For Sale: Prior Lake MLS# 6622443
Active
$750,000
Multi-family: Apartments
Built 1978
4,160 sqft • 0.42 acres
Prior Lake-Savage Area Sch schools
MLS# 6622443
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Property Description
Impeccably maintained 4-plex! Seller prefers to sell with twin building at 16558 Franklin Trail, offering a unique opportunity to acquire two well-kept investment properties as a package. Each building has three 3-bedroom units, one 2-bedroom unit, and a paved parking lot with five garage stalls, assigned spaces, and guest parking. Recent updates include half the units with updated kitchens and baths, fresh exterior paint, stained decks, and sealed/numbered driveways. Added perks: coin-op laundry, two decks, two patios, and a 2012 roof replacement. Long-term tenants and below-market rents (see supplement) present strong upside potential. Donâ??t miss this chance for a high-quality, low-maintenance investment!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$750,000
Price per sq ft:
$180
Property Type:
Multi-family
City:
Prior Lake
Garage Spaces:
5
County:
Scott
Year Built:
1978
State:
MN
Property Style:
Apartments
Zip Code:
55372
Subdivision Name:
Bluff Hts
Interior
Finished Area:
4,160 ft2
Living Area:
4,160 ft2
Ranges:
Four
Refrigerators:
Four
Basement Details:
- Daylight/Lookout Windows
- Drain Tiled
- Sump Pump
Exterior
Stories:
One
Garage Spaces:
5
Garage Size:
1,440 ft2
Foundation Size:
2,080 ft2
Fencing:
Chain Link, Partial
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
- Asphalt
- Assigned
- Detached
- Garage Door Opener
- No Int Access to Dwelling
- Shared Driveway
Shared Amenities:
Coin-op Laundry Owned
Road Frontage:
- City Street
- Curbs
- Paved Streets
Exterior Material:
Fiber Cement
Roof Details:
- Age Over 8 Years
- Asphalt
Rooms
Shared Rooms:
Other
Lot & Land
Acres:
0.42
Geolocation:
44.70939612, -93.4213393646
Lot Dimensions:
181 x 104 x 188 x 116
Zoning:
Residential-Multi-Family
Lot Description:
Corner Lot
Schools
School District:
719
District Phone:
952-226-0000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$626
Annual Fuel Expense:
$353
Annual Insurance Expense:
$3,306
Annual Maintenance Expense:
$3,641
Annual Gross Expense:
$24,113
Annual Trash Expense:
$1,533
Annual Water/Sewer Expense:
$3,138
Tenant Expenses:
Electricity, Fuel
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$6,928
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$6,928
Income
Annual Gross Income:
$61,140
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
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This amortization schedule shows how much of your monthly payment will go towards the principle and how
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| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
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 RE/MAX Advantage Plus.
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.