For Sale: Balsam Lake MLS# 6699705
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Property Description
Don�??t miss out on this fantastic investment opportunity in thriving downtown Balsam Lake! This property offers three apartments (one of which has already been renovated) with a strong rental history, all currently leased, providing steady income. In addition to the residential units, there�??s a business space on the main level, storage and common space in the basement, and coin operated laundry facilities that generate even more income. Two additional garage storage spaces are also included and can be combined with tenant lease for additional income. Whether you choose to live in one of the apartments or strictly use the entire building as rental income, this property is a smart choice for investors. A 24-hour notice is required due to tenant occupancy.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$299,900
Property Type:
Commercial
City:
Balsam Lake
Garage Spaces:
2
County:
Polk
Year Built:
1938
State:
WI
Property Style:
Apartments/Retail
Zip Code:
54810
Subdivision Name:
Original V Balsam Lake
Interior
Ranges:
Three
Refrigerators:
Three
Appliances Included:
- Dryer
- Range
- Refrigerator
- Washer
Basement Details:
- Full
- Storage Space
- Unfinished
Exterior
Stories:
Two
Garage Spaces:
2
Garage Dimensions:
14x22 each
Other Parking Spaces:
1
Air Conditioning:
Window Unit(s)
Foundation Size:
1,440 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Hot Water
Parking Features:
On-Street Parking Only
Shared Amenities:
Coin-op Laundry Owned
Road Frontage:
City Street
Exterior Material:
Brick/Stone
Roof Details:
Flat
Lot & Land
Acres:
0.09
Geolocation:
45.450361, -92.452753
Inclusions:
Building, Leases
Lot Dimensions:
50 x 140
Zoning:
Business/Commercial
Lot Description:
Corner Lot
Schools
School District:
W238
District Phone:
715-825-3515
Expenses
Annual Electric Expense:
$1,200
Annual Fuel Expense:
$1,560
Annual Insurance Expense:
$3,000
Annual Gross Expense:
$7,325
Annual Trash Expense:
$600
Annual Water/Sewer Expense:
$965
Tenant Expenses:
Electricity, Gas
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$2,031
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$2,031
Income
Annual Gross Income:
$34,260
Rent
Annual Net Income:
$26,935
Units
Total Units:
4
Miscellaneous
Current Use:
- Professional/Office
- Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
Heating Common
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Property Executives Realty.
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.