1173 Dewey, Wabasso, MN 56293 (MLS# 6608745)

General Property Information

Lot Measurement: Acres
Management Company Name: Van Binsbergen
Multiple PIDs?: No
Other Parking Spaces: 28
Owner Occupied: No
Waterfront Present: No
Year Built: 1978
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 6000
Management Company Phone: 320-269-6640
For Sale or Lease: For Sale
Acres: 0.63
Lot Dimensions: 125 x 200
Assessment Pending: No
Garage Stalls: 0

Property Features

Accessible: Accessible Elevator Installed; Fully Wheelchair; Grab Bars In Bathroom; Partially Wheelchair Air Conditioning: Wall Unit(s) Amenities Shared: Coin-op Laundry Owned; Common Garden; Deck; Elevator(s); Patio; Security Building Amenities Unit: Cable; Ceiling Fan(s) Appliances: Range; Refrigerator Assumable Loan: Not Assumable Basement: None CMU Style: Apartments/Multi Family Construction Materials: Frame Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone Financing Terms: Conventional Flooring: Carpet; Luxury Vinyl Plank; Tile Foundation: None Fuel: Propane Heating: Boiler Internet Options: Cable Loan Terms: Cash; Conventional Lot Description: Tree Coverage - Light On Site Utilities: Electric Separate; Heating Common; Hot Water Common Owner Pays: Fuel; Hot Water; Insurance; Lawn; Lawn; Snow Removal; Trash Collection Parking Characteristics: Gravel Lot Pool Description: None Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Asphalt Shingles; Pitched Sewer: City Sewer/Connected Stories: Three Or More Tenant Pays: Broadband; Electricity; Telephone Topography: Level Wall Description: Drywall Water: City Water/Connected

Contract Information

Off Market Date: 2024-10-05
Closed Date: 2025-04-04
Sales Close Price: 875000
Contingency: None
ListPrice: 875000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 1173
Street Name: Dewey
Postal City: Wabasso
County: Redwood
State: MN
Zip Code: 56293
Complex/Dev/Subdivision: Park View Acres

Assessments

Tax With Assessments: 5894
Assessment Balance: 0

Building Information

Building Finished SqFt: 18000
Building SqFt: 18000
Ceiling Height: 8-10

More Information

Income and Expenses

Annual Caretaker Expense: 3600
Annual Electric Expense: 6000
Annual Fuel Expense: 16000
Annual Gross Expenses: 84086
Annual Gross Income: 154133
Annual Insurance Expense: 8500
Annual Maintenance Expense: 2000
Annual Net Income: 70047
Annual Repair Expense: 5000
Annual Trash Expense: 1706
Annual Water/Sewer Expense: 7200
Total Annual Expenses: 84085

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building, Land, Leases, Rental License

Unit 1

No. of 1 Bedroom Units: 28

Unit Details

Total Units: 28

Office/Member Info

Association: SPAAR

Location, Tax and Other Information

Legal Description: PARK VIEW ACRES S 24' LOT 1; S 24' OF W 15' LOT 2 & ALL LOTS 9 & 10
Listing City: Wabasso
Map Page: 999
Municipality: Wabasso
School District: Wabasso
School District Phone: 507-342-5114
Zip Plus 4: 1935
Property ID Number: TBD
Tax Year: 2024
Tax Amount: 5894
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: HERITAGE PRAIRIE, LOCATED IN WABASSO, MINNESOTA, IS THE NICEST & MOST WELL-MAINTAINED APARTMENT BUILDING IN A 30-MILE RADIUS. THIS PROPERTY OFFERS INVESTORS AN OPPORTUNITY TO ADD VALUE THROUGH STABILIZATIPON AND LEASE RENEWALS. THE LAUNDRY ROOMS ARE UPDATED & THERE IS A COMMUNITY ROOM WITH A FULL KITCHEN! CURRENT IN PLACE CAP RATE 8%
Directions: Wabasso MN - Main Street to Highway and go north to Dewey Street and go east to Property

Accessible

Accessible Elevator Installed: Yes
Fully Wheelchair: Yes
Grab Bars In Bathroom: Yes
Partially Wheelchair: Yes

Air Conditioning

Wall Unit(s): Yes

Amenities Shared

Coin-op Laundry Owned: Yes
Common Garden: Yes
Deck: Yes
Elevator(s): Yes
Patio: Yes
Security Building: Yes

Amenities Unit

Cable: Yes
Ceiling Fan(s): Yes

Appliances

Range: Yes
Refrigerator: Yes

Assumable Loan

Not Assumable: Yes

Basement

None: Yes

Construction Materials

Frame: Yes

Construction Status

Previously Owned: Yes

Exterior

Brick/Stone: Yes

Financing Terms

Conventional: Yes

Flooring

Carpet: Yes
Luxury Vinyl Plank: Yes
Tile: Yes

Foundation

None: Yes

Fuel

Propane: Yes

Heating

Boiler: Yes

Internet Options

Cable: Yes

Lot Description

Tree Coverage - Light: Yes

Owner Pays

Fuel: Yes
Hot Water: Yes
Insurance: Yes
Lawn: Yes
Snow Removal: Yes
Trash Collection: Yes

Parking Characteristics

Gravel Lot: Yes

Patio, Porch and Deck Features

Terrace: Yes

Pool Description

None: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Age Over 8 Years: Yes
Asphalt Shingles: Yes
Pitched: Yes

Sewer

City Sewer/Connected: Yes

Stories

Three Or More: Yes

Topography

Level: Yes

Wall Description

Drywall: Yes

Water

City Water/Connected: Yes

No. of Ranges

One Per Unit: Yes

No. of Refrigerators

One Per Unit: Yes

Tenant Pays

Broadband: Yes
Electricity: Yes
Telephone: Yes

On Site Utilities

Electric Separate: Yes
Heating Common: Yes
Hot Water Common: Yes

CMU Style

Apartments/Multi Family: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Rent Rate per Foot

Per Month: Yes