110-116 Baldwin St - Apartments FOR SALE


Granite Falls, MN 56241
$800,000 USD
612-849-0687
110-116 Baldwin St, Granite Falls, MN for Sale
$800,000 USD
Apartments - FOR SALE
1/20
null | 8.96% Cap Rate

110-116 Baldwin St
Granite Falls, MN 56241


HIGHLIGHTS

  • Cash flowing 16 units (2 - 8 unit buildings). Looking for a solid investment property with room to increase cash on cash significantly? This is it.
  • 2 BR units-750 SF, 1 BR-700 SF. Water, garbage & hot water included in rents. Tenants pay electricity, cable and internet. Coin Laundry.
  • 2 Well maintained 8 unit bldgs. About 1/2 the windows replaced. Exterior recently painted and room to grow rents. 50 year Metal roofs (10 yrs old)

OVERVIEW

All information deemed reliable but not guaranteed. All tenants with HRA (5 units on section 8) have potential to move rents higher to meet county max for the voucher. Buyer/Agent to verify with the county. Contact list agent for P/L & showing. Cash flowing 16 units (2 - 8 unit buildings). Looking for a solid investment property with room to increase cash on cash significantly? This is the one. Never any vacancy unless wanted for unit turns. Chippewa County has a strong need for affordable rental property. This property has 2 well maintained 8 unit buildings. Some the windows have been replaced. The exterior was recently painted and there is room to grow rents. 50 year Metal roofs on both buildings (approximately 10 years old). 2 BR units are 750 SF, 1 BR are 700 SF. Water, garbage and hot water are included in the rents. Tenants pay electricity, cable and internet. Coin operated laundry. Strong, low maintenance, income. Remaining showings cancelled, an offer has been accepted - 4/8/25

FOR SALE DETAILS

PRICE

$800,000 USD

PRICE/SF

$125 USD /SF

# OF UNITS

16

PRICE/UNIT

$50,000

CAP RATE

8.96%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Riverside Estates

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1976

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,818 SF

ZONING

Multi-family

APN/PARCEL ID

40-180-0110

ASK ABOUT THIS PROPERTY

David MeyerRemax Advantage PlusMore Info
612-849-0687

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David MeyerRemax Advantage PlusMore Info
612-849-0687

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.