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For Sale:  Fergus Falls MLS# 7044870

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Active
$384,000
/mo Edit
Multi-family:  Triplex
5 br • 4 ba • Built 1961
4,216 sqft • 0.387 acres
MLS# 7044870
763-576-8286
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    Property Description

    This multi-family residential property has loads of potential. Previous owner lived in one unit as a primary residence, and rented out the others allowing for homestead tax status. Currently all units are rented on a month-to-month basis. Currently set up with two 2-bedroom, units and one 1-bedroom unit, with a strong potential for a 4th efficiency or larger unit with minimal modifications. Laundry available in each unit. 1 tuck-under attached garage, and 3 additional detached garage stalls, plus insulated 24 x 16 workshop/storage area and 8x10 storage shed.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $384,000
    Price per sq ft: $91
    Property Type: Multi-family
    City: Fergus Falls
    Garage Spaces: 4
    County: Otter Tail
    Year Built: 1961
    State: MN
    Property Style: Triplex
    Zip Code: 56537
    Subdivision Name: North Division/Fergus Falls

    Interior

    Bedrooms: 5
    Bathrooms: 4
    Finished Area: 4,216 ft2
    Living Area: 4,216 ft2
    Refrigerators: Four
    Basement Details:
    • Block
    • Egress Window(s)
    • Finished
    • Full
    • Single Tenant Access

    Exterior

    Stories: One
    Garage Spaces: 4
    Garage Dimensions: 12 x 20
    Garage Size: 240 ft2
    Foundation Size: 2,228 ft2
    Foundation Dimensions: 32 x 60 14 x 22
    Handicap Accessible: Grab Bars In Bathroom
    Road Responsibility: Public Maintained Road
    Heating System:
    • Baseboard
    • Boiler
    Parking Features:
    • Detached Garage
    • Gravel
    • Tuckunder Garage
    Road Frontage:
    • City Street
    • Paved Streets
    • Sidewalks
    Exterior Material: Block
    Pool: None
    Roof Details: Asphalt

    Rooms

    Laundry: In Unit

    Lot & Land

    Acres: 0.387
    Geolocation: 46.285274, -96.065102
    Lot Dimensions: 75 x 142
    Zoning:
    • Residential-Multi-Family
    • Residential-Single Family
    Lot Description: Tree Coverage - Light

    Schools

    School District: 1944
    District Phone: 2189980544

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $2,199
    Annual Fuel Expense: $2,502
    Annual Insurance Expense: None
    Annual Maintenance Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: $3,143
    Tenant Expenses: Cable TV, Electricity, Telephone

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $4,114
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $4,114

    Income

    Annual Gross Income: $17,400
    Misc. Annual Income: None
    Misc. Monthly Income: None

    Rent

    Annual Net Income: $4,272

    Units

    Total Units: 3

    Miscellaneous

    Fuel System:
    • Electric
    • Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected
    Power Company Name: Ottertail Power

    Mortgage Calculator

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    Payment:  /mo

    Local Home Mortgage Professionals

    Eric Bloomstrand
    Branch Sales Manager
    Fairway Home Mortgage    NMLS#274211
    612-961-2600
    Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
    Connect with Eric today to get started with your home purchase!

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