Property Description
Investment opportunity in Effie! This well-maintained six-unit apartment complex sits on .51 acres along Hwy 1 and offers a strong, established rental history. Currently fully occupied, the property has several long-term tenants with all units on month-to-month leases. Apartments are nicely updated and well cared for, with the efficiency unit typically seeing the most turnover. Property features include a new shingled roof, flat roofs replaced approximately two years ago, shared coin-operated laundry, patio area, raised garden beds, and ample parking with designated spaces and electrical plug-ins. Utilities are included in the rent, while tenants are responsible for their own TV and internet. With a history of excellent occupancy and consistent tenant demand, this is an attractive income-producing asset for investors. Financial information available upon request to pre-qualified buyers.
Property Features
Property Type: Commercial - Business
Basement: Yes
Cooling: Central Air
Fuel Type: Electric, Propane
Heating: Baseboard, Forced Air
Lot Size: 0.51 Acres
Roof Type: Architectural Shingle, Flat, Metal
Stories: 2.0
Taxes: $1,399
Year Built: 1962
Feature Descriptions
Appliances: Range, Refrigerator
Basement: Finished
Current Use: Residential
Days on Site: 54
Exterior: Brick, Frame
Foundation Size: 2256
Lot Dimensions: .51 acres
Owners Expense: See Remarks
Parcel#: 904100050
Parking: Parking Lot
Sale Includes: Building, Business, Fixture/Equipment, Land, Leases
Sewer: City Sewer/Connected
Shared Rooms: Other
Tenant Expenses: Broadband, Cable TV, Insurance, Telephone
Units: 6
Utilities: Electric Common, Heating Common, Hot Water Common
Water: Drilled
Local Schools
School District: Grand Rapids
Listed By / Shown By
Listed By
Agency Name: COLDWELL BANKER NORTHWOODS
Agency Phone: 218-326-3455
Shown By
Agent Name: Your Realtor Blake
Agent Phone: Cell: (612) 503-4981
Agency Title: Counselor Realty
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200 NE Hwy 1 | MLS# 7141188
This commercial property located at 200 NE Hwy 1, Effie, MN 56639 is currently listed for sale with an asking price of $225,900. NE Hwy 1 is located within the Grand Rapids school district. Search Effie real estate on bwallace.counselorrealty.com today.