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For Sale:  Effie MLS# 6751632

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Active
$259,900
/mo Edit
Commercial:  Apartments
Built 1962
0.51 acres
Grand Rapids schools
MLS# 6751632
763-576-8286
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    Property Description

    Turnkey Six-Plex Investment Opportunity. Fully Occupied and Well Maintained. Investor alert! This fully occupied six-unit apartment complex offers a solid, turnkey investment with a strong rental history and consistent occupancy. Each unit is clean, updated, and equipped with central air, providing comfortable living conditions that attract and retain quality tenants. The property features designated parking with individual electric hookups, a coin-operated laundry area for additional income, and a shared outdoor space with a patio and raised garden beds. This well-maintained complex operates at full capacity within a stable rental market, ideal for the seasoned investor or anyone looking to expand their portfolio with a proven, income-producing asset. Qualified buyers only.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $259,900
    Property Type: Commercial
    City: Effie
    Garage Spaces: 0
    County: Itasca
    Year Built: 1962
    State: MN
    Property Style: Apartments
    Zip Code: 56639

    Interior

    Ranges: Six or More
    Refrigerators: Six or More
    Appliances Included:
    • Range
    • Refrigerator
    Basement Details: Finished

    Exterior

    Stories: Two
    Garage Spaces: 0
    Other Parking Spaces: 6
    Air Conditioning: Central Air
    Foundation Size: 2,256 ft2
    Handicap Accessible: None
    Heating System:
    • Baseboard
    • Forced Air
    Parking Features: Parking Lot
    Shared Amenities:
    • Coin-op Laundry Owned
    • Common Garden
    • Patio
    Exterior Material:
    • Brick/Stone
    • Log Siding
    Roof Details: Metal

    Rooms

    Shared Rooms: Other

    Lot & Land

    Acres: 0.51
    Geolocation: 47.8400965593, -93.6366062226
    Inclusions: Building
    Lot Dimensions: .51 acres
    Zoning: Residential-Multi-Family

    Schools

    School District: 318
    District Phone: 218-327-5704

    Expenses

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

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $1,419
    Lender-owned: No
    Assessment Pending: Unknown
    Taxes w/ Assessments: $1,824

    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

    Mortgage Calculator

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    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.