For Sale: Thief River Falls MLS# 6624414
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Property Description
INVESTORS - THIS IS A GREAT OPPORTUNITY TO JUMP INTO THE RENTAL MARKET! This sale includes 29 manufactured home units on leased land within the city of Thief River Falls. The current owners have held these properties for 10 years and all units have (typically) been occupied on a full-time basis. The units include 2 and 3-bedroom homes with 1-2 baths. All units are sold "as is". Each unit has outdoor/open parking space for 2 vehicles and the park is overseen by the park manager. All potential occupants must fill out a resident application with the park manager, and pass background & credit checks. All exterior photos are in the supplements section.
*** Please schedule appointments several days in advance to allow us to prepare the homes' occupants.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$625,000
Property Type:
Commercial
City:
Thief River Falls
Garage Spaces:
0
County:
Pennington
Year Built:
1982
State:
MN
Property Style:
1 Story
Zip Code:
56701
Subdivision Name:
Countryside Ct
Interior
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Exterior
Stories:
One
Garage Spaces:
0
Other Parking Spaces:
2
Foundation Size:
980 ft2
Foundation Dimensions:
14x70
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
Open
Road Frontage:
- City Street
- Paved Streets
Exterior Material:
- Aluminum Siding
- Metal Siding
- Vinyl Siding
Roof Details:
- Asphalt
- Metal
Lot & Land
Geolocation:
48.1148164558, -96.200750355
Inclusions:
Building
Lot Dimensions:
40 x 100
Zoning:
Business/Commercial
Farm
Topography:
Level
Schools
School District:
564
District Phone:
218-681-8711
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$8,227
Annual Maintenance Expense:
$1,500
Annual Gross Expense:
$71,185
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Tenant Expenses:
All Utilities, Cable TV, Grounds Care, Sewer, Snow Removal, Trash Collection
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$164
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$164
Land Lease Amount:
4985
Income
Annual Gross Income:
$242,880
Rent
Annual Net Income:
$168,695
Units
Total Units:
29
Miscellaneous
Current Use:
Other
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
Electric Separate
Water System:
City Water/Connected
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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 Nordin 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.