For Sale: Adams MLS# 7006896
Active
NEW!
$449,900
Commercial: 2 Stories
14 br • 8 ba • Built 1979
0.703 acres
MLS# 7006896
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
Well-maintained 8-unit apartment building located in Adams. The property features a balanced unit mix of six 2-bedroom units and two 1-bedroom units.
The building is configured with two separate coin-operated laundry rooms, one serving each section of the property. Electric utilities are separately metered, and electric heat is provided, allowing residents to manage their own utility usage.
The property currently operates with on-site management, which is available to remain in place or may transition at the discretion of new ownership. Existing leases allow for 30-day notice to vacate following a change in ownership, offering operational flexibility.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$449,900
Property Type:
Commercial
City:
Adams
Garage Spaces:
0
County:
Mower
Year Built:
1979
State:
MN
Property Style:
2 Stories
Zip Code:
55909
Subdivision Name:
Mays 1st Add
Interior
Bedrooms:
14
Bathrooms:
8
Appliances Included:
- Range
- Refrigerator
Exterior
Stories:
Two
Garage Spaces:
0
Air Conditioning:
Wall Unit(s)
Foundation Size:
3,072 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Baseboard
Parking Features:
Gravel
Roof Details:
Asphalt
Lot & Land
Acres:
0.703
Geolocation:
43.5647025773, -92.7185176575
Inclusions:
Building, Leases
Lot Dimensions:
180 x 170
Zoning:
- Business/Commercial
- Residential-Multi-Family
Schools
School District:
1857
District Phone:
5075823283
Expenses
Annual Caretaker Expense:
$2,400
Annual Electric Expense:
$500
Annual Fuel Expense:
$500
Annual Maintenance Expense:
$1,025
Annual Trash Expense:
$5,000
Annual Water/Sewer Expense:
$1,500
Tenant Expenses:
Electricity, Heat
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$6,856
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$6,856
Income
Annual Gross Income:
$60,300
Rent
Annual Net Income:
$50,400
Units
Total Units:
8
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer - In Street
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Common
Water System:
City Water - In Street
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.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
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 Compass.
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.