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Active
$1,375,000
/mo Edit
Commercial:  Apartments
Built 1961
0.28 acres
Richfield schools
MLS# 6525001
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    Property Description

    PLEASANT AVENUE APARTMENTS IS A VERY CLEAN AND WELL MAINTAINED 11-UNIT LOCATED IN THE HEART OF RICHFIELD, MN. THE OWNER HAS COMPLETED 10 OF THE 11 UNITS WITH HIGH END KITCHEN REMODELS WITH NEWER CABINETS, COUNTER TOPS, AND ENERGY EFFICIENT STAINLESS STEEL APPLIANCE PACKAGES INCLUDING DISHWASHERS. TWO OF THE APARTMENTS HAVE BUILT-IN MICROWAVES. EXTERIOR FEATURES NEWER WINDOWS AND ROOF. THE HOT WATER BOILER RECENTLY WAS REPLACED WITH A HIGH EFFICIENCY BOILER!! PROFESSIONALLY MANAGED, NO DELINQUENCIES, AND 100% FULL!!

    Listing

    Contingency: None
    City: Richfield
    County: Hennepin
    State: MN
    Property Style: Apartments
    Zip Code: 55423
    Subdivision Name: Rgt Nicollet Homes 2nd Add

    Interior

    Ceiling Height: 8-10
    Ranges: One Per Unit
    Refrigerators: One Per Unit
    Appliances Included:
    • Range
    • Refrigerator
    Basement Details:
    • Egress Window(s)
    • Finished

    Exterior

    Stories: Three Or More
    Garage Spaces: 0
    Other Parking Spaces: 11
    Air Conditioning: Wall Unit(s)
    Foundation Size: 3,800 ft2
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System:
    • Boiler
    • Hot Water
    Parking Features: Paved
    Exterior Material: Brick/Stone
    Roof Details:
    • Age Over 8 Years
    • Flat
    • Rubber

    Lot & Land

    Acres: 0.28
    Geolocation: 44.886514, -93.28276
    Inclusions: Building, Land, Leases, Rental License
    Lot Dimensions: 100 x 120
    Zoning: Residential-Multi-Family

    Farm

    Topography: Level

    Schools

    School District: 280
    District Phone: 612-798-6010

    Expenses

    Annual Caretaker Expense: $2,750
    Annual Electric Expense: None
    Annual Fuel Expense: $4,206
    Annual Insurance Expense: $4,618
    Annual Gross Expense: $38,974
    Annual Trash Expense: $3,398
    Annual Water/Sewer Expense: $2,633
    Tenant Expenses: Cable TV, Electricity

    Financial & Taxes

    Tax Year: 2024
    Annual Taxes: $16,336
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $16,336

    Income

    Annual Gross Income: $122,193

    Rent

    Annual Net Income: $83,218

    Units

    Total Units: 11

    Miscellaneous

    Current Use: Residential
    Fuel System: Natural Gas
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Separate
    • Heating Common
    • Hot Water Common
    Water System: City Water/Connected

    Mortgage Calculator

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    Payment:  /mo

    Local Home Mortgage Professionals

    651-253-2144
    Jason & Kim Stone
    Branch Manager & Co-Branch Manager
    Fairway Mortgage    NMLS#1018649
    Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.

    Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.

    Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
    It would be our pleasure to assist you with your home purchase!

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    Listing provided by RMLS, courtesy of Apartment Cash Flow, Inc..
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.