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For Sale:  Isle MLS# 7033838

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Active NEW!
$320,000
/mo Edit
Multi-family:  2 Stories
6 br • 4 ba • Built 1980
3,400 sqft • 0.42 acres
MLS# 7033838
763-576-8286
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    Property Description

    4-plex in Isle, MN—close to downtown shopping, schools, and highway access—right by Mille Lacs Lake. Solid investment property with lake views in a great location. This quiet building offers on-site laundry and a storage room, along with well-maintained units in good condition and all mechanicals in proper working order. The property features two 2-bedroom units and two 1-bedroom units. Ideally located on Main Street in the heart of town on a corner lot with nearly ½ an acre, and views of Mille Lacs Lake. Father Hennepin State Park is just ½ mile away. A strong investment/rental opportunity in a prime area.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $320,000
    Price per sq ft: $94
    Property Type: Multi-family
    City: Isle
    Garage Spaces: 0
    County: Mille Lacs
    Year Built: 1980
    State: MN
    Property Style: 2 Stories
    Zip Code: 56386

    Interior

    Bedrooms: 6
    Bathrooms: 4
    Finished Area: 3,400 ft2
    Living Area: 3,400 ft2
    Refrigerators: Four
    Basement Details: None

    Exterior

    Stories: Two
    Garage Spaces: 0
    Foundation Size: 1,700 ft2
    Foundation Dimensions: 34x50
    Fencing: None
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System:
    • Baseboard
    • Boiler
    Parking Features:
    • Gravel
    • Parking Lot
    Shared Amenities: Laundry
    Road Frontage:
    • City Street
    • State Road
    Exterior Material:
    • Block
    • Frame
    Pool: None
    Roof Details: Age Over 8 Years

    Rooms

    Shared Rooms: Other
    Laundry: Lower Level

    Lake & Waterfront

    Waterfront View: Bay, North
    Elev Highpt to WF feet: 15-26
    Waterfront: Lake Front

    Lot & Land

    Acres: 0.42
    Geolocation: 46.138347, -93.47376
    Lot Dimensions: .42
    Zoning: Residential-Multi-Family
    Lot Description: Corner Lot

    Farm

    Topography: Level

    Schools

    School District: 1771
    District Phone: 3206763146

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $960
    Annual Fuel Expense: $2,400
    Annual Insurance Expense: $2,011
    Annual Maintenance Expense: None
    Annual Trash Expense: $1,200
    Annual Water/Sewer Expense: $1,800
    Tenant Expenses: Electricity

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $4,042
    Lender-owned: No
    Assessment Pending: Unknown
    Taxes w/ Assessments: $4,042

    Income

    Annual Gross Income: $39,720
    Misc. Annual Income: None
    Misc. Monthly Income: None

    Rent

    Annual Net Income: $30,667

    Units

    Total Units: 4

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected
    Power Company Name: East Central Energy

    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 eXp Realty.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.