For Sale: Ely MLS# 6565305
Active
$330,000
Multi-family: Duplex Side by Side
Built 1910
4,164 sqft • 6250 acres
Ely schools
MLS# 6565305
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Property Description
Situated in the heart of Ely, MN â?? often hailed as one of the "Coolest Small Towns" and a gateway to the BWCA (Boundary Waters Canoe Area) you have an incredible investment opportunity! Perfect for short-term or long-term rentals the existing duplex with updated units is already generating steady income. Each unit has 2 BR/1BA and offers beautifully updated interiors, an attached garage, and laundry facilities. The roof was installed in 2019. Each unit is 748 sq. ft. The main house offers versatile opportunities â?? from creating a unique living space to setting up multiple rental units, Bed & Breakfast, or live in it yourself! It is gutted and ready for your imagination. Its former use was a 4-unit rental. Ely, MN is not just a small town; itâ??s a destination. With its historic charm, strong community, and influx of visitors year-round, investing in Ely means tapping into a market with consistent rental demand.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$330,000
Price per sq ft:
$79
Property Type:
Multi-family
City:
Ely
Garage Spaces:
0
County:
St. Louis
Year Built:
1910
State:
MN
Property Style:
Duplex Side by Side
Zip Code:
55731
Interior
Finished Area:
4,164 ft2
Living Area:
4,164 ft2
Basement Details:
- Full
- Slab
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
390 ft2
Foundation Dimensions:
15 x 26
Handicap Accessible:
None
Heating System:
- Forced Air
- Hot Water
Parking Features:
Detached
Exterior Material:
Stucco
Roof Details:
Asphalt
Lot & Land
Acres:
6250
Geolocation:
47.9017258416, -91.8639925769
Lot Dimensions:
50 x 125
Zoning:
Residential-Multi-Family
Schools
School District:
696
District Phone:
218-365-6166
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$983
Annual Fuel Expense:
$2,500
Annual Insurance Expense:
$3,525
Annual Maintenance Expense:
$821
Annual Gross Expense:
$4,748
Annual Trash Expense:
$2,464
Annual Water/Sewer Expense:
$492
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$4,538
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$4,778
Income
Annual Gross Income:
$20,864
Units
Total Units:
2
Miscellaneous
Fuel System:
Oil
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of z'Up North Realty, Inc..
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.