$1,799,900
702 7th Street SW
Roseau, MN 56751
MLS# 6448431
Status: Pending



702 7th Street SW, Roseau, MN 56751
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Property Description
Incredible 24 unit apartment building located in the heart of Roseau, MN. This property is walking distance to the hospital, Polaris and other thriving businesses in the community. It's currently being used for a senior assisted living facility and is fully handicap accessible but that business is not included in the sale. There are 24 units with one bed/one bath and full kitchen layouts along with many common amenities. Some of the shared amenities include a community kitchen, movie/media room, patios with raised garden beds, coin-op laundry and more. This building is in immaculate condition and well maintained over the years. With no needed improvements and many value add opportunities this can make for a one of a kind investment property. Call today to schedule a viewing and discuss future opportunities.

Details
None
MLSID: RMLS
Contract Information
Digitally Altered Photos: No
Status: Pending
Off Market Date: 2024-05-21
Current Price: $1,799,900
Contingency: None
ListPrice: 1799900
List Date: 2023-10-16
Owner is an Agent?: No
Auction?: No
Office/Member Info
Association: NWMAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Year Built: 2006
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 16032
For Sale or Lease: For Sale
Acres: 2.31
Lot Dimensions: 400x340
Location, Tax and Other Information
Legal Description: LOT 2 & S1/2 LOT 3 BLK 4; KLEMAS 3RD SUBDIVISION
Listing City: Roseau
Map Page: 999
Municipality: Roseau
Rental License?: No
School District Phone: 218-463-1471
House Number: 702
Street Name: 7th
Street Suffix: Street
Street Direction Suffix: SW
Postal City: Roseau
County: Roseau
State: MN
Zip Code: 56751
Zip Plus 4: 1498
Property ID Number: 540291662
Complex/Dev/Subdivision: Klemas 3rd Add
Tax Year: 2022
Tax Amount: 17737
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: Incredible 24 unit apartment building located in the heart of Roseau, MN. This property is walking distance to the hospital, Polaris and other thriving businesses in the community. It's currently being used for a senior assisted living facility and is fully handicap accessible but that business is not included in the sale. There are 24 units with one bed/one bath and full kitchen layouts along with many common amenities. Some of the shared amenities include a community kitchen, movie/media room, patios with raised garden beds, coin-op laundry and more. This building is in immaculate condition and well maintained over the years. With no needed improvements and many value add opportunities this can make for a one of a kind investment property. Call today to schedule a viewing and discuss future opportunities.
Directions: From Highway 89 south of turn west on 7th st sw and travel for .17 miles.
Assessments
Tax With Assessments: 18512
Building Information
Building Finished SqFt: 16032
Building SqFt: 16032
Income and Expenses
Annual Gross Expenses: 87000
Annual Gross Income: 210000
Annual Insurance Expense: 14000
Annual Net Income: 123000
Total Annual Expenses: 87000
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Sale Options
Sale Includes: Building, Fixture/Equipment
Unit 1
No. of 1 Bedroom Units: 24
Unit Details
Total Units: 24
Property Features
Accessible: Fully Wheelchair
Air Conditioning: Wall
Amenities Shared: Coin-op Laundry Owned; Common Garden; Fire Sprinkler System; Patio; Other
CMU Style: Apartments/Multi Family
Construction Materials: Frame
Construction Status: Previously Owned
Current Use: Residential
Exterior: Cement Board
Flooring: Carpet
Fuel: Natural Gas
Heating: Boiler; In-Floor Heating
On Site Utilities: Heating Common; Heating Separate
Owner Pays: All Utilities; Insurance; Janitorial Service; Janitorial Service; Lawn; Lawn; Snow Removal; Taxes; Trash Collection; Water
Parking Characteristics: Parking Lot; Paved Lot
Roof: Asphalt Shingles
Sewer: City Sewer/Connected
Stories: One
Water: City Water/Connected

Listing Office: Reed Realty

Last Updated: May - 21 - 2024

702 7th Street SW, Roseau, MN 56751 - MLS# 6448431
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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. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.