Hillside Apartments

Property Info:

Location:

Address: 348 Coleman Avenue East
Town/Suburb/City: Eden Valley
State/County/Province: MN
Postal code/ZIP: 55329
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Details:

Asking Price: $418,000.00

Contact:

Agent's Name: Mike Bobick, CCIM
Phone Number: 320-333-2692
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Property Description:

Excellent investment opportunity!

Hillside Apartments consists of eight 1 bedroom apartments renting for $602 per month. The property is enrolled in the HUD Section 8 project based Affordable Housing program whereby residents paid 30% of their gross income and the remainder is paid by HUD.

Asking $418,000

  • Property specifics are as follows:
  • The site is approximately 1 acre in size
  • One level property, central hallway
  • Building plans are on file 
  • Roof was re-shingled five years ago
  • Parking lot was expanded and overlaid in 2016 
  • Electric water heaters for each unit and electric heat paid by tenants
  • Common coin op laundry room
  • Apartments are approximately 600 square feet each
  • Triple glazed aluminum sliding windows
  • Metal lap siding
  • Asphalt shingles
  • Lots of green space
  • Building is currently professionally managed and is in excellent condition. 
  • Parcel numbers: 50.30675.0004 and 50.30765.000
  • Proposed 2017 taxes $2,842, located in Stearns County