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Active
501 1st ST N Virginia, MN 55792
1,418 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex Up and Down
Listing Status Active
Purchase Type For Sale
Square Footage 1,418 sqft
Price per Sqft $66
Subdivision Virginia
MLS Listing ID 6690399
Year Built 1904
Annual Tax Amount $1,182
Tax Year 2024
Contingent None
Lot Size 3,049 Sqft
Acres 0.07
Lot Dimensions 121x20x7x116x25
Property Sub-Type Duplex Up and Down
Property Description
Turnkey Duplex with Strong Cash Flow – 14.7% Cap Rate! This well-maintained property is a solid investment opportunity with excellent returns. The upper unit features a long-term tenant currently paying $860/month, with potential to increase rent for even greater cash flow. Both units are in good condition, offering clean, comfortable living spaces. The building includes a basement with storage and laundry facilities, and has proven to be very low maintenance over time. Similar 2-bedroom units in the area qualify for Section 8 rents of up to $1,100/month, providing additional income potential. A great addition to any investment portfolio!
Location
State MN
County St. Louis
Rooms
Basement Partial, Stone/Rock, Storage Space
Interior
Heating Boiler
Fireplace No
Exterior
Parking Features Gravel, Parking Lot
Roof Type Asphalt
Building
Story Two
Foundation 709
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Aluminum Siding
New Construction false
Schools
School District Virginia
Listed by Kyle White • RE/MAX Advantage Plus