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4011 4th St

Lake Park, MN 56554
  • $899,000
  • STATUS: Active
  • ON SITE: 126 Days
  • ID#: 6467604
$899,000
  • 0
    BEDS
  • 0.52
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 11,928
    SQFT
  • $75
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1968
County:

School Ratings & Info

NorthstarMLS] logo Listing courtesy of The Real Estate Company of Detroit Lakes.

Description

What a great investment opportunity in the City of Lake Park! Welcome to Park Terrance Apartments, a 12-plex building located between Detroit Lakes, MN and Fargo, ND. Featuring 11-2bed/1bath units, 1-1bed/1 bath unit, 6 garage stalls and parking lot, shared/coin-op laundry in the lower level, common interior hallways, and more. Each 2nd and 3rd floor unit has a balcony, and two of the lower-level units have a walk-out patio. Over half of the units have been updated (2 current vacancies under construction). The roof was replaced about 10 years ago. New common water heater (5 years old). Laundry updates underway. Plenty of Upside with current market rates, garage stall income, and coin-op laundry. Book your showing today! 48 hr notice required.

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IDX data © 2024 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Serdar + Partners | Lakes Sotheby's International Realty are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Serdar + Partners | Lakes Sotheby's International Realty is not a Multiple Listing Service, nor does it offer MLS access. This website is a service of Serdar + Partners | Lakes Sotheby's International Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. Information deemed reliable but not guaranteed. By viewing the listings on this site, you are agreeing to abide by the RMLS End-User License Agreement. Data last updated 2024-04-19T11:39:47.16.

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4011 4th St Lake Park, MN 56554

  • Price: $899,000
  • Status: Active
  • On Site: 126 Days
  • ID#: 6467604
0
Beds
0
Baths
0
½ Baths
0.52
Acres
11,928
SQFT
$75
$/SQFT
1968
Built
Neighborhood:
Canfields 1st Add
County:
Becker
School District:
2889 - Lake Park-Audubon Schools
Property Description
What a great investment opportunity in the City of Lake Park! Welcome to Park Terrance Apartments, a 12-plex building located between Detroit Lakes, MN and Fargo, ND. Featuring 11-2bed/1bath units, 1-1bed/1 bath unit, 6 garage stalls and parking lot, shared/coin-op laundry in the lower level, common interior hallways, and more. Each 2nd and 3rd floor unit has a balcony, and two of the lower-level units have a walk-out patio. Over half of the units have been updated (2 current vacancies under construction). The roof was replaced about 10 years ago. New common water heater (5 years old). Laundry updates underway. Plenty of Upside with current market rates, garage stall income, and coin-op laundry. Book your showing today! 48 hr notice required.
Exterior Features

Construction Materials Brick/Stone Foundation Area 3976 Garage Dimensions 22x63 Garage Square Feet 1386 Levels Two Lot Size Dimensions 150x150 Parking Features DetachedGuest ParkingParking LotPaved Parking Open 16 Roof Age Over 8 YearsFlatRubber

Interior Features

Cooling Wall Unit(s) Heating Baseboard Shared Rooms Other

Property Features

Accessibility Features None Additional Parcels YN No Assessment Pending No Association Amenities Coin-op Laundry Owned Contingency None Current Use Residential Electric Expense 2259.18 Expenses 32614.6800 Foreclosure Status No Fractional Ownership YN No Fuel ElectricNatural Gas Fuel Expense 0 Gross Income 111600 Inclusions BuildingFixture/EquipmentLeases Insurance Expense 6000 Land Lease YN No Lender Owned No Maintenance Expense 1443.5 Manager Expense 1000 Net Operating Income 78985.32 Operating Expense 32614.68 Postal City Lake Park Potential Short Sale No Property Sub Type Apartment Rental License YN No Sewer City Sewer/Connected Tax Annual Amount 6302 Tax With Assessments 6302.0000 Tax Year 2023 Tenant Pays Cable TVElectricity Trash Expense 2400 Utilities Electric SeparateHot Water Common Water Sewer Expense 11000 Water Source City Water/Connected Zoning Description Business/CommercialResidential-Multi-Family

NorthstarMLS] logo © 2024 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.
Listing courtesy of The Real Estate Company of Detroit Lakes: . This home sale information is not an appraisal, competitive or comparative market analysis, CMA or home valuation. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.


IDX data © 2024 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Serdar + Partners | Lakes Sotheby's International Realty are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Serdar + Partners | Lakes Sotheby's International Realty is not a Multiple Listing Service, nor does it offer MLS access. This website is a service of Serdar + Partners | Lakes Sotheby's International Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. Information deemed reliable but not guaranteed. By viewing the listings on this site, you are agreeing to abide by the RMLS End-User License Agreement. Data last updated 2024-04-19T11:39:47.16.

Click here for Digital Millennium Copyright Act
 
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Serdar + Partners | Lakes Sotheby's International Realty
2434 Commerce Boulevard
Mound MN, 55364
NorthstarMLS] logo Listing courtesy of The Real Estate Company of Detroit Lakes.