4011 4Th StLake Park, MN 56554
12-Unit Multifamily Investment
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 116
Highlights
- Excellent investment opportunity: 12-unit apartment building in Lake Park, MN, situated between Detroit Lakes and Fargo, ND.
- Strong current annual gross income of $111,600, with market potential of $125,500.
- 9.36% cap rate, and a pro-forma cap rate of 10.69% with increased income.
- Seller offering a $10,000 credit towards buyer closing costs.
- Property includes 11 two-bedroom/one-bathroom units and one one-bedroom/one-bathroom unit, six garage stalls, and a parking lot.
Property Details for 4011 4Th St
- Property type
- Apartment buildings
- Square Feet
- 11,928 SF
- Class
- B
- Year Built
- 1968
- Buildings
- 1
- Stories
- 2
- Lot Size (sq. ft)
- 22,651 SF
- Units
- 12
Location Insight
- City
- Lake Park
- County
- Becker
- State
- Minnesota
- Latitude
- 46.889541070298
- Longitude
- -96.097619279803
FAQs
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