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For Sale:  Elk River MLS# 7033511

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Active NEW!
$2,650,000
/mo Edit
Multi-family:  1 Story
8 br • 8 ba • Built 2020
1,442 sqft • 1.78 acres
MLS# 7033511
763-576-8286
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    Property Description

    55+ 1-Level rental community built in 2020. Hard to find investment opportunity. Community consists of 4 twin homes (8 units). Each unit has a separate PID to provide for residential v.s commercial property tax rate and ease of forming association if owner wanted to sell units individually. Units boast a great floorplan and are well appointed. Very stable and loyal tenant base that have been taking great care of their respective units. Conveniently located on a quiet cul-de-sac and close to local shopping and the Hwy 101/169 corridor.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $2,650,000
    Price per sq ft: $1,838
    Property Type: Multi-family
    City: Elk River
    Garage Spaces: 2
    County: Sherburne
    Year Built: 2020
    State: MN
    Property Style: 1 Story
    Zip Code: 55330
    Subdivision Name: Mulvaney Point Twin Homes

    Interior

    Bedrooms: 8
    Bathrooms: 8
    Finished Area: 1,442 ft2
    Living Area: 1,442 ft2
    Refrigerators: One Per Unit
    Basement Details: None

    Exterior

    Stories: One
    Garage Spaces: 2
    Garage Size: 450 ft2
    Garage Door Height: 7
    Garage Door Width: 16
    Foundation Size: 1,442 ft2
    Handicap Accessible: No Stairs External, No Stairs Internal
    Road Responsibility: Public Maintained Road
    Heating System: Forced Air
    Parking Features:
    • Attached Garage
    • Parking Lot
    • Paved Lot
    Shared Amenities: In-Ground Sprinkler System
    Road Frontage:
    • City Street
    • Cul De Sac
    • Paved Streets
    Exterior Material: Frame
    Roof Details:
    • Asphalt
    • Pitched

    Rooms

    Laundry:
    • In Unit
    • Main Level

    Lot & Land

    Acres: 1.78
    Geolocation: 45.302443, -93.548706
    Lot Dimensions: 211 x 302 x 391 x 339
    Addl Parcels: 75009040110, 75009040115, 75009040120, 75009040125, 75009040130, 75009040135, 75009040140, 75009040145
    Zoning: Residential-Single Family
    Lot Description: Tree Coverage - Medium

    Schools

    School District: 2241
    District Phone: 7632413400

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: $9,530
    Annual Maintenance Expense: $7,000
    Annual Trash Expense: None
    Annual Water/Sewer Expense: $1,500
    Tenant Expenses: All Utilities

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $30,528
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $30,528

    Income

    Annual Gross Income: $210,720

    Rent

    Annual Net Income: $157,720

    Units

    Total Units: 4

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

    Mortgage Calculator

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    Payment:  /mo

    Local Home Mortgage Professionals

    Eric Bloomstrand
    Branch Sales Manager
    Fairway Home Mortgage    NMLS#274211
    612-961-2600
    Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
    Connect with Eric today to get started with your home purchase!

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    Listing provided by RMLS, courtesy of Acuity Group.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.