For Sale: Detroit Lakes MLS# 6491874
Active
$639,900
Commercial: Apartments
Built 1969
0.74 acres
Detroit Lakes schools
MLS# 6491874
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Property Description
GREAT INVESTMENT OPPORTUNITY!! This professionally managed 12-unit apartment complex comes with a great rental history and is located close to amenities in Detroit Lakes. Featuring 11 two-bedroom units and 1 one-bedroom unit, each equipped with kitchen appliances and full bathrooms. The complex is complete with coin operated laundry, separate electric meters and a paved parking lot. Don't miss out on this fantastic opportunity to enhance your investment portfolio with a multi-family building in a great location!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$639,900
Property Type:
Commercial
City:
Detroit Lakes
County:
Becker
Year Built:
1969
State:
MN
Property Style:
Apartments
Zip Code:
56501
Subdivision Name:
Mt View 2nd Add
Interior
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Finished
- Full
Exterior
Stories:
Three Or More
Other Parking Spaces:
12
Air Conditioning:
None
Foundation Size:
2,856 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Boiler
Parking Features:
- Asphalt
- Parking Lot
- Paved
Shared Amenities:
Coin-op Laundry Owned
Road Frontage:
City Street
Exterior Material:
- Brick/Stone
- Vinyl Siding
Roof Details:
Rubber
Lot & Land
Acres:
0.74
Geolocation:
46.823583, -95.834073
Inclusions:
Building
Lot Dimensions:
180 x 180
Zoning:
Business/Commercial
Schools
School District:
22
District Phone:
218-847-9271
Expenses
Annual Caretaker Expense:
$6,104
Annual Fuel Expense:
$17,404
Annual Insurance Expense:
$4,313
Annual Maintenance Expense:
$13,081
Annual Gross Expense:
$46,817
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2023
Annual Taxes:
$6,007
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$8,148
Income
Annual Gross Income:
$86,258
Rent
Annual Net Income:
$39,441
Units
Total Units:
12
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
Electric Separate
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Keller Williams Realty Professionals.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.