401 1st Avenue SE, Pelican Rapids, MN 56572

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Year Built: 1959
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Main Floor Total SqFt: 2048
Above Ground SqFt: 2048
Below Grd Total SqFt: 2048
Total SqFt: 4096
Foundation Size: 2048
Style: (MF) Triplex
Total Finished Sqft: 3280.00
Garage Stalls: 2
Lot Dimensions: 105x120
Acres: 0.28

Property Features

Accessible: Wheelchair Ramp Assumable Loan: Not Assumable Basement: Slab; Walk-Out Access Construction Materials: Frame Construction Status: Previously Owned Exterior: Wood Financing Terms: Conventional Fuel: Electric; Natural Gas Heating: Baseboard; Forced Air Laundry: Common Area; In Basement; Laundry Room; Lower Level Lock Box Type: None Lot Description: Corner Lot; Tree Coverage - Medium Owner Pays: Insurance; Lawn; Taxes Parking Characteristics: Shared Garage/Stall; Asphalt; Attached; Tuckunder Garage Rental License Type: Standard Road Frontage: City Street; Curbs; Paved Streets; Storm Sewer; Street Lights Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Asphalt Shingles Sellers Terms: Cash; Conventional Sewer: City Sewer/Connected Shared Rooms: Other Stories: One Tenant Pays: All Utilities; Snow Removal; Trash Collection; Water Topography: Sloped Unit 1 Amenities: Built-In Bookcases; Custom Cabinetry; Open Floor Plan; Deck; Kitchen Window Unit 1 Appliances: Dishwasher; Range; Refrigerator Unit 1 Bath Description: Main Floor Full Bath Unit 1 Cooling: Central Unit 1 Dining Room Description: Informal Dining Room Unit 1 Family Room Characteristics: Main Level Unit 1 Fireplace Char: Insert; Gas Burning Unit 2 Amenities: Deck Unit 2 Appliances: Range; Refrigerator Unit 2 Bath Description: Main Floor Full Bath Unit 2 Cooling: Central Unit 2 Dining Room Description: Living/Dining Room Unit 3 Amenities: Patio Unit 3 Appliances: Range; Refrigerator Unit 3 Bath Description: Full Basement Unit 3 Cooling: Central Unit 3 Dining Room Description: Kitchen/Dining Room Water: City Water/Connected

Contract Information

Off Market Date: 2023-06-20
Contingency: None
Closed Date: 2023-07-14
Original List Price: 217500
ListPrice: 217500
Sales Close Price: 212500
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 401
Street Name: 1st
Street Suffix: Avenue
Street Direction Suffix: SE
Postal City: Pelican Rapids
County: Otter Tail
State: MN
Zip Code: 56572
Complex/Dev/Subdivision: Frazees 4th Add

Assessments

Assessment Balance: 70
Tax With Assessments: 2680

Building Information

Finished SqFt Above Ground: 2048
Finished SqFt Below Ground: 1232

More Information

Income and Expenses

Annual Gross Expenses: 4360
Annual Gross Income: 31800
Annual Insurance Expense: 960
Annual Maintenance Expense: 250
Annual Net Income: 25850
Annual Repair Expense: 250
Total Annual Expenses: 4360

Lease Details

Land Leased: Not Applicable

Lock Box Type

Lock Box Source: LCAR

Miscellaneous Information

DP Resource: Yes
Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Square Feet: 816

Public Survey Info

Range#: 43
Section#: 27
Township#: 136

Unit 1

Furnished?: No
Leased?: Yes
Level: Main Level
Unit Number: Yes
# of Fireplaces: Yes
Annual Rent: 14400
Finished SqFt: 1542
Full Baths: Yes
Monthly Rent: 1200
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 3
Total Rooms: 7

Unit 2

Furnished?: No
Leased?: Yes
Level: Main Level
Unit Number: 2
Annual Rent: 6600
Finished SqFt: 506
Full Baths: Yes
Monthly Rent: 550
No. of Units Like This: Yes
Total Baths: Yes
Total Rooms: 3

Unit 3

Furnished?: No
Leased?: Yes
Level: Below Ground
Unit Number: 3
Annual Rent: 10800
Finished SqFt: 1000
Full Baths: Yes
Monthly Rent: 900
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 6

Unit Details

Total Units: 3

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