Sold: Renville MLS# 6492628
1 / 1
Sold
$369,000 (list price)
$379,000
Commercial: Apartments
Built 1975
0.85 acres
Renville county West schools
MLS# 6492628
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Property Description
Calling all investors! Rare opportunity to purchase a well maintained 8 unit apartment with 9 stall garage. All units are rented on 3 month leases, with many long term renters. Owners have done updates throughout. Many units have updated kitchens and bathrooms. In some, the tub has been replaced with a new walk-in shower. Roof on apartment and garage was put on ~2015, boiler was new ~5 years ago (dual purpose for building heat and hot water supply to units), new windows in 2004. Renville, MN has a lot of industry and typically above average demand for rental housing.
Listing
Listing Status:
Sold
Contingency:
None
List Price:
$369,000
Sold Price:
$379,000
Sold Date:
04/01/2024
Property Type:
Commercial
City:
Renville
Garage Spaces:
9
County:
Renville
Year Built:
1975
State:
MN
Property Style:
Apartments
Zip Code:
56284
Subdivision Name:
Barnards Sub
Interior
Appliances Included:
- Range
- Refrigerator
Exterior
Stories:
Two
Garage Spaces:
9
Garage Dimensions:
24x98
Garage Size:
2,352 ft2
Other Parking Spaces:
10
Air Conditioning:
Wall Unit(s)
Foundation Size:
3,381 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Boiler
Parking Features:
- Detached
- Gravel
- On-Street Parking Only
Shared Amenities:
- Coin-op Laundry Owned
- Patio
Road Frontage:
- City Street
- Paved Streets
Exterior Material:
- Brick/Stone
- Vinyl Siding
Roof Details:
Asphalt
Lot & Land
Acres:
0.85
Geolocation:
44.785374, -95.207886
Inclusions:
Building, Fixture/Equipment, Land
Lot Dimensions:
161 x 230
Zoning:
Residential-Multi-Family
Lot Description:
Corner Lot
Farm
Topography:
Level
Schools
School District:
2890
District Phone:
320-329-8362
Expenses
Annual Electric Expense:
$1,645
Annual Fuel Expense:
$2,185
Annual Insurance Expense:
$6,560
Annual Maintenance Expense:
$534
Annual Gross Expense:
$17,582
Annual Trash Expense:
$85
Annual Water/Sewer Expense:
$3,740
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2023
Annual Taxes:
$4,570
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$4,570
Income
Annual Gross Income:
$51,300
Rent
Annual Net Income:
$33,718
Units
Total Units:
8
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
| 2026 | $3,225 | $20,398 | $23,623 | $299,975 |
| 2027 | $3,450 | $20,173 | $23,623 | $296,525 |
| 2028 | $3,691 | $19,932 | $23,623 | $292,834 |
| 2029 | $3,948 | $19,675 | $23,623 | $288,886 |
| 2030 | $4,223 | $19,399 | $23,623 | $284,663 |
| 2031 | $4,518 | $19,105 | $23,623 | $280,145 |
| 2032 | $4,833 | $18,790 | $23,623 | $275,312 |
| 2033 | $5,170 | $18,453 | $23,623 | $270,142 |
| 2034 | $5,530 | $18,092 | $23,623 | $264,612 |
| 2035 | $5,916 | $17,707 | $23,623 | $258,695 |
| 2036 | $6,329 | $17,294 | $23,623 | $252,367 |
| 2037 | $6,770 | $16,853 | $23,623 | $245,597 |
| 2038 | $7,242 | $16,381 | $23,623 | $238,355 |
| 2039 | $7,747 | $15,876 | $23,623 | $230,608 |
| 2040 | $8,287 | $15,335 | $23,623 | $222,320 |
| 2041 | $8,865 | $14,758 | $23,623 | $213,455 |
| 2042 | $9,483 | $14,139 | $23,623 | $203,971 |
| 2043 | $10,145 | $13,478 | $23,623 | $193,827 |
| 2044 | $10,852 | $12,771 | $23,623 | $182,974 |
| 2045 | $11,609 | $12,014 | $23,623 | $171,365 |
| 2046 | $12,419 | $11,204 | $23,623 | $158,947 |
| 2047 | $13,285 | $10,338 | $23,623 | $145,662 |
| 2048 | $14,211 | $9,412 | $23,623 | $131,451 |
| 2049 | $15,202 | $8,421 | $23,623 | $116,249 |
| 2050 | $16,262 | $7,361 | $23,623 | $99,987 |
| 2051 | $17,396 | $6,227 | $23,623 | $82,591 |
| 2052 | $18,609 | $5,014 | $23,623 | $63,982 |
| 2053 | $19,907 | $3,716 | $23,623 | $44,075 |
| 2054 | $21,295 | $2,328 | $23,623 | $22,780 |
| 2055 | $22,780 | $843 | $23,623 | $0 |
Local Home Mortgage Professionals
651-253-2144
Jason & Kim Stone
Branch Manager & Co-Branch Manager
Fairway Mortgage NMLS#1018649
Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
It would be our pleasure to assist you with your home purchase!
Listing provided by RMLS,
courtesy of Legacy Land & Home.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.