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Sold
Sold
$995,000  (list price)
$970,000
/mo   Edit
MLS# 5257789
1009 1st Street SE
Forest Lake, MN 55025
Commercial
Built 2000
0.6 acres
Forest Lake schools
Info: 763-576-8286
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    Description:   Fully rented 8-plex with 8 one-level units. Each is 2BR/1BA with 2-car garages. High-demand one-level slab side x side units within walking distance of downtown and lakes, parks, shopping etc. Great investment opportunity in growing Forest Lake . Easy access to Mpls or St.Paul. triplex next door is also for sale for $599, 000 for a total of 11 possible 1-level units all in one easy to manage location. Not many of these high demand style units available for rental investors. 24-48 hour notice minimum for all showings.
    List Price: $995,000
    Sold Price: $970,000
    Sold Date: 08/01/2019
    Price/sq ft: None
    Property Type: Commercial
    Listing Status: Sold
    Contingency: None
    Year Built: 2000
    City: Forest Lake
    Zip Code: 55025

    Interior

    Building Fin Sq Ft: 6,240 ft²
    Appliances Included: Range, Microwave, Dishwasher, Refrigerator, Washer, Dryer
    Total Ranges: One Per Unit
    Total Refrigerators: One Per Unit
    Basement Details: Slab

    Exterior

    Air Conditioning: Window
    Heating System: Forced Air
    Foundation Size: 9,192 ft²
    Unit Amenities: Patio, Washer/Dryer Hookup
    Road Frontage: City, Paved Streets
    Handicap Accessible: No Stairs Internal, No Stairs External
    Exterior Material: Metal, Vinyl
    Garage Spaces: 16
    Other Parking Spaces: 16
    Roof Details: Asphalt Shingles, Pitched

    Lot

    Acres: 0.6
    Lot Description: Tree Coverage - Light
    Latitude: 45.26932200
    Longitude: -92.98200100
    Lot Size Dim.: 200x130
    Dev/Complex Name: Beards Add
    Zoning: Residential-Multi-Family

    Schools

    School District: 831 - Forest Lake
    District Phone: 651-982-8103

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: $4,656
    Annual Maintenance Expense: $2,400
    Annual Repair Expense: None
    Annual Gross Expense: $17,698
    Total Annual Expenses: $17,698
    Annual Trash Expense: $1,020
    Annual Water/Sewer Expense: None
    Owner Expenses: Taxes, Insurance, Maintenance/Repair, Trash, Snow, Lawn
    Tenant Expenses: Water/Sewer, Electric, Fuel, Cable T.V., Broadband

    Financial & Taxes

    Tax Year: 2019
    Annual Taxes: $10,780
    Assessment Pending: No
    Taxes w/ Assessments: $10,780

    Income

    Annual Gross Income: 92400.00

    Rent

    Annual Net Income: $74,702

    Unit

    Total Rooms in Unit 1: 0
    Total Rooms in Unit 2: 8
    Total Rooms in Unit 3: 0
    Total Units: 8
    Number of Efficiencies: 0

    Miscellaneous

    Current Use: Residential
    Fuel System: Natural Gas
    Owner Occupied: N
    Sale Includes: Building, Land, Fixture/Equipment, Leases
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

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