$565,000
Thief River Falls, MN 56701
MLS# 6371042
1 / 12
Property Description
10 plex apartment building for sale. (1) 2 bedroom and (9) 1 bedroom, all with 1 full bath. No vacancies. Currently offered at a 10% cap rate.
Details
None
Allow Auto Valuation: Yes
Allow Consumer Comment: Yes
MLSID: RMLS
Contract Information
Status: Active
Current Price: $565,000
Original List Price: 695500
Contingency: None
ListPrice: 565000
List Date: 2023-05-15
Owner is an Agent?: Yes
Auction?: No
Office/Member Info
Association: NWMAR
General Property Information
Lot Measurement: Square Feet
Multiple PIDs?: No
Other Parking Spaces: 20
Owner Occupied: No
Year Built: 1976
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 4328
Power Company: Red Lake Electric Cooperative
For Sale or Lease: For Sale
Lot Dimensions: 200X219
Assessment Pending: Yes
Location, Tax and Other Information
Legal Description: AASEBYS SECOND SUBDIVISION 540 SQ FT IN SW CORNER OF LOT 6 & ALL OF LOTS 7 & 8 LESS 540 FT IN NE CORNER OF LOT 7 BLK 5
Map Page: 999
Municipality: Thief River Falls
Rental License?: No
School District Phone: 218-681-8711
Map Coordinate Source: King's Street Atlas
House Number: 15244
Street Name: Douglas
Street Suffix: Avenue
Postal City: Thief River Falls
County: Pennington
State: MN
Zip Code: 56701
Zip Plus 4: 676
Property ID Number: R1604302450
Complex/Dev/Subdivision: Aasebys Second Sub
Tax Year: 2023
Tax Amount: 1604
In Foreclosure?: No
Potential Short Sale?: No
Assessment Balance: 119.9
Lender Owned?: No
Tax With Assessments: 1724
Directions & Remarks
Public Remarks: 10 plex apartment building for sale. (1) 2 bedroom and (9) 1 bedroom, all with 1 full bath. No vacancies. Currently offered at a 10% cap rate.
Directions: Go South on Hwy 59 and turn West just before the theater
Building Information
Building Finished SqFt: 3936
Building SqFt: 4328
Fractional Ownership: No
Income and Expenses
Annual Electric Expense: 9657
Annual Fuel Expense: 1919.4
Annual Gross Expenses: 25919.85
Annual Gross Income: 82800
Annual Insurance Expense: 7410.54
Annual Maintenance Expense: 1371.47
Annual Net Income: 56880.15
Annual Trash Expense: 1837.44
Annual Water/Sewer Expense: 2000
Total Annual Expenses: 25919.85
Lease Details
Land Leased: No
Miscellaneous Information
FIPS Code: 27113
Homestead Desc: Other
Structure Information
Sale Includes: Building,Business Assets,Inventory,Land,Leases
Unit 1
No. of 1 Bedroom Units: 9
Unit 2
No. of 2 Bedroom Units: 1
Unit Details
Total Units: 10
Property Features
Accessible: None
Air Conditioning: None
Amenities Shared: None
Appliances: Electric Water Heater; Range; Refrigerator
Assumable Loan: Not Assumable
Basement: Crawl Space
CMU Style: Apartment
Construction Status: Previously Owned
Current Use: Residential
Exterior: Fiber Board; Vinyl
Fencing: None
Fuel: Electric
Heating: Baseboard
Loan Terms: Cash; Conventional
Lock Box Type: Combo
Lot Description: Additional Land Available
No. of Ranges: Six or More
No. of Refrigerators: Six or More
On Site Utilities: Electric Separate
Owners Expense: Insurance; Lawn; Maintenance/Repair; Snow Removal; Taxes; Trash Collection
Parking Characteristics: Driveway - Gravel
Pool Description: None
Road Frontage: Township
Road Responsibility: Public Maintained Road
Sewer: Mound Septic
Stories: One
Tenant Expenses: None
Water: Drilled; Shared System; Well
Listing Office: Better Homes and Gardens Real Estate First Choice
Last Updated: May - 16 - 2023
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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. ©2022 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.