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    15244 Douglas Ave Thief River Falls, MN 56701

    Sponsored
    For Sale
    $450,000

    10-plex apartment building, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional investment opportunity presents a 10-unit apartment building situated on a sizable land parcel in Thief River Falls, Minnesota. The property, located at 15244 Douglas Avenue, zip code 56701, Pennington County, boasts a diverse unit mix, including one two-bedroom apartment and nine one-bedroom apartments. Each unit is equipped with a full bathroom, offering comfortable living spaces for residents. Built in 1976, this property presents a strong foundation for immediate income generation and potential future development. The asking price is $450,000. While the lot size is not currently specified, the substantial building footprint indicates a significant land area. This multifamily property is ideally suited for investors seeking a proven rental income stream in a stable market. The property's location in Thief River Falls offers convenient access to local amenities and services, making it an attractive option for tenants. This is a rare opportunity to acquire a well-established multifamily property with significant upside potential. The property's age provides an opportunity for future renovations and upgrades to enhance rental income and property value. Serious inquiries are encouraged to explore this promising investment.

    Property Features for 15244 Douglas Ave

    General Information

    Property type
    Land

    Building Details

    Year Built
    1976

    HighLights

    • $450,000 asking price.
    • Land property in Thief River Falls, MN.
    • Commercial and residential zoning.
    • Built in 1976.
    • 10‑plex apartment building: one 2‑bedroom unit and nine 1‑bedroom units, each with one full bath.
    • Lot size not specified.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Spa & Massage Wholesale Shop Auto Repair Shop Clothing Store Hotel & Motel Auto Parts Store Gym & Fitness Skin Care Clinic Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Thief River Falls
    County
    Pennington
    State
    Minnesota
    Longitude
    -96.144046
    Latitude
    48.097993

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    FAQs

    What type of property is this?
    Land - 10-plex apartment building, prime location.
    Where is this land located?
    The property is located at 15244 Douglas Ave Thief River Falls, MN.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: $450,000 asking price.; Land property in Thief River Falls, MN.; Commercial and residential zoning.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    15244 Douglas Ave Thief River Falls, MN 56701
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