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$225,900

8 Beds 6 Baths 4,492 SQFT 0.51 Acres
Type: Commercial

200 NE Hwy 1
Effie, MN 56639

MLS#: 7141188
Steve Weinzierl
Steve Weinzierl
The Real Estate Advantage
Phone: 612.387.3807
Office: 952.253.5600
Presented by: COLDWELL BANKER NORTHWOODS

Property Description

 

Investment opportunity in Effie! This well-maintained six-unit apartment complex sits on .51 acres along Hwy 1 and offers a strong, established rental history. Currently fully occupied, the property has several long-term tenants with all units on month-to-month leases. Apartments are nicely updated and well cared for, with the efficiency unit typically seeing the most turnover. Property features include a new shingled roof, flat roofs replaced approximately two years ago, shared coin-operated laundry, patio area, raised garden beds, and ample parking with designated spaces and electrical plug-ins. Utilities are included in the rent, while tenants are responsible for their own TV and internet. With a history of excellent occupancy and consistent tenant demand, this is an attractive income-producing asset for investors. Financial information available upon request to pre-qualified buyers.


 

Interior Features

Bedrooms

Total Bedrooms8

Bathrooms

Total Baths6

Other Interior Features

BasementFinished
Basement (Y/N)Yes
FuelElectric, Propane

General

AccessibilityNone
Additional Parcels Y/NNo
AppliancesRange, Refrigerator
CityEffie
Construction MaterialsBrick, Frame
ContingencyNone
CoolingCentral Air
CountyItasca
Current UseResidential
DirectionsHwy 38 N to Effie. Right on State Hwy 1 to property on Left.
Electric Expense0
Fuel Expense0
Garage Spaces0
Gross Income0
HeatingBaseboard, Forced Air
High School DistrictGrand Rapids
Insurance Expense0
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Lot Size UnitsAcres
MaintenanceExpense0
Net Operating Income0
New ConstructionNo
Number Of Units Total6
Operating Expense0
OwnerPaysSee Remarks
PostalCityEffie
Property TypeCommercial Sale
RoofArchitectural Shingle, Flat, Metal
SewerCity Sewer/Connected
Standard StatusActive
Tax Annual Amount$1,399
Tax Year2026
Tenant PaysBroadband, Cable TV, Insurance, Telephone
Trash Expense0
UtilitiesElectric Common, Heating Common, Hot Water Common
Water Sewer Expense0
Year Built1962
Zoning DescriptionResidential-Multi-Family

Exterior

Building Area Total4,492 sqft
Foundation Area2,256 sqft
InclusionsBuilding, Business, Fixture/Equipment, Land, Leases
Lot Dimensions.51 acres
Lot Size Area0 sqft
Parking FeaturesParking Lot
Water SourceDrilled
Waterfront Y/NNo

Additional Details

Price History

Schools 

Elementary School N/A
Middle School N/A
High School N/A

  

Similar Properties

$225,900

8 Beds 6 Baths 4,492 SQFT 0.51 Acres
Type: Commercial

200 NE Hwy 1
Effie, MN 56639

MLS#: 7141188
Steve Weinzierl
Steve Weinzierl
The Real Estate Advantage
Phone: 612.387.3807
Office: 952.253.5600