150 S Irving AVE Contingent Save Request In-Person Tour Request Virtual Tour
Rush City,MN 55069
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Contingent
Purchase Type For Sale
Subdivision John E Smiths 1St Add
MLS Listing ID 6649758
Year Built 1974
Annual Tax Amount $7,684
Tax Year 2024
Contingent Other
Lot Size 0.400 Acres
Acres 0.4
Lot Dimensions 100x275
Property Description
This well-maintained 9-unit apartment building is a fantastic investment opportunity, offering a diverse mix of units including 2 one-bedroom apartments, 1 studio, and 6 two-bedroom units. Most of the units have been recently updated, providing modern living spaces while minimizing maintenance needs for the future owner. The property also features newer windows throughout and an installed drain tile system, ensuring long-term durability and reducing the risk of costly repairs. With ample parking available for residents and trash services on-site, the building offers convenience and ease of management. Additionally, the building has a solid CAP return rate average of 7.9% at this value, making it a strong performer for investors seeking reliable income. The current rent levels are somewhat below the area's average, offering potential for future rent adjustments without immediate disruption to existing tenants. This provides an opportunity for increased returns over time, with minimal immediate concern for tenant stability. This building is a great choice for both new and seasoned investors looking for a low-maintenance property with solid return.
Location
State MN
County Chisago
Zoning Business/Commercial,Residential-Multi-Family
Rooms
Basement Drainage System
Interior
Heating Baseboard
Inclusions Building,Fixture/Equipment,Leases
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available Electric Separate,Heating Separate,Hot Water Separate
Roof Type Age Over 8 Years,Asphalt
Present Use Residential
Building
Story Two
Foundation 4100
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Cedar,Stucco
Schools
School District Rush City
Others
Virtual Tour https://my.matterport.com/show/?m=5wQwbfAA1JW&mls=1