For Sale: Albert Lea MLS# 6541237
Active Contingent
$425,000
Commercial: Apartments
Built 1937
0.33 acres
Albert Lea schools
MLS# 6541237
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Property Description
A Great invest is on the horizon in this well kept 6-unit, two story, apartment building with 4 800-sq. ft. 2-bedroom units, 1 675-sq. ft. 1-bedroom unit and a studio apartment. Tenants pay electricity and WiFi. Owners pay gas, water, garbage, taxes, insurance, snow, lawn and maintenance. Coin-operated laundry on site. The 4 garages are also rented for an additional fee each. Located , within blocks of Albert Lea Lake and Blazing star trail, and easy interstate access.
Don't let this one slip away.
Listing
Listing Status:
Active Contingent
Contingency:
Inspection
List Price:
$425,000
Property Type:
Commercial
City:
Albert Lea
Garage Spaces:
4
County:
Freeborn
Year Built:
1937
State:
MN
Property Style:
Apartments
Zip Code:
56007
Subdivision Name:
Sorensons Sub
Interior
Appliances Included:
- Cooktop
- Dryer
- Range
- Refrigerator
- Washer
Basement Details:
- Block
- Full
Exterior
Stories:
Two
Garage Spaces:
4
Garage Dimensions:
38x20
Garage Size:
760 ft2
Other Parking Spaces:
2
Air Conditioning:
Window Unit(s)
Foundation Size:
2,070 ft2
Foundation Dimensions:
46x45
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
- Detached
- Gravel
Shared Amenities:
Coin-op Laundry Owned
Road Frontage:
- City Street
- Paved Streets
Exterior Material:
Steel Siding
Roof Details:
Flat
Lot & Land
Acres:
0.33
Geolocation:
43.6375190195, -93.363612021
Inclusions:
Building, Land
Lot Dimensions:
72 x 198
Zoning:
Residential-Multi-Family
Schools
School District:
241
District Phone:
507-379-4800
Expenses
Annual Fuel Expense:
$4,680
Annual Insurance Expense:
$1,800
Annual Gross Expense:
$38,350
Annual Trash Expense:
$2,400
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$2,416
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$2,456
Income
Annual Gross Income:
$65,850
Rent
Annual Net Income:
$27,350
Units
Total Units:
6
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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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 Unique 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.