This income producing property in Turtle Lake consists of 3 rental apartments grossing $1,475/month. These 3 units are on verbal month to month leases. Rents have not been raised for many years for two of the apartments. There is a lease through 2026 with the Post Office grossing $8,950/year but scheduled to rise to $9849/year by May 2021. There are 4 storage locker units with the potential to produce $50/month per locker. The seller pays all the utilities for the 3 rental apartments which run about $5,155 and $2,600 for insurance. However, these units are metered separately if you wanted to change that. The Post Office pays all their utilities and reimburses the seller for the yearly property taxes so there is really no out of pocket cost there except for building maintenance. The apartments have a roof that is approx. 4 years old. The Post Office has a roof that is 12 years old w/25 year warranty. 2 car garage is included as well.
The data relating to real estate for sale on this site comes in part from the Broker Reciprocity program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Kris Lindahl - Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity house icon and detailed information about them includes the names of the listing brokers. Kris Lindahl - Real Estate is not a Multiple Listing Service MLS, nor does it offer MLS access. This website is a service of Kris Lindahl - Real Estate, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.
Information deemed reliable but not guaranteed.
Copyright 2019 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.
By searching, you agree to the EULA Terms Agreement.
Listing information last updated on September 17th, 2019 at 3:35pm CDT.