For Sale: Melrose MLS# 7149205
Active
NEW!
$1,050,000
Commercial: 2 Stories
Built 1995
0.86 acres
Melrose schools
MLS# 7149205
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Property Description
Excellent opportunity to acquire a 100% occupied, professionally managed, 12-unit multi-family property at Country Club Estates in Melrose. The property features an attractive unit mix of 10 - two bedroom, two bath units and 2 - one bedroom, one bath plus den units. Each apartment includes an attached garage as part of the monthly rent, providing a desirable tenant amenity. Tenants are responsible for electric, including hot water, while the landlord pays cold water, sewer and refuse. Additional income is generated through on-site coin operated laundry. Significant recent capital improvements include new roofing and siding completed in 2025. Conveniently located near I-94 in the town of Melrose, approximately 30 minutes from both the St. Cloud metro and Alexandria Lakes Area, providing convenient access to two of Central Minnesota's key regional markets. This fully occupied, professionally managed multi-family investment offers a strong unit mix, tenant-paid utilities, attached garages, additional laundry income, and substantial recent exterior improvements. This building is located just a couple blocks from Meadowlark Country Club & Golf Course.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,050,000
Property Type:
Commercial
City:
Melrose
Garage Spaces:
12
County:
Stearns
Year Built:
1995
State:
MN
Property Style:
2 Stories
Zip Code:
56352
Subdivision Name:
Meadowlark Acres II
Interior
Refrigerators:
One Per Unit
Exterior
Stories:
Two
Garage Spaces:
12
Foundation Size:
6,840 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Baseboard
Parking Features:
- Asphalt
- Attached Garage
- Multiple Garages
- Parking Lot
- Paved Lot
Road Frontage:
- City Street
- Paved Streets
Exterior Material:
Frame
Pool:
None
Roof Details:
- Age 8 Years or Less
- Architectural Shingle
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.86
Geolocation:
45.664729, -94.816767
Inclusions:
Building, Land
Lot Dimensions:
124 x 300
Zoning:
Residential-Multi-Family
Farm
Topography:
Level
Schools
School District:
740
District Phone:
3202564224
Expenses
Tenant Expenses:
Electricity, Heat, Hot Water
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$12,578
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$12,578
Income
Annual Gross Income:
$133,851
Rent
Annual Net Income:
$76,173
Units
Total Units:
12
Miscellaneous
Current Use:
Other
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
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 Edina Realty, Inc.
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.