$300,000
$349,900
14.3%For more information regarding the value of a property, please contact us for a free consultation.
523 NW 7th AVE Grand Rapids, MN 55744
3,720 SqFt
Key Details
Sold Price $300,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 3,720 sqft
Price per Sqft $80
Subdivision Grand Rapids Second Div
MLS Listing ID 6130442
Sold Date 10/13/23
Year Built 1950
Annual Tax Amount $5,370
Tax Year 2021
Contingent None
Lot Size 0.410 Acres
Acres 0.41
Lot Dimensions 10725
Property Description
Variance Approved for 7 more units , total of 9 possible units! Great potential in this multifamily apartment building. 17,800 total square feet. Great GR location close to parks, shopping, and amenities. With some sweat equity and vision, this can be a tremendous investment opportunity. 2 units are finished and have been rented for years at $2,750 total per month. Remaining build-out could potentially have 7 more units. View supplement info for renderings on the potential layout. Much of the infrastructure has been completed water/sewer/electric is set up in the building. Zoned LB so some possible commercial applications also.
Location
State MN
County Itasca
Zoning Residential-Multi-Family,Other
Rooms
Basement Block, Concrete, Partially Finished, Unfinished
Interior
Heating Baseboard
Fireplace No
Exterior
Garage On-Street Parking Only, Paved
Roof Type Asphalt
Building
Lot Description Corner Lot
Story One and One Half
Foundation 6056
Sewer City Sewer/Connected
Water City Water/Connected, City Water - In Street
Level or Stories One and One Half
Structure Type Brick/Stone
New Construction false
Schools
School District Grand Rapids
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