For more information on this property, contact Pat Doherty at 763-219-2553 or info@totalREsuccess.com

523 NW 7th Avenue
Grand Rapids, Minnesota MN 55744
Price: $399,900
Listing ID 6130442
Status Active
SqFt 3,720
Acres 0.410
Subdivision Grand Rapids Second Div
Year Built 1950

Property Description:

Great potential in this 8 unit multifamily apartment building. 17,800 total square feet. Great GR location close to parks, shopping and amentities. With some sweat equity and vision this can be a tremendous investment opportunity. 2 units are finished and have been rented for years at $2,100 per month. Set up for 8 units. Remaining 6 units will need to built and finished, please view supplement info for renderings on potential layouts. Much of the infrastructure has been completed water/sewer/electric is set up in the building. Zoned LB so some possible commercial applications also.

Primary Features

County: Itasca
Property Sub Type: Apartment
Property Type: Residential Income
Subdivision: Grand Rapids Second Div
Year Built: 1950

Interior

Above Grade Finished Area: 3720
Above Ground SqFt: 12112.00
Basement: Block, Concrete, Partially Finished, Unfinished
Below Ground SqFt: 6056.00
Heating: Baseboard
Levels: One and One Half
Main Floor SqFt: 6056.00
Number Of Units Total: 2
Total SqFt: 18168.00
Unit 1 Bath 3 Quarter: 1
Unit 1 Bath Half: 1
Unit 1 Baths Total: 2
Unit 1 Beds: 3
Unit 1 Rooms Total: 4
Unit 1 SqFt: 1200
Unit 2 Bath Full: 1
Unit 2 Bath Half: 1
Unit 2 Baths Total: 2
Unit 2 Beds: 3
Unit 2 Rooms Total: 4
Unit 2 SqFt: 1200
Unit Type: Unit 1, Unit 2, Unit 3, Unit 4

External

Construction Materials: Brick/Stone
Electric: 200+ Amp Service
Foundation Area: 6056
Fuel: Electric
Lot Features: Corner Lot
Lot Size Dimensions: 10725
Lot Size Units: Acres
Parking Features: Paved, On-Street Parking Only
Road Frontage Type: Street Lights, Storm Sewer, City Street
Roof: Asphalt
Sewer: City Sewer/Connected
Unit 1 Number Of Units: 1
Unit 2 Number Of Units: 1
Water Source: City Water/Connected, City Water - In Street

Location

High School District: Grand Rapids
Postal City: Grand Rapids
Public Survey Range: 25
Public Survey Section: 20
Public Survey Township: 55
School District Number: 318
Zoning Description: Residential-Multi-Family,Other

Additional

Accessibility Features: Doors 36"+
Down Payment Resource: Y
Rental License: no
Yearly/Seasonal: Yearly

Financial

Assessment Pending: No
Contingency: None
Gross Income: 25200
Tax Annual Amount: 5370
Tax With Assessments: 5856.00
Tax Year: 2021
Tenant Pays: Electricity, Water
Unit 1 Annual Rent: 14400
Unit 1 Monthly Rent: 1200.00
Unit 2 Annual Rent: 13200
Unit 2 Monthly Rent: 1100.00

Zoning Info


Area Info


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Contact - Listing ID 6130442

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Pat Doherty

1076 West County Rd B, Suite 103
Roseville, MN 55113
United States
Phone: 763-219-2553

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