Listing Courtesy of: William Jerikovsky - RE/MAX RESULTS
763-689-3577
$800,000
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150 S Irving Avenue Rush City, MN 55069
Apartment
Residence
Beds
Baths
...
Bed/Bath
8,200
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
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.
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MLS#
6649758
Property Type
Apartment
Year Built
1974
Square Feet
8,200
sq. ft
Lot Size
0.4
Stories
2.0
Sewer
City Sewer
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