FOR SALE 8 UNIT INCOME PROPERTY  Including Restaurant Operation PRICE REDUCED! OWNER FINANCING!!

     

NAME:  Parkview Estates and Parkside Depot Family Restaurant

FEATURES: Formerly the Basinger Hotel Hospital, this was remodeled into a restaurant on the main level and 8 luxury apartments above – two 1 bedroom, five 2 bedroom and one 4 bedroom apartments. Each unit has its own central heating and cooling system. Includes an elevator to service the apartments, newer windows, a 2nd floor deck and a ground level grassy area with a fish pond. All brick and very well maintained. Poor health of owner prompts this sale. 

LOCATION:  306 10th St N, Mountain Lake, MN.

RESTAURANT SPACE:  98’ X 40’ - 3,920 Sq Ft  

HVAC: Restaurant has gas hot water and central AC

PARKING: Street parking. 9 individual garages in back for car or storage plus work shop area

RENTS: $630 - $800/month ($66,000 2008 annual income on 7 units)

RESTAURANT GROSS INCOME: $180,000 (2008)

REAL ESTATE TAXES: $5,316 (2009)

REDUCED PRICE:  $320,000 Includes Luxury Apartments and Main Level Restaurant

The building and restaurant are owned by the same owner who currently lives in the large 4 bedroom unit above. Currently there are no vacancies and most tenants are long term. The Parkside Depot restaurant has a 25 year history of serving good food by the same owner. Not only do they have a reputation of good food, it has given customers an opportunity to see & hear the sounds of railroad memorabilia while enjoying breakfast, lunch or dinner. Own your own restaurant, live onsite and make payments with the rental income! 

See also www.cbcorion.com/parkside.html

 CALL WELDON HENDRICKSON FOR A PERSONAL SHOWING

(763) 689-5460 or (612) 719-9217

 or via Email - click on the link