$287,500
Oklee, MN 56742
MLS# 7120186
8 beds | 8 baths | 2928 sqft
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Property Description
Great investment opportunity in this thriving small community! Two buildings, each housing 4 one-bedroom units. Siding, windows, and shingles were done in 2015. Other updates throughout the units as well. Call today to schedule your showing!
Details
Contract Information
Status: Active
Current Price: $287,500
Contingency: Other
ListPrice: 287500
List Date: 2026-08-01
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 8
Owner Occupied: No
Waterfront YN: No
Year Built: 1977
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Bedrooms: 8
Baths Total: 8
Foundation Size: 2928
For Sale or Lease: For Sale
Acres: 0.68
Lot Dimensions: 200x150
Assessment Pending: No
Assessments
Tax With Assessments: 4178
Basement
Foundation Dimensions: 48x54
Building Information
Building Finished SqFt: 6000
Building SqFt: 2928
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Sale Options
Sale Includes: Building, Land
Unit 1
Unit Number: 1
Monthly Rent: 650
Full Baths: 1
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 5
Level: Main Level
Unit Total SqFt: 650
Leased?: Yes
Lease Expiration Date: 2025-01-01
No. of 1 Bedroom Units: 8
Unit Details
Total Units: 8
Income and Expenses
Annual Electric Expense: 7380
Annual Gross Income: 62400
Annual Insurance Expense: 6106
Annual Maintenance Expense: 3000
Annual Trash Expense: 936
Annual Water/Sewer Expense: 3432
Unit 2
Full Baths: 1
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 5
Unit Number: 2
Unit Total SqFt: 650
Unit 3
Full Baths: 1
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 5
Unit Number: 3
Unit Total SqFt: 650
Unit 4
Full Baths: 1
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 5
Unit Number: 4
Unit Total SqFt: 650
Unit 5
Full Baths: 1
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 5
Unit Number: 5
Unit Total SqFt: 650
Unit 6
Full Baths: 1
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 5
Unit Number: 6
Unit Total SqFt: 650
Unit 7
Full Baths: 1
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 5
Unit Number: 7
Unit Total SqFt: 650
Unit 8
Full Baths: 1
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 5
Unit Number: 8
Unit Total SqFt: 650
Location Tax and Other Information
House Number: 601 & 603
Street Name: Main
Street Suffix: Street
Postal City: Oklee
County: Red Lake
State: MN
Zip Code: 56742
Complex/Dev/Subdivision: Okl-Golf Course Add
Property Features
Accessible: No Stairs Internal
Air Conditioning: Wall Unit(s)
Appliances: Range; Refrigerator
Assumable Loan: Not Assumable
Basement: None
CMU Style: Apartments/Multi Family; Single Occupancy
Construction Materials: Frame; Other
Construction Status: Previously Owned
Current Use: Residential
Exterior: Vinyl
Fencing: None
Flooring: Carpet; Vinyl/Linoleum
Foundation: None
Fuel: Electric; Propane
Heating: Baseboard; Forced Air
Loan Terms: Cash; Conventional
On Site Utilities: Electric Common; Heating Common; Hot Water Common
Owner Pays: All Utilities; Electricity; Gas; Grounds Care; Heat; Insurance; Sewer; Water
Parking Characteristics: Parking Lot; Assigned; Uncovered/Open
Rent Rate per Foot: Per Month
Road Frontage: City Street
Road Responsibility: Public Maintained Road
Roof: Asphalt Shingles
Sewer: City Sewer/Connected
Stories: One
Tenant Pays: Cable TV; Telephone
Topography: Level
Wall Description: Drywall; Finished
Water: City Water/Connected
Listing Office: Nordin Realty Inc.
Last Updated: September - 16 - 2026
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. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.