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For Sale:  Alexandria MLS# 6540522

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Active
$565,000
/mo Edit
Multi-family:  Apartments
Built 1940
4,996 sqft•1.15 acres
Alexandria schools
MLS# 6540522
763-576-8286
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    Property Description

    Attention Investors! Step right into your next investment with this property that can wear many hats. Right in the heart of lakes country sits this nicely managed and remodeled mixed use space. Looking to move your business or office, and make some nice rental money to boot? Here you go! Apartment 1 is a 3 bed 2 bath unit that rents for $1425, apartment 2 is a 2 bed 1 bath and currently rents for $1275, and apartment 3 is a 3 bed 1 bath and rent is $1475. The commercial space is currently owner-occupied, so there is even more income producing potential! Looking to move your business? This would be a great spot to move your boutique/coffee shop, a water equipment rental shop, an art gallery(current use), a professional office space or even a bait shop! Whether you're adding to your portfolio, or just starting your investment journey, the possibilities are plentiful, and this is a must see.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $565,000
    Price per sq ft: $113
    Property Type: Multi-family
    City: Alexandria
    County: Douglas
    Year Built: 1940
    State: MN
    Property Style: Apartments
    Zip Code: 56308
    Subdivision Name: Carlos Div Of East Add To Thr

    Interior

    Finished Area: 4,996 ft2
    Living Area: 4,996 ft2
    Ranges: Three
    Refrigerators: Three
    Basement Details:
    • Block
    • Full
    • Unfinished

    Exterior

    Stories: Two
    Foundation Size: 4,996 ft2
    Foundation Dimensions: Irregular
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Forced Air
    Parking Features: Gravel
    Shared Amenities: Coin-op Laundry Owned
    Road Frontage: City Street
    Exterior Material: Wood Siding
    Roof Details:
    • Age 8 Years or Less
    • Age Over 8 Years
    • Flat
    • Metal

    Lot & Land

    Acres: 1.15
    Geolocation: 45.933626, -95.366611
    Lot Dimensions: Irregular
    Zoning:
    • Business/Commercial
    • Residential-Multi-Family
    Lot Description:
    • Cleared
    • Tree Coverage - Light

    Schools

    School District: 206
    District Phone: 320-762-2141

    Expenses

    Annual Electric Expense: $3,600
    Annual Fuel Expense: $2,064
    Annual Insurance Expense: $3,800
    Annual Maintenance Expense: $300
    Annual Gross Expense: $18,000
    Annual Trash Expense: $1,020

    Financial & Taxes

    Tax Year: 2024
    Annual Taxes: $5,778
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $5,778

    Income

    Annual Gross Income: $50,000

    Units

    Total Units: 4

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: Yes
    Sewer System: City Sewer/Connected
    Water System: Well

    Mortgage Calculator

    Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment and loan term. Property taxes are based on the last known value for this property or 0.012 of property price when data is unavailable. Your interest rate and insurance rates will vary based on credit score, loan type, etc.
    Payment:  /mo

    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.
    It would be our pleasure to assist you with your home purchase!

    Apply Online     Home Purchase Qualifier     Refinance Rate Checker    

    Listing provided by RMLS, courtesy of Real Estate by Jo, LLC.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.