For Sale: Welch Twp MLS# 6464578
Active
$759,999
Commercial: Apartments
Built 1920
0.15 acres
Red Wing schools
MLS# 6464578
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Property Description
Whether you're adding to or just starting your real estate portfolio this a versatile addition. The building has 3 long term rental units upstairs and 3 fully furnished short term rental units on the main level. The STR units have been approved by the township and the county and have brought many people to stay and enjoy all Welch has to offer. The skiing, hiking, biking, tubing, canoeing/kayaking, hunting, snowmobiling, trail riding and sight seeing. Very close proximity to Welch Mill Tubing, Cannon Valley Trial and Welch Village Ski Area. In addition to STR they also make great mid term rentals for seasonal workers and can be rented long term. The building underwent a complete transformation in 2021 full of updates on 5 of the 6 units. Units 1, 2, 3, 6 all have been completely updated with new flooring, forced air hvac, kitchen cabinets with quartz countertops, stainless steel appliances, bathroom, plumbing, electrical, trim and solid core doors. Each unit has fiber internet.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$759,999
Property Type:
Commercial
City:
Welch Twp
Garage Spaces:
0
County:
Goodhue
Year Built:
1920
State:
MN
Property Style:
Apartments
Zip Code:
55089
Interior
Ceiling Height:
11-15
Ranges:
One Per Unit, Six or More
Refrigerators:
One Per Unit, Six or More
Appliances Included:
- Dishwasher
- Dryer
- ENERGY STAR Qualified Appliances
- Fuel Tank - Rented
- Microwave
- Range
- Refrigerator
- Stainless Steel Appliances
- Washer
Basement Details:
- Concrete
- Storage Space
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
4
Air Conditioning:
Central Air
Foundation Size:
2,250 ft2
Foundation Dimensions:
45x50
Handicap Accessible:
Doors 36"+, No Stairs External, No Stairs Internal, Partially Wheelchair
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Boiler
- Forced Air
Parking Features:
Concrete
Shared Amenities:
Patio
Road Frontage:
- County Road
- Township
Exterior Material:
- Brick Veneer
- Vinyl Siding
Roof Details:
Rubber
Lake & Waterfront
Waterfront Present:
N
Waterfront Name:
Cannon River
Waterfront View:
River, South
DNR Lake ID#:
S9990297
Lake Chain Name:
N
Lake Acres:
0
Lake Depth:
0
Waterfront:
River View
Lot & Land
Acres:
0.15
Geolocation:
44.56823, -92.738178
Inclusions:
Business, Fixture/Equipment, Leases
Lot Dimensions:
70 x 80
Zoning:
Residential-Multi-Family
Lot Description:
Corner Lot
Farm
Topography:
Level
Schools
School District:
256
District Phone:
651-385-4500
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$3,600
Annual Fuel Expense:
$3,000
Annual Insurance Expense:
$3,000
Annual Maintenance Expense:
$2,000
Annual Gross Expense:
$35,000
Annual Trash Expense:
$1,400
Annual Water/Sewer Expense:
$3,600
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2023
Annual Taxes:
$2,994
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$7,944
Income
Annual Gross Income:
$84,000
Rent
Annual Net Income:
$49,000
Units
Total Units:
6
Miscellaneous
Current Use:
- Bed & Breakfast
- Hotel/Motel
- Residential
- Resort
Fuel System:
- Electric
- Propane
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Hot Water Common
Water System:
Well
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
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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.
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!
Listing provided by RMLS,
courtesy of Vibrant Realty.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.