For Sale: Richfield MLS# 6602808
Active
$1,349,900
Commercial: Apartments
Built 1961
0.28 acres
Richfield schools
MLS# 6602808
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Property Description
PLEASANT AVENUE APARTMENTS IS A VERY CLEAN AND WELL MAINTAINED 11-UNIT LOCATED IN THE HEART OF RICHFIELD, MINNESOTA. THE OWNERSHIP GROUP HAS COMPLETED 10 OF THE 11 UNITS WITH HIGH END KITCHEN REMODELS INCLUDING NEWER CABINETS, COUNTER TOPS, AND ENERGY EFFICIENT STAINLESS STEEL APPLIANCE PACKAGES WITH DISHWASHERS. TWO OF THE APARTMENTS HAVE BUILT-IN MICROWAVES. EXTERIOR UPDATES INCLUDE NEWER WINDOWS, FACIA AND GUTTERS, A NEWER ROOF REPLACED IN 2104, AND SECURED FRONT AND BACK ENTRY DOORS WITH SIDELITES. THE HOT WATER BOILER WAS REPLACED WITH A HIGH EFFICIENCY BOILER IN THE SPRING OF 2024. MANAGED PROFESSIONALLY BY THE OWNER, NO DELINQUENCIES, AND IN TURN-KEY CONDITION!!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,349,900
Property Type:
Commercial
City:
Richfield
Garage Spaces:
0
County:
Hennepin
Year Built:
1961
State:
MN
Property Style:
Apartments
Zip Code:
55423
Subdivision Name:
Rgt Nicollet Homes 2nd Add
Interior
Ceiling Height:
8-10
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Dishwasher
- Range
- Refrigerator
Exterior
Stories:
Three Or More
Garage Spaces:
0
Other Parking Spaces:
11
Air Conditioning:
Wall Unit(s)
Foundation Size:
3,800 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Boiler
Parking Features:
Parking Lot
Shared Amenities:
Security
Unit Amenities:
- Ceiling Fan(s)
- Ethernet Wired
Road Frontage:
City Street
Exterior Material:
- Brick/Stone
- Stucco
Roof Details:
- Age Over 8 Years
- Flat
- Rubber
Lot & Land
Acres:
0.28
Geolocation:
44.88657, -93.28276
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
102 x 120
Zoning:
Residential-Multi-Family
Lot Description:
Tree Coverage - Light
Farm
Topography:
Level
Schools
School District:
280
District Phone:
612-798-6010
Expenses
Annual Electric Expense:
$782
Annual Fuel Expense:
$4,206
Annual Insurance Expense:
$4,618
Annual Gross Expense:
$38,974
Annual Trash Expense:
$3,398
Annual Water/Sewer Expense:
$2,633
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$16,335
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$16,335
Income
Annual Gross Income:
$122,193
Rent
Annual Net Income:
$83,218
Units
Total Units:
11
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
Mortgage Calculator
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Local Home Mortgage Professionals
651-253-2144
Jason & Kim Stone
Branch Manager & Co-Branch Manager
Fairway Mortgage NMLS#1018649
Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
It would be our pleasure to assist you with your home purchase!
Listing provided by RMLS,
courtesy of Apartment Cash Flow, 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.