For Sale: Superior MLS# 6807647
Active
$350,000
Multi-family: Other
Built 1914
2,260 sqft • 0.09 acres
Superior schools
MLS# 6807647
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Property Description
Fully leased 5-plex in a prime Superior location! Situated on the corner of Banks Avenue and N 11th Street, this solid, well-maintained property features three 1-bedroom units and two studio apartments. The building offers a full poured-concrete basement and strong rental history. Several units have been updated, with opportunity to add value as others turn over. Per the seller, the Weil-McLain boiler and heating components have been upgraded, and the roof has been recently replaced. Currently generating approximately $4, 055 per month in rental income with average monthly expenses of about $960 (utilities, taxes, and insurance) — this is a great opportunity for steady cash flow and continued equity growth
Listing
Listing Status:
Active
Contingency:
None
List Price:
$350,000
Price per sq ft:
$155
Property Type:
Multi-family
City:
Superior
Garage Spaces:
0
County:
Douglas
Year Built:
1914
State:
WI
Property Style:
Other
Zip Code:
54880
Subdivision Name:
West Superior 01 Div
Interior
Finished Area:
2,260 ft2
Living Area:
2,260 ft2
Basement Details:
- Concrete
- Full
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
2,260 ft2
Foundation Dimensions:
22 x 32 +12 x 14
Handicap Accessible:
None
Heating System:
Hot Water
Parking Features:
Other
Exterior Material:
Metal Siding
Lot & Land
Acres:
0.09
Geolocation:
46.725594, -92.105138
Lot Dimensions:
50 x 80
Zoning:
Residential-Multi-Family
Schools
School District:
5663
District Phone:
715-394-8710
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$2,280
Annual Fuel Expense:
$2,100
Annual Insurance Expense:
None
Annual Maintenance Expense:
None
Annual Gross Expense:
$11,520
Annual Trash Expense:
None
Annual Water/Sewer Expense:
$2,004
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$3,441
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$3,441
Income
Annual Gross Income:
$48,660
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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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!
Listing provided by RMLS,
courtesy of RE/MAX Results Duluth.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.