800
Annual Water/Sewer Expense: 1800
Miscellaneous Information
FIPS Code: 27069
Homestead Desc: Other
Structure Information
Sale Includes: Business,Building,Land,Inventory,Fixture/Equipment,Leases,Business Assets
Unit 1
No. of 1 Bedroom Units: 7
Unit 2
No. of 2 Bedroom Units: 1
Unit Details
Total Units: 8
Property Features
Accessible: No Stairs External; No Stairs Internal
Air Conditioning: Window
Amenities Shared: Coin-op Laundry Owned
Basement: Slab
CMU Style: Mixed Use
Construction Status: Previously Owned
Current Use: Residential
Exterior: Metal
Financing Terms: Conventional
Fuel: Natural Gas
Heating: Baseboard
On Site Utilities: Electric Common; Heating Common; Hot Water Common
Owners Expense: Electricity; Insurance; Lawn; Maintenance/Repair; Snow Removal; Taxes; Trash Collection
Parking Characteristics: Gravel Lot
Roof: Metal
Sewer: City Sewer/Connected
Stories: One
Tenant Expenses: None
Water: City Water/Connected
Listing Office: Reed Realty
Last Updated: June - 10 - 2022
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