For Sale: Pelican Rapids MLS# 6704802
Active
$415,000
Commercial: Apartments
Built 1900
0.08 acres
Pelican Rapids schools
MLS# 6704802
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Property Description
In the heart of Pelican Rapids sits this 5-unit Apartment Building, a great Investment opportunity! 3_two bed/one bath units and 2 one bed/one bath units. This is a well maintained property
Each unit has its own laundry and garage.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$415,000
Property Type:
Commercial
City:
Pelican Rapids
Garage Spaces:
5
County:
Otter Tail
Year Built:
1900
State:
MN
Property Style:
Apartments
Zip Code:
56572
Subdivision Name:
Frazees 1st Add
Interior
Ceiling Height:
8-10
Ranges:
Five
Refrigerators:
Five
Appliances Included:
- Dryer
- Range
- Refrigerator
- Washer
Basement Details:
- Owner Access
- Partial
Exterior
Stories:
Two
Garage Spaces:
5
Other Parking Spaces:
2
Air Conditioning:
Window Unit(s)
Foundation Size:
2,684 ft2
Foundation Dimensions:
22x122
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
- No Int Access to Dwelling
- Tuckunder Garage
Shared Amenities:
None
Road Frontage:
- City Street
- Highway
- Paved Streets
- Sidewalks
- Storm Sewer
- Street Lights
Exterior Material:
- Brick/Stone
- Vinyl Siding
Roof Details:
- Composition
- Metal
Lot & Land
Acres:
0.08
Geolocation:
46.56786, -96.083137
Inclusions:
Building, Fixture/Equipment, Leases
Lot Dimensions:
25 x 134
Zoning:
Business/Commercial
Farm
Topography:
Level
Schools
School District:
548
District Phone:
218-863-5910
Expenses
Annual Caretaker Expense:
$2,640
Annual Insurance Expense:
$1,800
Annual Maintenance Expense:
$2,640
Annual Gross Expense:
$17,110
Annual Trash Expense:
$900
Tenant Expenses:
Cable TV, Electricity, Gas
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$3,592
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$3,592
Income
Annual Gross Income:
$53,400
Rent
Annual Net Income:
$36,290
Units
Total Units:
5
Miscellaneous
Current Use:
Other
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
Water System:
City Water/Connected
Mortgage Calculator
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Listing provided by RMLS,
courtesy of Counselor Realty Detroit Lakes.
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.