605 Main Street, Tower, MN 55790 (MLS# 7046763)

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront Present: No
Year Built: 1982
Yearly/Seasonal: Yearly
Zoning: Residential-Single Family
Main Floor Total SqFt: 1488
Above Ground SqFt: 4464
Total SqFt: 4464
Foundation Size: 2979
Style: (MF) Four Plex
Total Finished Sqft: 4464.00
Lot Dimensions: 140x50
Acres: 0.16
Assessment Pending: No
Below Grd Total SqFt: 0
Garage Stalls: 0

Property Features

Accessible: None Basement: None Construction Materials: Block; Concrete; Frame Construction Status: Previously Owned Electric: 200+ Amp Service Existing Financing: Conventional Exterior: Cedar; Wood Foundation: Brick/Mortar; Concrete Block; Slab Fuel: Electric; Other Heating: Boiler Laundry: Other Lock Box Type: Combo Owner Pays: Exterior Maintenance; Grounds Care; Insurance; Lawn; Maintenance/Repair; Sewer; Taxes; Water Parking Characteristics: Gravel Lot; Off Site Sewer: City Sewer - In Street Stories: Two Tenant Pays: Cable TV; Electricity; Telephone; Trash Collection Unit 1 Appliances: Cooktop; Exhaust Fan/Hood; Range; Refrigerator Unit 1 Cooling: Window Water: City Water - In Street

Contract Information

Contingency: None
Original List Price: 329900
ListPrice: 329900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 605
Street Name: Main
Street Suffix: Street
Postal City: Tower
County: St. Louis
State: MN
Zip Code: 55790
Complex/Dev/Subdivision: Tower

Assessments

Tax With Assessments: 758
Assessment Balance: 0
Assessment Installment: 0

Basement

Foundation Dimensions: 2979
None: Yes

More Information

Building Information

Finished SqFt Above Ground: 4464

Income and Expenses

Annual Gross Expenses: 11000
Annual Gross Income: 48000
Annual Insurance Expense: 2818
Annual Maintenance Expense: 500
Annual Water/Sewer Expense: 1530
Misc Monthly Income: 100
Total Annual Expenses: 11000
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Fuel Expense: 0
Annual Repair Expense: 0
Annual Trash Expense: 0
Misc. Annual Income: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

DP Resource: Yes
Homestead: No

Ownership

Fractional Ownership: No

Unit 1

Furnished?: No
Leased?: Yes
Level: Main Level
Unit Number: Yes
Annual Rent: 48000
Finished SqFt: 44
Full Baths: Yes
Monthly Expense: 849
Monthly Rent: 1000
No. of Units Like This: 4
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 8

Unit Details

Total Units: 4

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: LOT: 0015 BLOCK:027
Listing City: Tower
Map Page: 999
Municipality: Tower
School District: St. Louis County
School District Phone: 218-749-8130
Zip Plus 4: 331
Property ID Number: 080001003420
Tax Year: 2025
Tax Amount: 758
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Turn-key 4-plex in the heart of Tower, MN just one block from Lake Vermilion. Great opportunity for owner-occupants or investors. Property features four 2-bedroom, 1-bath units, all separately metered for electricity with tenants paying electric. Currently rented at $1,000/month per unit on month-to-month leases, providing immediate income with flexibility for future rent adjustments. Strong cash-flow potential. Located in a desirable recreation area with close access to boating, fishing, snowmobile and ATV trails right out your door. Historic building with updates throughout. There is a commercial lot that can be purchased next to this property together or separate.
Directions: Hwy 169 to home on left side next to ubetcha

Accessible

None: Yes

Construction Materials

Block: Yes
Concrete: Yes
Frame: Yes

Construction Status

Previously Owned: Yes

Electric

200+ Amp Service: Yes

Existing Financing

Conventional: Yes

Exterior

Cedar: Yes
Wood: Yes

Foundation

Brick/Mortar: Yes
Concrete Block: Yes
Slab: Yes

Fuel

Electric: Yes
Other: Yes

Heating

Boiler: Yes

Laundry

Other: Yes

Lock Box Type

Combo: Yes

Owner Pays

Exterior Maintenance: Yes
Grounds Care: Yes
Insurance: Yes
Lawn: Yes
Maintenance/Repair: Yes
Sewer: Yes
Taxes: Yes
Water: Yes

Parking Characteristics

Gravel Lot: Yes
Off Site: Yes

Public Survey Info

Range#: No
Section#: No
Township#: No

Sewer

City Sewer - In Street: Yes

Stories

Two: Yes

Water

City Water - In Street: Yes

No. of Refrigerators

Four: Yes

Tenant Pays

Cable TV: Yes
Electricity: Yes
Telephone: Yes
Trash Collection: Yes

Unit 1 Appliances

Cooktop: Yes
Exhaust Fan/Hood: Yes
Range: Yes
Refrigerator: Yes

Unit 1 Cooling

Window: Yes