Great investment opportunity! This building has three apartments, two of which have been completely remodeled within the last year. The first apartment is 3 bedrooms, one bath on the second floor with current rent at $950 per month. The second apartment is also on the second floor with three bedrooms, one bath currently $800 per month. The third apartment is on the main floor and has two bedrooms and is currently $900 per month. The main floor features a laundromat that averages $500 - $800 monthly income. There is opportunity for increases to market rate for rent as well as storage space in the basement and the possiblity to convert the other half of the laundromat to retail space. Apartments have control of their own heat, and could use locked thermostats to lower monthly gas bills. Potential increases of over $1,000 per month with little capital invested. Electric averages around $4 per day, Water bill is consistently $250/Month and Garbage is $40/Month.
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Listing information provided courtesy of the Realtor Association of Southern Minnesota. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 8th June, 2023 12:13 AM (UTC)
Listing Office: Siesta Hills Realty