, Roseau, MN 56751 (MLS# 6448431)

Overview

Description

Incredible 24 unit apartment building located in the heart of Roseau, MN. This property is walking distance to the hospital, Polaris and other thriving businesses in the community. It's currently being used for a senior assisted living facility and is fully handicap accessible but that business is not included in the sale. There are 24 units with one bed/one bath and full kitchen layouts along with many common amenities. Some of the shared amenities include a community kitchen, movie/media room, patios with raised garden beds, coin-op laundry and more. This building is in immaculate condition and well maintained over the years. With no needed improvements and many value add opportunities this can make for a one of a kind investment property. Call today to schedule a viewing and discuss future opportunities.

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Year Built: 2006
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 16032
For Sale or Lease: For Sale
Acres: 2.31
Lot Dimensions: 400x340
Other Parking Spaces: 0
Garage Stalls: 0

Property Features

Accessible: Fully Wheelchair Air Conditioning: Wall Unit(s) Amenities Shared: Coin-op Laundry Owned; Common Garden; Fire Sprinkler System; Patio; Other CMU Style: Apartments/Multi Family Construction Materials: Frame Construction Status: Previously Owned Current Use: Residential Exterior: Cement Board Flooring: Carpet Fuel: Natural Gas Heating: Boiler; In-Floor Heating On Site Utilities: Heating Common; Heating Separate Owner Pays: All Utilities; Insurance; Janitorial Service; Janitorial Service; Lawn; Lawn; Snow Removal; Taxes; Trash Collection Parking Characteristics: Parking Lot; Paved Lot Roof: Asphalt Shingles Sewer: City Sewer/Connected Stories: One Water: City Water/Connected

Contract Information

Digitally Altered Photos: No
Off Market Date: 2024-05-21
Closed Date: 2024-11-06
Sales Close Price: 1550000
Contingency: None
ListPrice: 1799900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

Postal City: Roseau
County: Roseau
State: MN
Zip Code: 56751
Complex/Dev/Subdivision: Klemas 3rd Add

Assessments

Tax With Assessments: 18512
Assessment Balance: 0

Building Information

Building Finished SqFt: 16032
Building SqFt: 16032

More Information

Income and Expenses

Annual Gross Expenses: 87000
Annual Gross Income: 210000
Annual Insurance Expense: 14000
Annual Net Income: 123000
Total Annual Expenses: 87000

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building, Fixture/Equipment

Unit 1

No. of 1 Bedroom Units: 24

Unit Details

Total Units: 24

Office/Member Info

Association: NWMAR
MLSID: RMLS

Location, Tax and Other Information

Legal Description: LOT 2 & S1/2 LOT 3 BLK 4; KLEMAS 3RD SUBDIVISION
Listing City: Roseau
Map Page: 999
Municipality: Roseau
Rental License?: No
School District: Roseau
School District Phone: 218-463-1471
Zip Plus 4: 1498
Property ID Number: 540291662
Tax Year: 2022
Tax Amount: 17737
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Incredible 24 unit apartment building located in the heart of Roseau, MN. This property is walking distance to the hospital, Polaris and other thriving businesses in the community. It's currently being used for a senior assisted living facility and is fully handicap accessible but that business is not included in the sale. There are 24 units with one bed/one bath and full kitchen layouts along with many common amenities. Some of the shared amenities include a community kitchen, movie/media room, patios with raised garden beds, coin-op laundry and more. This building is in immaculate condition and well maintained over the years. With no needed improvements and many value add opportunities this can make for a one of a kind investment property. Call today to schedule a viewing and discuss future opportunities.
Directions: From Highway 89 south of turn west on 7th st sw and travel for .17 miles.

Accessible

Fully Wheelchair: Yes

Air Conditioning

Wall Unit(s): Yes

Amenities Shared

Coin-op Laundry Owned: Yes
Common Garden: Yes
Fire Sprinkler System: Yes
Patio: Yes
Other: Yes

Construction Materials

Frame: Yes

Construction Status

Previously Owned: Yes

Exterior

Cement Board: Yes

Flooring

Carpet: Yes

Fuel

Natural Gas: Yes

Heating

Boiler: Yes
In-Floor Heating: Yes

Owner Pays

All Utilities: Yes
Insurance: Yes
Janitorial Service: Yes
Lawn: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes

Parking Characteristics

Garage Dimensions: No
Parking Lot: Yes
Paved Lot: Yes

Roof

Asphalt Shingles: Yes

Sewer

City Sewer/Connected: Yes

Stories

One: Yes

Water

City Water/Connected: Yes

On Site Utilities

Heating Common: Yes
Heating Separate: Yes

CMU Style

Apartments/Multi Family: Yes

Current Use

Residential: Yes

Roseau, MN 56751