110 3rd Avenue N Biwabik, MN - Image 1110 3rd Avenue N Biwabik, MN - Image 2110 3rd Avenue N Biwabik, MN - Image 3110 3rd Avenue N Biwabik, MN - Image 4110 3rd Avenue N Biwabik, MN - Image 5110 3rd Avenue N Biwabik, MN - Image 6110 3rd Avenue N Biwabik, MN - Image 7110 3rd Avenue N Biwabik, MN - Image 8110 3rd Avenue N Biwabik, MN - Image 9110 3rd Avenue N Biwabik, MN - Image 10110 3rd Avenue N Biwabik, MN - Image 11110 3rd Avenue N Biwabik, MN - Image 12110 3rd Avenue N Biwabik, MN - Image 13110 3rd Avenue N Biwabik, MN - Image 14110 3rd Avenue N Biwabik, MN - Image 15110 3rd Avenue N Biwabik, MN - Image 16110 3rd Avenue N Biwabik, MN - Image 17110 3rd Avenue N Biwabik, MN - Image 18110 3rd Avenue N Biwabik, MN - Image 19110 3rd Avenue N Biwabik, MN - Image 20110 3rd Avenue N Biwabik, MN - Image 21110 3rd Avenue N Biwabik, MN - Image 22110 3rd Avenue N Biwabik, MN - Image 23110 3rd Avenue N Biwabik, MN - Image 24110 3rd Avenue N Biwabik, MN - Image 25110 3rd Avenue N Biwabik, MN - Image 26110 3rd Avenue N Biwabik, MN - Image 27

$160,000

5 Beds 4 Baths 2,200 SQFT 0.14 Acres
Type: Multi-Family

110 3rd Avenue N
Biwabik, MN 55708

MLS#: 7143364
Najmo Ismail
Najmo Ismail
The Real Estate Advantage
Realtor
Office: 952.470.7600
Presented by: GRAND PROPERTIES REAL ESTATE

Property Description

 

Whether you want to increase your portfolio or have a live-in house hack. This property is perfect for your next cash-flowing investment. Currently used as a long-term rental but can be used as a short-term rental, this four-unit property has a mix of 2 two-bedrooms (both leased currently $1000 and $900/month), a one-bedroom ($835/month vacant), and one efficiency apartments ($750/month vacant). Current tenants are on month-to-month or soon-to-be-expiring leases. Three new water heaters in the last three years. The furnace has also been updated to natural gas. The electrical service has been updated to all breakers and potential laundry room wiring has been run already. Metal roof and blown-in insulation in the attic make this fairly easy to heat. All the utilities and heat are included in the tenants' rent.


 

Interior Features

Bedrooms

Total Bedrooms5

Bathrooms

Total Baths4

Other Interior Features

Above Grade Finished Area2,200 sqft
BasementFull
Basement (Y/N)Yes
Below Grade Finished Area0 sqft
Foundation Dimensions22x50
FuelElectric, Natural Gas

General

AccessibilityNone
Additional Parcels Y/NNo
CityBiwabik
Construction MaterialsPost and Beam
ContingencyNone
CountySt. Louis
DirectionsFrom highway 135 turn north on 3rd Ave - do not park in front of the fire department or directly in front of the building. The spaces are reserved for emergency parking for the fire department.
Electric100 Amp Service
Electric Expense7610
Fuel Expense1585
Garage Spaces0
Gross Income39548
HeatingForced Air, Space Heater
High School DistrictMesabi East
Insurance Expense1350
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Living Area2,200 sqft
Lot Size UnitsAcres
MaintenanceExpense2048
Net Operating Income22592
New ConstructionNo
Number Of Units Total4
Operating Expense16956
OwnerPaysAll Utilities
PostalCityBiwabik
Property SubtypeFourplex
Property TypeResidential Income
RoofMetal
SewerCity Sewer/Connected
Standard StatusActive
Subdivision NameBiwabik
Tax Annual Amount$3,148
Tax Year2026
Tenant PaysSnow Removal
Trash Expense0
Water Sewer Expense0
Year Built1920
Zoning DescriptionResidential-Multi-Family

Exterior

Building Area Total3,300 sqft
Foundation Area1,100 sqft
Lot Dimensions50x125
Lot Size Area0 sqft
Road Frontage TypeCity Street
Road ResponsibilityPublic Maintained Road
Water SourceCity Water/Connected
Waterfront Y/NNo

Additional Details

Price History

Schools 

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

  

Similar Properties

$160,000

5 Beds 4 Baths 2,200 SQFT 0.14 Acres
Type: Multi-Family

110 3rd Avenue N
Biwabik, MN 55708

MLS#: 7143364
Najmo Ismail
Najmo Ismail
The Real Estate Advantage
Realtor
Office: 952.470.7600