ORION
REAL ESTATE 630
1st Street South Waite Park, MN 56387
320-251-1177
FOR SALE
- INVESTMENT PROPERTY 8 UNIT APARTMENT
COMPLEX
LOCATION:
302 John Street, Clarissa, MN # UNITS:
8 Total, 1 – One bedroom; 7 - Two Bedrooms
LAND AREA: 24,570 sq ft BUILDING:
6,720 SF; Horizontal steel siding and a shingled roof; asphalt surface
lot
parking.
CONSTRUCTION: Two
story frame over 4” poured concrete slab/footings
CITY SERVICES: City water and city sewer HVAC:
Heat is baseboard electric in the rooms and common areas, and the
apartments have individual AC units. Each unit has an exterior electric
outlet for cars in parking lot. OCCUPANCY:
100%. GROSS RENTAL INCOME: $38,154 (2008) $35,844
(2007); $35,743
(2006)
CAP RATE: 8.13%
TENANT MIX: A number of long
term residents ASKING PRICE:
$359,000 TERMS: Negotiable
COMMENTS: This is the only
apartment building within 25 miles open to everyone. (As opposed to
just Low Housing or Srs.) No advertising necessary, strictly word of
mouth. This property has an excellent rental history with a rare
vacancy. Qualifies for HRA (have 4). Remodeled under the USDA grant
program approximately 4-5 years ago. Coin operated Laundry provides
addl
income. There is one main entrance on each side of the building.
Outside
storage shed included.
Call Steve for More
Information at 320-760-7299
or via Email -
click on the link
The
information above has been obtained from
sources believed reliable. While we do not doubt its accuracy we have
not
verified it and make no guarantee, warranty or representation about it.
It
is your responsibility to independently confirm its accuracy and
completeness.
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