Sold: Falcon Heights MLS# 6029419
Sold
$2,200,000 (list price)
$2,230,000
Commercial: Apartments
Built 1965
0.56 acres
Roseville schools
MLS# 6029419
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Property Description
Want a Cash flow building for your portfolio? This brick 12 unit in the neighborhood of Falcon Heights. The location is across the street from the agricultural U of M campus.
Spacious apartments with 2 bedrooms, 2 bathrooms, dining area, family room, and large entry area with fireplace, two decks.
Lower level apartments don't have decks and one unit has one bathroom with a large walk-in master closet instead of a 2nd bathroom.
New asphalt parking lot. Everyone has an assigned parking space. 11 Garages, rent for $75 a month, new garage doors. Tenants can get off-street parking permits too. Four of the kitchens have been updated with new stoves and old ovens removed. All carpeting had been removed and new vinyl flooring installed in all units. Gas fireplaces in all units.
Listing
Listing Status:
Sold
Contingency:
None
List Price:
$2,200,000
Sold Price:
$2,230,000
Sold Date:
09/28/2021
Property Type:
Commercial
City:
Falcon Heights
Garage Spaces:
11
County:
Ramsey
Year Built:
1965
State:
MN
Property Style:
Apartments
Zip Code:
55113
Subdivision Name:
Lindig Add
Interior
Ceiling Height:
8-10
Ranges:
One Per Unit, Six or More
Refrigerators:
One Per Unit, Six or More
Appliances Included:
- Dishwasher
- Exhaust Fan
- Range
- Refrigerator
Basement Details:
None
Exterior
Garage Spaces:
11
Other Parking Spaces:
13
Air Conditioning:
Wall Unit(s)
Foundation Size:
4,878 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Hot Water
Parking Features:
- Asphalt
- Assigned
- Detached
- Units Vary
Shared Amenities:
Coin-op Laundry Leased
Unit Amenities:
- Deck
- Porch
Road Frontage:
- City Street
- Curbs
- Paved Streets
Exterior Material:
- Brick/Stone
- Vinyl Siding
Roof Details:
Rubber
Lot & Land
Acres:
0.56
Geolocation:
44.99245924, -93.17930576
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
152 x 160
Zoning:
Residential-Multi-Family
Lot Description:
Public Transit (w/in 6 blks)
Schools
School District:
623
District Phone:
651-635-1600
Expenses
Annual Electric Expense:
$9,911
Annual Insurance Expense:
$9,056
Annual Gross Expense:
$61,479
Annual Trash Expense:
$3,075
Annual Water/Sewer Expense:
$12,819
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2021
Annual Taxes:
$29,226
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$29,226
Land Lease Amount:
0
Income
Annual Gross Income:
$206,580
Rent
Annual Net Income:
$145,101
Units
Total Units:
12
Miscellaneous
Current Use:
Commercial
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
Electric Separate
Water System:
City Water/Connected
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Local Home Mortgage Professionals
651-253-2144
Jason & Kim Stone
Branch Manager & Co-Branch Manager
Fairway Mortgage NMLS#1018649
Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
It would be our pleasure to assist you with your home purchase!
Listing provided by RMLS,
courtesy of Keller Williams Premier Realty.
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.