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For Sale:  Effie MLS# 7141188

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Active NEW!
$225,900
/mo Edit
Commercial:  2 Stories
8 br • 6 ba • Built 1962
0.51 acres
Grand Rapids schools
MLS# 7141188
763-576-8286
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    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.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $225,900
    Property Type: Commercial
    City: Effie
    Garage Spaces: 0
    County: Itasca
    Year Built: 1962
    State: MN
    Property Style: 2 Stories
    Zip Code: 56639

    Interior

    Bedrooms: 8
    Bathrooms: 6
    Refrigerators: Six or More
    Appliances Included:
    • Range
    • Refrigerator
    Basement Details: Finished

    Exterior

    Stories: Two
    Garage Spaces: 0
    Air Conditioning: Central Air
    Foundation Size: 2,256 ft2
    Handicap Accessible: None
    Heating System:
    • Baseboard
    • Forced Air
    Parking Features: Parking Lot
    Exterior Material:
    • Brick
    • Frame
    Roof Details:
    • Architectural Shingle
    • Flat
    • Metal

    Rooms

    Shared Rooms: Other

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.51
    Geolocation: 47.8400965593, -93.6366062226
    Inclusions: Building, Business, Fixture/Equipment, Land, Leases
    Lot Dimensions: .51 acres
    Zoning: Residential-Multi-Family

    Schools

    School District: 318
    District Phone: 2183275704

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: None
    Annual Maintenance Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: None
    Tenant Expenses: Broadband, Cable TV, Insurance, Telephone

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $1,399
    Lender-owned: No
    Assessment Pending: Yes
    Taxes w/ Assessments: $1,804

    Income

    Annual Gross Income: None

    Rent

    Annual Net Income: None

    Units

    Total Units: 6

    Miscellaneous

    Current Use: Residential
    Fuel System:
    • Electric
    • Propane
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Common
    • Heating Common
    • Hot Water Common
    Water System: Drilled
    Power Company Name: Northern Itasca Electric

    Mortgage Calculator

    Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment and loan term. Property taxes are based on the last known value for this property or 0.012 of property price when data is unavailable. Your interest rate and insurance rates will vary based on credit score, loan type, etc.
    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 COLDWELL BANKER NORTHWOODS.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.