For Sale: Grand Rapids MLS# 6550879
Active
$630,000
Multi-family: Triplex
Built 1985
3,536 sqft • 1.14 acres
Grand Rapids schools
MLS# 6550879
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Property Description
Unique, multi-family, lakeshore property in the heart of Grand Rapids! This triplex sits on 1+ acres of beautifully manicured grounds including a creek and 318ft of frontage on Crystal (Ice) Lake. Units 1 & 3 feature private decks overlooking the lake, while Unit 2 has a walk-out, covered patio. Units 1 & 2 have 2 bedrooms and 1 full bath each and share a 2-stall, divided garage. The larger, split-level Unit 3 has 3 bedrooms and 2 full baths with an oversized 2-stall garage. All units are currently rented to tenants who hope to stay with new ownership. This beautiful property includes a dock, walking bridge over the creek, and ample guest parking. The location cannot be beat, across the street from Yanmar Ice Arena, 1/2 mile from the Mesabi biking trailhead, near numerous parks/recreation areas, and across the lake from the Itasca County fairgrounds. Enjoy the many year-round festivals and events Grand Rapids has to offer. Don't miss this one-of-a-kind investment opportunity in a prime Northwoods location!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$630,000
Price per sq ft:
$178
Property Type:
Multi-family
City:
Grand Rapids
Garage Spaces:
4
County:
Itasca
Year Built:
1985
State:
MN
Property Style:
Triplex
Zip Code:
55744
Subdivision Name:
Kearneys 1st Add To Gr
Interior
Finished Area:
3,536 ft2
Living Area:
3,536 ft2
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Basement Details:
- Egress Window(s)
- Finished
- Full
- Walkout
Exterior
Stories:
Two
Garage Spaces:
4
Garage Size:
1,148 ft2
Foundation Size:
1,714 ft2
Fencing:
None
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Baseboard
Parking Features:
- Asphalt
- Detached
- Garage Door Opener
- Gravel
- Multiple Garages
- Shared Driveway
- Storage
Shared Amenities:
- Dock
- Patio
Road Frontage:
- City Street
- Paved Streets
- Sidewalks
- Unpaved Streets
Exterior Material:
- Fiber Board
- Fiber Cement
Roof Details:
- Age 8 Years or Less
- Architectural Shingle
Lake & Waterfront
Waterfront Present:
Y
Waterfront Name:
Ice
Waterfront View:
East, Lake
DNR Lake ID#:
31037200
WF Frontage:
318
Elev Highpt to WF feet:
0-4
Waterfront Slope:
Level
Lake Chain Name:
N
Lake Acres:
38
Lake Depth:
53
Waterfront:
- Creek/Stream
- Dock
- Lake Front
- Lake View
Lake Bottom:
- Hard
- Reeds
- Sand
Lot & Land
Acres:
1.14
Geolocation:
47.246621, -93.532282
Lot Dimensions:
Irregular
Zoning:
Residential-Multi-Family
Lot Description:
- Accessible Shoreline
- Tree Coverage - Medium
Farm
Topography:
Level, Walkout
Schools
School District:
318
District Phone:
218-327-5704
Expenses
Annual Electric Expense:
$4,399
Annual Insurance Expense:
$2,650
Annual Maintenance Expense:
$1,386
Annual Gross Expense:
$10,667
Annual Trash Expense:
$342
Annual Water/Sewer Expense:
$1,890
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$6,684
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$6,684
Income
Annual Gross Income:
$53,700
Units
Total Units:
3
Miscellaneous
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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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 Coldwell Banker Realty.
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.