For Sale: International Falls MLS# 6764198
Active
$217,500
Commercial: Apartments
Built 1940
0.24 acres
International Falls schools
MLS# 6764198
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Property Description
Investment Opportunity – Fully Rented Apartment with 12% Cap Rate! Step into the world of real estate investing with this turnkey, income-producing apartment property offering a remarkable 12% cap rate. Whether you're a seasoned investor or just getting started, this is the perfect opportunity for new investors looking to build wealth with a high-performing asset.
This property is fully rented with reliable tenants in place, providing immediate cash flow from day one. Low vacancy risk, solid rental history, and minimal management headaches make this an ideal addition to any portfolio. Don’t miss your chance to own a high-yield asset in a strong rental market. Opportunities like this don’t come around often—secure your future in real estate today!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$217,500
Property Type:
Commercial
City:
International Falls
Garage Spaces:
0
County:
Koochiching
Year Built:
1940
State:
MN
Property Style:
Apartments
Zip Code:
56649
Subdivision Name:
International Falls
Interior
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Concrete
- Storage/Locker
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
7
Air Conditioning:
None
Foundation Size:
1,680 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Boiler
- Radiator(s)
Parking Features:
- Electric
- Gravel
- Parking Lot
Shared Amenities:
Coin-op Laundry Owned
Unit Amenities:
- Ceiling Fan(s)
- Kitchen Window
- Tile Floors
Road Frontage:
City Street
Exterior Material:
Stucco
Roof Details:
Flat
Lot & Land
Acres:
0.24
Geolocation:
48.595813, -93.405887
Inclusions:
Building, Fixture/Equipment, Land, Leases
Lot Dimensions:
75X140
Zoning:
Residential-Multi-Family
Schools
School District:
361
District Phone:
218-283-2571
Expenses
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$1,838
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$1,838
Units
Total Units:
7
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Move it Real Estate Group/Lake.
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.