200 NE Hwy 1, Effie, MN 56639 (MLS# 6825838)

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 6
Owner Occupied: No
Waterfront Present: No
Year Built: 1962
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 2256
For Sale or Lease: For Sale
Acres: 0.51
Lot Dimensions: .51 acres
Assessment Pending: Unknown
Garage Stalls: 0

Property Features

Accessible: None Air Conditioning: Central Air Amenities Shared: Coin-op Laundry Owned; Common Garden; Patio Appliances: Range; Refrigerator CMU Style: Apartments/Multi Family Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone; Log Siding Foundation: Concrete Block Fuel: Electric; Propane Heating: Baseboard; Forced Air Loan Terms: Cash; Conventional On Site Utilities: Electric Common; Heating Common; Hot Water Common Owner Pays: See Remarks Parking Characteristics: Parking Lot Rental License Type: Standard Roof: Metal Sewer: City Sewer/Connected Shared Rooms: Other Stories: Two Tenant Pays: Broadband; Cable TV; Insurance; Telephone Water: Drilled

Contract Information

Contingency: None
ListPrice: 244900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 200 NE
Street Name: Hwy 1
Postal City: Effie
County: Itasca
State: MN
Zip Code: 56639

Assessments

Assessment Balance: 405
Tax With Assessments: 1824

Building Information

Building Finished SqFt: 4492
Building SqFt: 4492

More Information

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 26
Section#: 22
Township#: 62

Sale Options

Sale Includes: Building

Unit 1

Unit Number: 101
Full Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: 2
Level: Below Ground
Unit Total SqFt: 836
Leased?: Yes
Lease Expiration Date: 2025-12-01
No. of 1 Bedroom Units: 2

Unit 2

No. of 2 Bedroom Units: 3
Lease Expiration Date: 2025-12-01
Leased?: Yes
Level: Below Ground
Three-Quarter Baths: Yes
Total Bathrooms: Yes
Unit Number: 102
Unit Total SqFt: 400

Unit 3

Lease Expiration Date: 2025-12-01
Leased?: Yes
Level: Main Level
Three-Quarter Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 203

Unit 4

Full Baths: Yes
Lease Expiration Date: 2025-12-01
Leased?: Yes
Level: 2nd Level
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 204
Unit Total SqFt: 612

Unit 5

Lease Expiration Date: 2025-12-01
Leased?: Yes
Level: 2nd Level
Three-Quarter Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: Yes
Unit Number: 305
Unit Total SqFt: 557

Unit 6

Lease Expiration Date: 2025-12-01
Leased?: Yes
Level: 2nd Level
Three-Quarter Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: Yes
Unit Number: 306

Unit Details

Total Units: 6

Unit Information

No. of Efficiency Units: Yes

Office/Member Info

Association: ICBR

Location, Tax and Other Information

Legal Description: ALL LT 5 E 10" OF LT 6
Listing City: Effie
Map Page: 999
Municipality: Effie
School District: Grand Rapids
School District Phone: 218-327-5704
Property ID Number: 904100050
Tax Year: 2025
Tax Amount: 1419
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Turnkey Six-Plex Investment Opportunity. Fully Occupied and Well Maintained. Investor alert! This fully occupied six-unit apartment complex offers a solid, turnkey investment with a strong rental history and consistent occupancy. Each unit is clean, updated, and equipped with central air, providing comfortable living conditions that attract and retain quality tenants. The property features designated parking with individual electric hookups, a coin-operated laundry area for additional income, and a shared outdoor space with a patio and raised garden beds. This well-maintained complex operates at full capacity within a stable rental market, ideal for the seasoned investor or anyone looking to expand their portfolio with a proven, income-producing asset. Qualified buyers only.
Directions: Hwy 38 N to Effie. Right on State Hwy 1 to property on Left.

Accessible

None: Yes

Air Conditioning

Central Air: Yes

Amenities Shared

Coin-op Laundry Owned: Yes
Common Garden: Yes
Patio: Yes

Appliances

Range: Yes
Refrigerator: Yes

Construction Status

Previously Owned: Yes

Exterior

Brick/Stone: Yes
Log Siding: Yes

Foundation

Concrete Block: Yes

Fuel

Electric: Yes
Propane: Yes

Heating

Baseboard: Yes
Forced Air: Yes

Owner Pays

See Remarks: Yes

Parking Characteristics

Parking Lot: Yes

Rental License Type

Standard: Yes

Roof

Metal: Yes

Sewer

City Sewer/Connected: Yes

Shared Rooms

Other: Yes

Stories

Two: Yes

Water

Drilled: Yes

Income and Expenses

Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Fuel Expense: 0
Annual Gross Expenses: 0
Annual Gross Income: 0
Annual Insurance Expense: 0
Annual Maintenance Expense: 0
Annual Net Income: 0
Annual Repair Expense: 0
Annual Trash Expense: 0
Annual Water/Sewer Expense: 0
Total Annual Expenses: 0

No. of Ranges

Six or More: Yes

No. of Refrigerators

Six or More: Yes

Tenant Pays

Broadband: Yes
Cable TV: Yes
Insurance: Yes
Telephone: Yes

On Site Utilities

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

CMU Style

Apartments/Multi Family: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Conventional: Yes