For Sale: Millville MLS# 6683502
Active
$925,000
Commercial: Apartments
Built 1958
0.74 acres
Plainview-Elgin-Millville schools
MLS# 6683502
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Property Description
Great Investment Opportunity 12 Unit Apartment building with over $400k In recent Rehab/Updates Done in the past year located just 20 minutes from Rochester and Lake City. 8 units rebuilt from the studs on up including all new wiring, new plumbing, lvp and laminate flooring throughout, updated internet, insulated between units, spray foamed exterior walls, all new kitchens, baths with exhaust fans, fixtures, hvac, wired for mini split units, flooring, lights, and exterior all new windows and siding, common areas have all been updated with paint, flooring and lighting, off street parking , 2 other units fully refinished, On site office and storage area, 2 coin op laundry areas, large flat lot located Zumbro River Valley great recreation area, fishing, tubing, atv/utv riding and hunting. This is as new a building as you can get without building new, This building has excellent rental history and provides great income stream, 9% cap rate!!
Unique opportunity to pick your own tenants!! Excellent Rental History with limited Competition, Tenants enjoy the small town peaceful living.
Call with any questions or to schedule your showing today.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$925,000
Property Type:
Commercial
City:
Millville
Garage Spaces:
0
County:
Wabasha
Year Built:
1958
State:
MN
Property Style:
Apartments
Zip Code:
55957
Subdivision Name:
Town Of Millville
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
16
Air Conditioning:
Window Unit(s)
Foundation Size:
7,500 ft2
Handicap Accessible:
Hallways 42"+, No Stairs Internal, Partially Wheelchair
Road Responsibility:
Public Maintained Road
Heating System:
Baseboard
Parking Features:
- Asphalt
- Parking Lot
Shared Amenities:
Coin-op Laundry Owned
Unit Amenities:
- Ethernet Wired
- Hardwood Floors
Road Frontage:
City Street
Exterior Material:
- Brick/Stone
- Fiber Cement
Roof Details:
Asphalt
Lot & Land
Acres:
0.74
Geolocation:
44.244337, -92.297194
Inclusions:
Building
Lot Dimensions:
199 x 160
Zoning:
Residential-Multi-Family
Schools
School District:
2899
District Phone:
507-534-3651
Expenses
Annual Electric Expense:
$6,000
Annual Fuel Expense:
$1,200
Annual Insurance Expense:
$4,400
Annual Maintenance Expense:
$1,000
Annual Gross Expense:
$22,536
Annual Trash Expense:
$2,328
Annual Water/Sewer Expense:
$2,712
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$3,848
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$3,848
Income
Annual Gross Income:
$102,300
Rent
Annual Net Income:
$79,764
Units
Total Units:
12
Miscellaneous
Current Use:
Residential
Fuel System:
- Electric
- Propane
Owner Occupied:
No
Sewer System:
Septic System Compliant - Yes
Available Utilities:
- Electric Common
- Electric Separate
- Heating Separate
- Hot Water Common
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Re/Max Results.
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.