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Listed by Michael Hoffman Michael Hoffman Realty
$209,900
Est. payment /mo
6 Beds
5 Baths
3,120 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,120 sqft
Price per Sqft $67
MLS Listing ID LSA6127016
Bedrooms 6
HOA Y/N No
Year Built 1965
Annual Tax Amount $3,536
Tax Year 2024
Lot Dimensions 53x121
Property Sub-Type Fourplex
Source lsar
Property Description
Awesome 4-plex on the main drag in Floodwood with freshly painted exterior and basement! Investor opportunity! Fully occupied four-unit apartment building with a strong rental history and excellent income potential. Current scheduled gross rents total $3,700 per month ($44,400 annually). Historical operating expenses indicate an estimated Net Operating Income (NOI) of approximately $33,449 per year, resulting in an estimated 15.9% cap rate at the current asking price. Estimated cash flow analysis and income/expense summary are available upon request. One long-term tenant is currently paying below-market rent, providing additional upside potential for future income growth. Buyer to verify all financial information. The selling entity is owned by two licensed real estate professionals.
Location
State MN
County St. Louis County
Area Lsar
Direction West on Hwy 2, Right on Elm St, property on left corner of W 7th Ave and Elm Street
Rooms
Basement Full
Interior
Heating Forced Air
Exterior
View Y/N No
Roof Type Asphalt Shingle,Rubber
Garage No
Building
Story 2
Foundation Poured Concrete
Sewer Public Sewer
Water City
Structure Type Stucco,Wood
Schools
High Schools Floodwood #698
School District Floodwood #698
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