18894 Estate Drive Park Rapids, MN $ 515,000
18894 Estate Drive
$ 515,000
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18894 Estate Drive

Park Rapids, MN, 56470
$ 515,000
Baths0.0 Sq 4,466

Monthly Estimate*

$ 3,597

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Studio

Commercial Property for sale in Park Rapids, MN

for $515,000. This 4,466 square foot building was built in 1960 on a lot size of 10.55.

Invest in a 5 unit apartment building overlooking a lake on over 10 acres of land! This property is less than 3 minutes to Park Rapids and just north of Long Lake, overlooking Mud Lake. Fabulous setting! The 2 buildings contain 5 separate units. Two of the units are 3 bedroom, 2 bath units. One is a main level unit and the other 3 bedroom is an upper level unit. There are also 3 units that have 2 bedrooms and 1 bath. Of these 2 bedroom units, two of them are upper level and one is lower. All have many recent updates and are in very nice condition. Always full, there is a huge demand for rentals in the area.

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Commercial Active

Price

$ 515,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 3,290

Style

Apartment

Lot Size

10.55

Year Built

1960

Town/City

Park Rapids

County/Region

Hubbard

MLS | Web ID

6520698

Features
General
Sewer Private Sewer Septic System Compliant - Yes Tank with Drainage Field
Heating Baseboard Dual Other
Cooling Window Unit(s)
Utilities Electric Separate
Roof Age Over 8 Years Metal Pitched
Appliances Electric Water Heater Range Refrigerator
Garage Spaces 0
Construction Materials Vinyl Siding
Year Built 1960
Tenant Pays Cable TV Electricity
Topography Level
Levels Two
Property SubType Apartment
Tax Year 2023
Current Use Residential
Gross Income 57300
Waterfront Features Lake View
Accessibility Partially Wheelchair
County Hubbard
Net Operating Income 45800
Property Type Commercial Sale
Association Amenities Patio
Contingency None
Directions From Park Rapids East on Hwy 34 about 3 miles to the Long Lake access (fill) on the right. Continue for 1/8 mile to the first roadway on the left (north) on Hwy 34 just past Mud Lake turn left on to
City Park Rapids
Buyer Agent Compensation 2.25
Body of Water Unnamed Lake
High School District Park Rapids
Zoning Description Other
Total Units 5
Waterfront Y/N N
Street Name Estate
Land Lease Y/N N
Tax Annual Amount 3290
Additional Parcels Y/N N
Days on Market 5
Standard Status Active
Lender Owned No
Amenities Unit Patio
Buyer Agent Compensation Type %
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Interior
Basement Slab
Basement (Y/N) N
Street Suffix Drive
Ceiling Height Less Than 8 Feet
Foundation Dimensions 49x48 40x24
Fuel Electric Propane
Lake Acres 0
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Exterior
Parking Features Gravel Guest Parking More Parking Onsite for Fee
Lot Features Tree Coverage - Medium
Water Source Submersible - 4 Inch Well
Inclusions Building Land Leases
Lot Size Area 10.55
Building Area Total 4466
Lot Dimensions 1022x596x690x745
Lot Size Units Acres
Foundation Area 2352
Road Frontage Type Township
Road Responsibility Private Maintained Road
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Internal Only
Street Number 1 18894
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* Excluded Features
List By
Keller Williams Realty Professionals

Broker

jgc@unitelc.com

Email

Affordability Calculator

$3,872
Per Month
93%
7%
0%
Monthly Principal & Interest
$3,597
Monthly Property Taxes
$274
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
709114 Elementary School
709313 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/17/2024$515,000 Listed Price

Map


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18894 Estate Drive, Park Rapids, MN, 56470 is a Commercial Property for sale at $515,000 with 4,466 sqft and a lot size of 10.55. 18894 Estate Drive is a studio with 0.0 baths and was built in 1960. The property's zip code is 56470 which is in Park Rapids, MN