For Sale: Mountain Lake MLS# 6639864
Active
$960,000
Commercial: Apartments
Built 1986
1.5 acres
Mountain Lake schools
MLS# 6639864
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Property Description
Value Add apartment complex in Mountain Lake, MN. There are two buildings. Each building has eleven two bedrooms and one, one bedroom. Each apartment includes a large walk-in closet. Both buildings have coin operated laundry. The Mountain Lake Apartments offer high occupancy with room for improvement on the current rents.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$960,000
Property Type:
Commercial
City:
Mountain Lake
Garage Spaces:
0
County:
Cottonwood
Year Built:
1986
State:
MN
Property Style:
Apartments
Zip Code:
56159
Subdivision Name:
Janzens Sub 2
Interior
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
Sump Pump
Exterior
Garage Spaces:
0
Other Parking Spaces:
28
Air Conditioning:
Wall Unit(s)
Foundation Size:
14,282 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Baseboard
Parking Features:
- Asphalt
- Parking Lot
- Unassigned
Shared Amenities:
Coin-op Laundry Owned
Unit Amenities:
Primary Bedroom Walk-In Closet
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Storm Sewer
Exterior Material:
- Brick/Stone
- Fiber Board
Lot & Land
Acres:
1.5
Geolocation:
43.938286, -94.938711
Inclusions:
Building, Leases
Lot Dimensions:
1 x 1
Zoning:
Residential-Multi-Family
Lot Description:
Corner Lot
Farm
Topography:
Level
Schools
School District:
173
District Phone:
507-427-2325
Expenses
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2023
Annual Taxes:
$17,482
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$17,482
Rent
Annual Net Income:
$79,968
Units
Total Units:
24
Miscellaneous
Current Use:
Residential
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- 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 RE/MAX Results.
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.