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Christopher Schmidt

chris@theschmidt-group.com +1(507) 218-6254

$ 225,900

Est. payment -/mo

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New

200 NE Hwy 1 Effie, MN 56639

8 Beds

6 Baths

0.51 Acres Lot

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 7141188

Bedrooms 8

Year Built 1962

Annual Tax Amount $1,399

Tax Year 2026

Contingent None

Lot Size 0.510 Acres

Lot Dimensions .51 acres

Property Description

Investment opportunity in Effie! This well-maintained six-unit apartment complex sits on .51 acres along Hwy 1 and offers a strong, established rental history. Currently fully occupied, the property has several long-term tenants with all units on month-to-month leases. Apartments are nicely updated and well cared for, with the efficiency unit typically seeing the most turnover. Property features include a new shingled roof, flat roofs replaced approximately two years ago, shared coin-operated laundry, patio area, raised garden beds, and ample parking with designated spaces and electrical plug-ins. Utilities are included in the rent, while tenants are responsible for their own TV and internet. With a history of excellent occupancy and consistent tenant demand, this is an attractive income-producing asset for investors. Financial information available upon request to pre-qualified buyers.

Location

State MN

County Itasca

Zoning Residential-Multi-Family

Rooms

Family Room Other

Basement Finished

Interior

Heating Baseboard, Forced Air

Cooling Central Air

Inclusions Building, Business, Fixture/Equipment, Land, Leases

Fireplace No

Appliance Range, Refrigerator

Exterior

Parking Features Parking Lot

Utilities Available Electric Common, Heating Common, Hot Water Common

Roof Type Architectural Shingle,Flat,Metal

Present Use Residential

Building

Story Two

Foundation 2256

Sewer City Sewer/Connected

Water Drilled

Level or Stories Two

Structure Type Brick,Frame

New Construction false

Schools

School District Grand Rapids

Listed by Cathy Carlson • COLDWELL BANKER NORTHWOODS

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