331 Fox Lake Ave Sherburn, MN 56171

Property Details for 331 Fox Lake Ave

Year built

1975

Lot size

1.32 lot acres

Property size

13,440 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a 16-unit apartment complex ideally situated at 331-333 Fox Lake Avenue in Sherburn, Minnesota. The property encompasses a substantial 1.32 acres and boasts a total of 13,440 square feet of living space, currently generating consistent income due to 100% occupancy. The complex comprises two buildings, each featuring seven two-bedroom apartments and one one-bedroom apartment, providing a diverse mix of unit types to cater to a wide range of tenants. Each building is equipped with dual 100-gallon electric water heaters, ensuring reliable hot water supply for all residents. Further enhancing convenience and generating additional revenue, each building includes a shared laundry room complete with a laundry sink and coin-operated washers and dryers. The property is meticulously maintained and presents a stable, well-managed investment opportunity with a proven track record of consistent occupancy. The asking price for this turnkey multifamily investment is $880,000. This represents a compelling opportunity for investors seeking a strong return on investment in a stable market. The property's excellent condition, high occupancy rate, and desirable location make it an attractive prospect for both seasoned investors and those new to the multifamily market. The well-maintained buildings and efficient layout contribute to low operating costs and high profitability. This is a rare chance to acquire a fully occupied, income-producing property in a desirable location.

Location Insight

City

Sherburn

County

Martin

State

Minnesota

Longitude

-94.72128

Latitude

43.65774