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Property Details

315 Lake Avenue
Park Rapids, MN 56470

Price: $229,995

Listing # 6459680


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Welcome to Lake Avenue Apartments. A rare 6 plex offering with 4 studio units and two 1 bedroom units. Awesome rental history and at full capacity. Property is currently managed, making it ideal for the passive investor. The rental market is HOT with no change in sight. If you are looking for diversification into a tangible with positive cash flow then look no further. Sits on a corner lot just a stone’s throw from the Park Rapids schools and walking distance to everything else downtown has to offer. Financials, appraisal (2023) and inspection (2023) are available with a signed NDA.

Basic Features:

Style Apartment
Type Commercial Sale
Zoning Residential-Single Family
Year Built 1900
School District Park Rapids
County Hubbard
Lot Size 110 x 140
Acreage 0.35 acres
Lot Description Corner Lot
Number of Units 6
Tax $ / Year $1,709 / 2023
Tax ID
Legal Description

Includes:

Building,Land,Leases,

Excludes:

Additional Features
Government Programs
Section 23
Terrain Type
Roads City Street
Basement Other,Unfinished
Driveway
Exterior Features Stucco
Foundation 1700.00
Fuel Source Electric
Handicap Access None
Heating Baseboard,Boiler,Hot Water
Roof Architecural Shingle
Sewer Service City Sewer/Connected
Water Service City Water/Connected
Water Heater
Parking Lot Other
Exterior Construction
Utilities Electric Common,Heating Common,Hot Water Common
Laundry N

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