For Sale: Elk River MLS# 7037372
Active
NEW!
$2,650,000
Commercial: 1 Story
16 br • 16 ba • Built 2020
1.78 acres
MLS# 7037372
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Property Description
55+ 1-Level rental community built in 2020. Hard to find investment opportunity. Community consists of 4 twin homes (8 units). Each unit has a separate PID to provide for residential v.s commercial property tax rate and ease of forming association if owner wanted to sell units individually. Units boast a great floorplan and are well appointed. Very stable and loyal tenant base that have been taking great care of their respective units. Conveniently located on a quiet cul-de-sac and close to local shopping and the Hwy 101/169 corridor.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,650,000
Property Type:
Commercial
City:
Elk River
Garage Spaces:
2
County:
Sherburne
Year Built:
2020
State:
MN
Property Style:
1 Story
Zip Code:
55330
Subdivision Name:
Mulvaney Point Twin Homes
Interior
Bedrooms:
16
Bathrooms:
16
Ceiling Height:
8-10
Flooring:
Carpet, Luxury Vinyl Plank
Refrigerators:
Six or More
Appliances Included:
- Air-To-Air Exchanger
- Dishwasher
- Disposal
- Dryer
- Electric Water Heater
- Microwave
- Range
- Refrigerator
- Stainless Steel Appliances
- Washer
Basement Details:
None
Exterior
Stories:
One
Garage Spaces:
2
Garage Size:
450 ft2
Garage Door Height:
7
Garage Door Width:
16
Air Conditioning:
Central Air
Foundation Size:
1,442 ft2
Handicap Accessible:
No Stairs External, No Stairs Internal
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
- Asphalt
- Attached Garage
- Insulated Garage
- Paved Lot
Unit Amenities:
- Ceiling Fan(s)
- In-Ground Sprinkler
- Kitchen Center Island
- Main Floor Primary Bedroom
- Other
- Paneled Doors
- Patio
- Primary Bedroom Walk-In Closet
- Washer/Dryer Hookup
Road Frontage:
- City Street
- Cul De Sac
- Paved Streets
Pool:
None
Roof Details:
- Age 8 Years or Less
- Asphalt
- Pitched
Lot & Land
Acres:
1.78
Geolocation:
45.302443, -93.548706
Inclusions:
Building, Land, Rental License
Lot Dimensions:
211 x 302 x 391 x 339
Addl Parcels:
75009040110, 75009040115, 75009040120, 75009040125, 75009040130, 75009040135, 75009040145, 75009040140
Zoning:
Residential-Single Family
Lot Description:
Tree Coverage - Medium
Farm
Topography:
Level
Schools
School District:
2241
District Phone:
7632413400
Expenses
Annual Insurance Expense:
$9,530
Annual Maintenance Expense:
$7,000
Annual Water/Sewer Expense:
$1,500
Tenant Expenses:
All Utilities
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$30,528
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$30,528
Income
Annual Gross Income:
$210,720
Rent
Annual Net Income:
$157,720
Units
Total Units:
8
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
Water System:
City Water/Connected
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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 Acuity Group.
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.