For Sale: Burnsville MLS# 6734929
Active
$2,170,000
Commercial: Apartments
Built 1961
1.36 acres
Burnsville-Eagan-Savage schools
MLS# 6734929
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Property Description
This property features three 6-unit buildings with lots of green space. Six 2-Bedroom Units and twelve 1-Bedroom units. City park directly across the street. Most units have been upgraded with new windows, flooring, bathrooms, kitchens, and fixtures. Residents enjoy private entrances. Independent HVAC for each unit. Residents pay their own gas and electric. Common laundry room in each building - laundry machines are owned. 1 Outbuilding with a 2 stall garage. Zoning recently revised to R3A - Medium Density - this allows for construction of additional units. Current rents are the lowest available in the area. Historically low vacancy. Value-Add opportunities include: Current rents are below market value, add additional units, increase laundry income, current owner is not using RUBS for common utilities. Convenient location on the bus line near 35W. Very spacious setting. Contact agent for additional information.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,170,000
Property Type:
Commercial
City:
Burnsville
Garage Spaces:
2
County:
Dakota
Year Built:
1961
State:
MN
Property Style:
Apartments
Zip Code:
55337
Subdivision Name:
Vista View 7th Add
Exterior
Stories:
Two
Garage Spaces:
2
Other Parking Spaces:
24
Air Conditioning:
Wall Unit(s)
Foundation Size:
1,887 ft2
Handicap Accessible:
No Stairs Internal
Heating System:
Forced Air
Parking Features:
- Heated Garage
- Parking Lot
Exterior Material:
- Block
- Wood Siding
Roof Details:
- Age Over 8 Years
- Flat
Lot & Land
Acres:
1.36
Geolocation:
44.769319, -93.293979
Inclusions:
Building, Land, Leases
Lot Dimensions:
Irregular
Addl Parcels:
028220601030, 028220601020
Zoning:
Residential-Multi-Family
Schools
School District:
191
District Phone:
952-707-2000
Expenses
Annual Electric Expense:
$2,073
Annual Fuel Expense:
$3,655
Annual Insurance Expense:
$10,928
Annual Trash Expense:
$5,484
Annual Water/Sewer Expense:
$7,100
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$26,400
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$26,400
Income
Annual Gross Income:
$220,000
Units
Total Units:
18
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Sewer System:
City Sewer - In Street
Available Utilities:
- Electric Separate
- Heating Separate
Water System:
- City Water - In Street
- Well
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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!
Listing provided by RMLS,
courtesy of RES 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.