315 Lake Avenue, Park Rapids, MN 56470

$212,500
Sold Price
$212,500
List Price
$229,995
Closing Date
Feb 13, 2024
Days on Market
92
Status
CLOSED
MLS#
6459680
Lot Size (Acres)
0.35000000000000003
Style
(RT) Apartment
Year Built
1900

Property Description

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.

Additional Information

Stories
Two
Heating
Baseboard, Boiler, Hot Water
Roof
Architecural Shingle
Water
City Water/Connected
Sewer
City Sewer/Connected
School District
Park Rapids

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Affinity Real Estate Inc.. Selling Office: eXp Realty.

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