INCOME PROPERTY
 
    

ADDRESS:  511 & 521 Main St, Holdingford, MN
PROPERTY TYPE: Triplex residential rental plus commercial office rental.
SPECIAL FEATURES OF LOCATION:  Downtown location, close to schools, post office, bank, city center, restaurants and Wobegon Trail.
SIZES: Triplex: 24 x 72, a total 3456 sq/ft consisting of two main floor 1 BR apartments and a
1728 sq/ft second floor 2 BR apartment; all currently rented. Built in 1910, the building has been tastefully and nearly totally renovated within the past 5-10 years. New rubber roof approx. 6 years ago.

Commercial Building:  26 x 24, 624 sq/ft of office space. New addition, roof, siding, and wiring done within the past year. Currently leased.

LAND AREA: 50’ X 130’
ZONING: Commercial/Residential
REAL ESTATE TAXES, 2006: Triplex $1844; commercial building,  $272
HEATING: High efficiency forced air, propane.
AIR CONDITIONING: None in apartments; wall unit in commercial building.
RENTAL INCOME: $ 575 upper level apartment, $620 first-floor rear apartment, and $525 first-floor front apartment. Rents include cable, heat, water, and electricity. $320 + all utilities for commercial building.

GROSS INCOME: $24,480 annually 

PRICE:  $205,000 for both buildings; $165,000 for Tri-plex only.   TERMS:  Cash

COMMENTS:  This is a very attractive small office + apartment building with easy access to nearby businesses and upgrades in most areas.  Newer concrete off-street four car parking lot for apartments.  Must see!