For Sale: Deerwood MLS# 7034394
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Property Description
Excellent investment opportunity in the heart of the Cuyuna recreation area. This well-maintained five-unit property offers a strong unit mix with two oversized one-bedroom units and three two-bedroom units, each with its own garage. The building has historic character and has been well cared for over the years. Shared coin-operated laundry provides additional income potential. Located near the Cuyuna mine pits, mountain bike trails, and many area attractions that draw visitors year-round. The current owner has experienced success with short-term rentals, presenting a potential opportunity for investors looking to explore similar use, subject to local regulations. Whether you are seeking a long-term rental investment or exploring short-term rental possibilities, this property offers strong income potential in a highly desirable recreation destination.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$379,000
Property Type:
Commercial
City:
Deerwood
Garage Spaces:
5
County:
Crow Wing
Year Built:
1920
State:
MN
Property Style:
2 Stories
Zip Code:
56444
Subdivision Name:
Foleys First Add Cuyuna
Interior
Bedrooms:
8
Bathrooms:
5
Refrigerators:
Five
Appliances Included:
- Range
- Refrigerator
Exterior
Stories:
Two
Garage Spaces:
5
Garage Dimensions:
23x60
Garage Size:
1,380 ft2
Foundation Size:
2,556 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Boiler
- Fireplace(s)
Parking Features:
- Asphalt
- Covered
- Detached Garage
- Open
- Parking Lot
Road Frontage:
- City Street
- Paved Streets
Lot & Land
Acres:
0.55
Geolocation:
46.5169045, -93.9252149
Inclusions:
Building, Inventory, Land, Leases
Lot Dimensions:
120 x 200
Zoning:
Residential-Multi-Family
Schools
School District:
904
District Phone:
2185458801
Expenses
Annual Electric Expense:
$3,056
Annual Fuel Expense:
$4,464
Annual Insurance Expense:
$4,436
Annual Maintenance Expense:
$804
Annual Trash Expense:
$1,429
Annual Water/Sewer Expense:
$1,575
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$2,668
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$2,668
Income
Annual Gross Income:
$53,340
Rent
Annual Net Income:
$30,724
Units
Total Units:
5
Miscellaneous
Current Use:
Residential
Fuel System:
- Electric
- Propane
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
Electric Separate
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 LPT Realty, LLC..
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.