Address
1020 3rd Street Farmington, MN
Price
$ 1,800,000
Property Attributes
  • ID#5759427
  • TypePending
  • CountyDAKOTA
  • CityFarmington
  • AreaShepleys Add
  • Zip55024
  • StyleApartment
  • Year Built1965
  • Taxes$ 24424
  • Price$ 1,800,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage18372
  • Lot Size0.5 Acres
Listing Provided Courtesy Of:
Apartment Cash Flow, Inc.
Data Source:
Northstar MLS (NSTAR) - 133 - MN
Property Description

THIS PROPERTY IS CURRENTLY IN YEAR 3 OF A 10 YEAR RESTRICTIVE PERIOD FOR AFFORDABLE HOUSING. PLEASE ALLOW TIME TO SCHEDULE ANY SHOWINGS WITH THE LISTING BROKER AND ONLY SERIOUS BUYERS PLEASE!! HISTORICAL FINANCIALS AND RENT ROLL PROVIDED UPON REQUEST.

Price History
5/18/2021 Listed $1,800,000

General Features

Accessibility None
Additional Parcels Y/N No
Appliances Range, Refrigerator
Association Amenities Patio, Coin-op Laundry Owned, Security
Basement Full, Finished, Egress Window(s)
City Farmington
Construction Materials Brick/Stone
Contingency None
Cooling Wall Unit(s)
County Dakota
Current Use Residential
Days on Market 23
Directions 35 South to 215th St. W. / Go East to Cedar Ave. / North to 212th St. W. / Go East to 3rd Street and South 7 blocks to Property
Electric Expense 1000
Fuel Expense 8000
Garage Spaces 15
Grossincome 179138.16
Heating Hot Water
High School District Farmington
Insurance Expense 4800
Lender Owned No
Levels Two
Maintenanceexpense 2000
Net Operating Income 111412.82
Operatingexpense 67725.34
Ownerpays Taxes, Insurance, Water, Fuel, Repairs, Trash Collection, Snow Removal, Grounds Care
Property SubType Apartment
Property Type Commercial Sale
Roof Flat, Age Over 8 Years
Sewer City Sewer/Connected
Standard Status Pending
Street Name 3rd
Subdivision Name Shepleys Add
Tax Annual Amount 24424
Tax Year 2021
Tenant Pays Electricity, Cable TV
Total Units 17
Trash Expense 2222.8
Utilities Heating Common, Electric Separate, Hot Water Common
Water Sewer Expense 2228.54
Year Built 1965
Zoning Description Residential-Multi-Family

Interior Features

Street Suffix Street
Unit Type Efficiencies, 1 Bedroom, 2 Bedroom, 3 Bedroom, One Room, Two Room, Three Room, Four Room, Five Room, Six Room, Seven Room

Exterior Features

Foundationarea 6124
Inclusions Building, Land, Leases, Rental License
Lot Dimensions 127 x 171
Lot Features Corner Lot, Tree Coverage - Light, Public Transit (w/in 6 blks)
Lot Size Area 0.5
Lot Size Units Acres
Parking Features Detached, Asphalt
Road Frontage Type City Street
Road Responsibility Public Maintained Road
Water Source City Water/Connected
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 55024

Price
AVG $400K
$1.8M
Taxes
AVG $3,153
$24,424
Visits
AVG 42
36
Year Built
AVG 2003
1965

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