For Sale: Morris MLS# 7139837
Active
NEW!
$4,400,000
Commercial: 2 Stories
Built 1970
6.27 acres
Morris Area schools
MLS# 7139837
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Property Description
Nature's Edge Apartments offers the opportunity to acquire an 88-unit market-rate multifamily community in Morris, Minnesota, approximately two miles from the University of Minnesota Morris. The five-building property is situated on approximately 6.27 acres and was substantially renovated in 2002. The unit mix includes 64 one-bedroom, 16 two-bedroom, and 8 three-bedroom apartments. Property amenities include laundry facilities in each building, a fitness center, community space, playground, green space, and surface parking. Potential value-add opportunities include rental of the office apartment, improvements or alternative use of community space, parking enhancements, potential garage development, and a conceptual land split.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$4,400,000
Property Type:
Commercial
City:
Morris
Garage Spaces:
2
County:
Stevens
Year Built:
1970
State:
MN
Property Style:
2 Stories
Zip Code:
56267
Exterior
Stories:
Two
Garage Spaces:
2
Garage Dimensions:
30x40
Garage Size:
1,200 ft2
Air Conditioning:
Wall Unit(s)
Foundation Size:
28,831 ft2
Handicap Accessible:
None
Heating System:
Hot Water
Parking Features:
- Detached Garage
- Parking Lot
Pool:
None
Roof Details:
Rubber
Rooms
Shared Rooms:
- Community Room
- Exercise Room
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
6.27
Geolocation:
45.5901594402, -95.929783049
Inclusions:
Building, Fixture/Equipment, Land, Leases
Lot Dimensions:
540 x 600
Addl Parcels:
201183000, 201647002, 201654001
Zoning:
Residential-Multi-Family
Schools
School District:
2769
District Phone:
3205894840
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$6,756
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$7,096
Income
Annual Gross Income:
$910,920
Rent
Annual Net Income:
$429,155
Units
Total Units:
88
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Granite City Real Estate.
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.