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PENDING! Supported Living Investment

Listed by Tim Miller


Property Description: PENDING! Excellent opportunity to invest in a supported living home located in Baxter! This 4-bedroom home is leased by Lutheran Social Services as a supported living home. This low maintenance investment is conveniently located near schools, churches, shopping, trails and more.

Listing Details

mls: 4899700
CC File #: 1473
Address: 11645 Forestview Drive
City: Baxter
State: MN
Zip: 56425
Zoning: R1 - Low Density Residential
PID#: 032260010050009
Legal Description: Lot 5 Block 1 Tenth Addition to Forestview-on-the-River
Lot Size : Acres: 0.69
Lot Size : Sq.Ft.: 30,056
Lot Dimensions: 125' x 213.587' x 142' x 239.77'
Building Size : Total Sq. Ft.: 2,912
Building Size : Main Level Sq. Ft.: 1,456
Building Size : Lower Level Sq. Ft.: 1,456
Sale Price: $184,900.00
Price Note: See Brochure for Pro Forma and Lease Details
Annual Cash Flow: $15,000.00
Cap Rate: 8

Directions: From Hwy 210/371 Intersection in Baxter - South on Hwy 371 - East on Highland Scenic Road (CR 48) - South on Forestview Drive - Subject is the 4th house on the right (west) after Maryland Road
Property Features & Assets: Main Level: 1,456 SF (4 Bedrooms); Lower Level: 1,456 SF (Unfinished); Garage: 624 SF.

Property Features

Water: Well
Sewer: Septic
Heating: Natural Gas Forced Air
Cooling: Central Air - Electric Ground Unit
Electric : Amps: 200
Electric : Phase: Single
Lighting: Fluorescent & Incandescent
Year Built: 1998
Construction: Wood Frame
Foundation: Concrete Block
Roof: Asphalt Shingles
Exterior: Vinyl Siding
Traffic Counts: 12,000 on Hwy 371 and 4,400 on Highland Scenic Road
Property Tax Year: 2017
Annual Property Tax: $2,026.00
Ceiling Height: 8' & 10' Vaulted
Bathrooms: 2
Road Frontage: 125' along Forestview Drive
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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.