For Sale: Pipestone MLS# 6749449
Active
NEW!
$310,000
Condo/Townhome: Low Rise (3- Levels)
Built 1928
0.09 acres
Pipestone Area schools
MLS# 6749449
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Property Description
Commercial mixed-use investment opportunity in Pipestone. Own one of the historic buildings of downtown Pipestone. Mixed use building with 12 apartments (most are occupied and rents range from $300 to $500 per month). In addition to the rental units, there are 4 commercial units that are currently vacant. You can rent them out and immediately increase your cash flow! All units metered separately. Coin operated laundry on site for additional income. Newer boiler and brand new hot water heater. Rubber roof installed about 10 years ago. Solid foundation and a sturdy building that just needs some TLC.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$310,000
Property Type:
Condo/Townhome
City:
Pipestone
Garage Spaces:
0
County:
Pipestone
Year Built:
1928
State:
MN
Property Style:
Low Rise (3- Levels)
Zip Code:
56164
Subdivision Name:
Nichols Add
Interior
Appliances Included:
- Range
- Refrigerator
Basement Details:
Concrete
Exterior
Stories:
Three Or More
Garage Spaces:
0
Other Parking Spaces:
0
Air Conditioning:
Window Unit(s)
Foundation Size:
3,900 ft2
Foundation Dimensions:
26x150
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
On-Street Parking Only
Unit Amenities:
- Hardwood Floors
- Natural Woodwork
Exterior Material:
Brick/Stone
Roof Details:
- Age Over 8 Years
- Rubber
Lot & Land
Acres:
0.09
Geolocation:
44.000179, -96.316926
Inclusions:
Building
Lot Dimensions:
27 x 150
Zoning:
- Business/Commercial
- Residential-Multi-Family
Lot Description:
Corner Lot
Schools
School District:
2689
District Phone:
507-825-5861
Expenses
Annual Electric Expense:
$978
Annual Fuel Expense:
$11,393
Annual Insurance Expense:
$4,000
Annual Maintenance Expense:
$660
Annual Gross Expense:
$32,758
Annual Water/Sewer Expense:
$16,386
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$3,980
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$3,980
Income
Annual Gross Income:
$43,000
Rent
Annual Net Income:
$10,242
Units
Total Units:
12
Miscellaneous
Current Use:
- Commercial
- Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Hot Water Common
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Edina Realty, Inc..
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.