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401 1st AVE SE Pelican Rapids, MN 56572
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Key Details
Sold Price $212,500
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,280 sqft
Price per Sqft $64
Subdivision Frazees 4Th Add
MLS Listing ID 6321000
Sold Date 07/14/23
Year Built 1959
Annual Tax Amount $2,610
Tax Year 2022
Contingent None
Lot Size 0.290 Acres
Acres 0.29
Lot Dimensions 105x120
Property Sub-Type Triplex
Property Description
Investment opportunity in Pelican Rapids with great rental history! This completely occupied triplex features a recently UPDATED 3 Bed one bath unit and an efficiency unit on the main level, along with a lower level walkout 2 Bed 1 bath unit. See financial remarks for rents and expenses! Owner bills back for Utilities. Shared Laundry in the basement. There are 2 Tuck-under garage stalls along with street and paved driveway parking. Furnace replaced 3 years ago and shingles replaced within 7 years. City corner lot has frontage on 3 streets. Don't miss out on this great opportunity achieving a 11.4 Cap Rate! Call today for more details and to schedule a private showing.
Location
State MN
County Otter Tail
Zoning Residential-Multi-Family
Rooms
Family Room Other
Basement Partially Finished, Slab, Walkout
Interior
Heating Baseboard, Forced Air
Fireplace No
Exterior
Parking Features Attached Garage, Asphalt, Shared Garage/Stall, Tuckunder Garage
Garage Spaces 2.0
Roof Type Age Over 8 Years,Asphalt
Building
Lot Description Corner Lot, Many Trees
Story One
Foundation 2048
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories One
Structure Type Wood Siding
New Construction false
Schools
School District Pelican Rapids
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