106 2Nd St, Ulen, MN 56585
- Commercial real estate
- 6,650 SF
Current Use by Public Records
- Commercial real estate
Property Details for 106 2Nd St
- Year built
- 1978
- Property type
- Commercial real estate
- APN
- 60.900.0170 / 60.125.0910
Description
This exceptional investment opportunity presents a well-maintained, eight-unit apartment building located at 106 and 110 2nd Street NW, Ulen, MN 56585. The property boasts a total of 6,650 square feet, with 6,150 square feet of net rentable space, spread across two, two-story buildings on a substantial 33,531 square foot lot. Built in 1978, the property features a durable all-brick exterior and a recently installed steel roof, minimizing maintenance expenses. The eight units comprise seven two-bedroom units and one one-bedroom unit, each designed for maximum living space and tenant comfort, resulting in consistently high occupancy. Tenants are responsible for their own heat and electricity. Adding to the property's value are six garage units situated on an adjacent parcel. Currently generating modest rental income, there's significant potential for increased net operating income (NOI) through rental adjustments. The property is offered at $449,000 and is held under an LLC. The property's parcel numbers are 60.900.0170 and 60.125.0910. This is a turnkey investment ready for a new owner.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Ulen
- County
- Clay
- State
- Minnesota
- Longitude
- -96.2601789
- Latitude
- 47.0800669
