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SOLD! 8-Plex Investment

Listed by Tim Miller


Property Description: SOLD! Excellent investment opportunity in Walker! Well maintained 8-Plex apartment building located just south of downtown Walker on CR 12. Currently 100% occupied. The Pine Hill Apartments are located in nature's backyard. Renters can enjoy the peaceful surroundings of the lakes area yet have the convenience of being close to shopping, restaurants, schools and entertainment.

Listing Details

mls: 4843677
CC File #: 1449
Type of Business: 8-Plex Apartment Complex
Address: 7995 CR 12 NW
City: Walker
State: MN
Zip: 56484
Zoning: Rural Residential 2.5
PID#: 38-127-2208
Legal Description: Part of Gov Lot 1, Sec 27-142-31
Lot Size : Acres: 1.63
Lot Size : Sq.Ft.: 71002.8
Lot Dimensions: 252.45' x 326.49' x 144.35' x 392.65'
Building Size : Total Sq. Ft.: 5,376
Building Size : Upper Level Sq. Ft.: 2,688
Building Size : Lower Level Sq. Ft.: 2,688
Sale Price: $399,000.00
Annual Cash Flow: $47,907.00
Cap Rate: 12

Directions: From the Hwy 371/200 intersection at the Northern Lights Casino in Walker - West on Hwy 200 - South on CR 12 NW - Property is located on the West side of CR 12 at 7995
Property Features & Assets: Lower Level: 2,688 SF (One 1-Bdrm Apt & Three 2-Bdrm Apts, plus Shared Laundry Room & Mechanical Room). Upper Level: 2,688 SF (Four 2-Bdrm Apts plus a Shared Back Deck). Car Ports: 3-Car (600 sq. ft.) & 4-Car (800 sq. ft.). Laundry Room: 2 Commercial Washers & 2 Commercial Dryers.

Property Features

Water: Well (Installed in 1986, 4" Submersible, 85' Deep) Soft Water
Sewer: Septic Tank w/ Drainfield
Heating: Electric Baseboard
Cooling: In-Wall AC Units
Year Built: 1986
Construction: Wood Frame
Foundation: Wood
Roof: Asphalt Shingles
Exterior: Masonite
Other: Direct Wired Smoke Alarm System w/ Back-Up Battery
Property Tax Year: 2017
Annual Property Tax: $2,022.00
Bathrooms: 8 (1 per Apartment)
Road Frontage: 252' on CR 12
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Information provided by members of Greater Lakes Association of Realtors. Copyright 2009 Greater Lakes Multiple Listings Service. All rights reserved. Information is deemed reliable but not guaranteed.