Property Listing
Description
Income-Producing Investment Property | 3 Units | Detached 2-Stall Garage Investors, take note! This unique property offers three existing rental units, a detached two-stall garage (garage not currently rented), and a large, level corner lot with additional income potential. Currently generating $31,800 in annual gross income with reported annual expenses of $10,559, the property produces an estimated annual net income of $21,241. Originally built as a single-family home, the property has been converted into three separate rental units. The original interior staircase remains intact, with doorways currently separating the units, offering the potential to explore a conversion back to a single-family residence, subject to applicable requirements. The exterior is in good condition, while the interior offers an opportunity for updates and improvements to enhance the property’s value and rental potential. Buyers should anticipate interior work, including flooring updates and possible plumbing-related repairs. With established rental income, a detached two-stall garage, and a spacious corner lot, this property offers multiple possibilities for investors looking to expand their portfolio or buyers seeking a property with flexibility and long-term potential. Explore the possibilities and make this investment your own! Offered at $220,000.
Property Information
Status: Active
Sub Type: ********
List Price: $220,000
MLS#: 7157891
Current Price: $220,000
Address: 1202 Elm Street, Alexandria, MN 56308
City: Alexandria
State: MN
Postal Code: 56308
Geo Lat: 45.878747
Geo Lon: -95.381229
Subdivision: Hicks 3rd Add
County: Douglas
Property Description
Year Built: 1900
Lot Size SqFt: 13939.2
Gen Tax: 2768
Specials Inst: 0
High School: Alexandria
Square Ft. Source:
Above Grade Finished Area: 1568
Below Grade Finished Area: 600
Below Grade Unfinished Area:
Total SqFt.: 2352
Style: Array
Total Bedrooms: 5
Total Bathrooms: 3
Total Full Baths:
Garage Type:
Garage Stalls: 2
Waterfront:
Property Features
Exterior:
Roof:
Foundation:
Lot Feat/Fld Plain: Array
Interior Amenities:
Inclusions: ********
Exterior Amenities:
Heat System:
Air Conditioning:
Utilities: