MN > Rush City > John E Smiths 1St Add
Rush City, MN 55069,150 S Irving AVE
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Rush City, MN 55069,150 S Irving AVE,Video Tour
Rush City, MN 55069,150 S Irving AVE
Rush City, MN 55069,150 S Irving AVE
Rush City, MN 55069,150 S Irving AVE
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Eli Johnson

Eli Johnson

+1(651) 357-2536
$ 800,000
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Contingent

150 S Irving AVE Rush City, MN 55069

0.4 Acres Lot

UPDATED:

01/31/2025 12:47 AM

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

Listed by William Jerikovsky • RE/MAX RESULTS
agent

Eli Johnson

Advisor | License ID: 40157548

+1(651) 357-2536

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150 S Irving AVE