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Sold
Sold
$369,990  (list price)
$360,000
/mo   Edit
MLS# 5431927
Commercial
Built 1911
Central schools
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    Description:   Well maintained 7 unit apartment building in Twin Cities Suburb of Norwood Young America. Six 2 bed units and a laundromat on an increasing 10 year lease. New roof in 2019. 100% occupied, easy to rent and well maintained with separate electric and fuel. Off street parking. Two PIDs. Listed at just shy of 12% cap rate.
    List Price: $369,990
    Sold Price: $360,000
    Sold Date: 03/20/2020
    Price/sq ft: None
    Property Type: Commercial
    Listing Status: Sold
    Contingency: None
    Year Built: 1911
    City: Norwood Young America
    County: Carver
    State: MN
    Zip Code: 55397

    Interior

    Building Fin Sq Ft: 6,446 ft²
    Total Ranges: Six or More
    Total Refrigerators: Six or More
    Basement Details: Partial

    Exterior

    Heating System: Hot Water
    Foundation Size: 6,446 ft²
    Shared Amenities: Coin-op Laundry Leased
    Handicap Accessible: Doors 36"+
    Exterior Material: Vinyl
    Garage Spaces: 0
    Other Parking Spaces: 0
    Roof Details: Pitched, Unspecified Shingle

    Lot

    Acres: 0
    Latitude: 44.78341100
    Longitude: -93.91255400
    Lot Size Dim.: IRR
    Zoning: Residential-Multi-Family, Business/Commercial

    Schools

    School District: 108 - Central
    District Phone: 952-467-7000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: $3,000
    Annual Maintenance Expense: $550
    Annual Repair Expense: $2,300
    Total Annual Expenses: $18,122
    Annual Trash Expense: $1,500
    Annual Water/Sewer Expense: None
    Owner Expenses: Taxes, Insurance, Water/Sewer, Maintenance/Repair, Trash
    Tenant Expenses: Electric, Fuel

    Financial & Taxes

    Tax Year: 2019
    Annual Taxes: $7,052
    Assessment Pending: Unknown
    Taxes w/ Assessments: $7,052

    Income

    Annual Gross Income: 59688.00

    Rent

    Annual Net Income: $42,169

    Unit

    Total Rooms in Unit 1: 0
    Total Rooms in Unit 2: 6
    Total Rooms in Unit 3: 0
    Total Units: 7
    Number of Efficiencies: 0

    Miscellaneous

    Current Use: Residential, Commercial
    Fuel System: Natural Gas
    Owner Occupied: N
    Sale Includes: Building, Leases
    Sewer System: City Sewer/Connected
    Utilities: Heating Separate, Electric Separate
    Water System: City Water/Connected

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    Get to know our Home Mortgage Professionals

    Justin
    Larson
    Movement
    Jeff
    Zajac
    TruStone
    Jason
    Roaldson
    CrossCountry
    Justin Larson
    Loan Officer
    Movement Mortgage NMLS#1490922
    Justin, the "Mortgage Man", is a senior loan officer who works with one of the nation top mortgage companies, Movement Mortgage! Justin has a dedicate team to streamline the home loan process. As a Veteran of Operation Iraqi Freedom and Eagle Scout he has a "service to others" attitude that put him well above his peers in the mortgage industry. Honesty, trust and friendship through solid and open communication is how he has built his success in the industry. The American Dream of owning a home is one of the largest purchases of most people lives. It’s a long process that can be frustrating, scary, and really confusing. He experienced this when purchasing his first couple of homes and looking back he wished he had a friend that would take the time to educate him on the best options for him and his family. This is the driving force of why I got into this industry.
    320-296-9177

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    Listing provided by RMLS, courtesy of Ferndale Realty