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401 Golf Course Rd

24 Unit Block of Flats £751,152 (£31,298/Unit) 8.33% Net Initial Yield Mountain Lake, MN 56159

Investment Highlights

  • Value Add Opportunity
  • Affordable Housing
  • High Occupancy

Executive Summary

Value Add apartment complex in Mountain Lake, MN. There are two buildings. Each building has eleven two bedrooms and one, one bedroom. Each apartment includes a large walk-in closet. Both buildings have coin operated laundry. The Mountain Lake Apartments offer high occupancy with room for improvement on the current rents.

Attachments

2022 Appraisal Specialty Report (Esri 2024)
EagleViewExport (6)

Data Room Click Here to Access

Financial Summary (Actual - 2024) Click Here to Access

Annual Annual Per SF
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income - -
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2024) Click Here to Access

Gross Rental Income
Annual -
Annual Per SF -
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual -
Annual Per SF -
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £751,152 Property Subtype
Apartment
  • Multifamily Dormitory
Price Per Unit £31,298 Apartment Style Low Rise
Sale Type Investment Building Class C
Net Initial Yield 8.33% Lot Size 1.50 AC
Sale Conditions 1031 Exchange Building Size 21,416 SF
Gross Rent Multiplier 5.33 Average Occupancy 96%
No. Units 24 Number of Floors 2
Property Type Residential Year Built/Renovated 1986/2023
Price £751,152
Price Per Unit £31,298
Sale Type Investment
Net Initial Yield 8.33%
Sale Conditions 1031 Exchange
Gross Rent Multiplier 5.33
No. Units 24
Property Type Residential
Property Subtype
Apartment
  • Multifamily Dormitory
Apartment Style Low Rise
Building Class C
Lot Size 1.50 AC
Building Size 21,416 SF
Average Occupancy 96%
Number of Floors 2
Year Built/Renovated 1986/2023

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Refrigerator
  • Oven
  • Range
  • Walk-In Closets
  • Carpet
  • Yard
  • Vinyl Flooring

Site Amenities

  • Laundry Facilities
  • Picnic Area
  • Property Manager on Site

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+1 22 £508.59 700
1+1 2 £469.47 600

Links

1 of 1

zoning

Zoning Code Multi Family (205 - 4 or more)
Multi Family (205 - 4 or more)
  • Kevin Goettl
    Kevin Goettl
  • Kevin Goettl
(651) 500-4720

  • Listing ID: 34161183

  • Date on Market: 11/12/2024

  • Last Updated:

  • Address: 401 Golf Course Rd, Mountain Lake, MN 56159

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401 Golf Course Rd
(651) 500-4720 x

401 Golf Course Rd

Kevin Goettl

(651) 500-4720

(651) 500-4720

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