NOT LISTED FOR SALE

31 Marks Dr Silver Bay, MN 55614

40 Beds
32 Baths
17,924 Sq Ft
55,321 Sq Ft

Last Sold January 31, 2019

Last sale price $611,000 $34 Per Sq Ft

15 Days on Market

Highlights

  • 15 Car Detached Garage
  • Coin Laundry
  • Community Storage Space
  • Laundry Room
  • Elevated Lot
  • Heating Available

About This Home

As of January 2019

VERY well maintained 16 unit apartment building with detached garages in Silver Bay built in 1978 with 100% occupancy and waiting list. All city utilities. What an opportunity to invest in rental property on the North Shore - in an area where there are few! 8-2 bdrm and 8-3 bdrm units plus 15 detached garage stalls. Lender approval letter required with all offers.

Last Agent to Sell the Property

Kurt Johnson

Gables & Ivy Real Estate Listed on: 11/15/2018

Last Buyer's Agent

Lynn Marie Nephew

RE/MAX Results

RE/MAX Results

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,288

Year Built

  • Built in 1978

Lot Details

  • 1.27 Acre Lot
  • Lot Dimensions are 426x130
  • Elevated Lot

Parking

  • 15 Car Detached Garage
  • Shared Driveway

Home Design

  • Concrete Foundation
  • Wood Frame Construction
  • Asphalt Shingled Roof
  • Metal Siding

Interior Spaces

  • 17,924 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 40 Bedrooms
  • 32 Bathrooms

Laundry

  • Laundry Room
  • Washer and Dryer Hookup

Unfinished Basement

  • Partial Basement
  • Drainage System
  • Basement Storage

Utilities

  • Heating Available
  • Electric Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for internet service, cable TV, electric
  • Assessor Parcel Number 22-7520-30270

Community Details

Overview

  • 16 Units

Amenities

  • Coin Laundry
  • Community Storage Space

Building Details

  • Maintenance Expense $6,210
  • Manager Expense $6,000
  • Utility Expense $14,955

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,288

Year Built

Built in 1978

Lot Details

1.27 Acres

Parking

15

Listing Details

  • Class: MULTI-FAMILY
  • Directions: To Silver Bay, Outer Drive to left on County Rd 11, to left on Law Drive and turns into Marks Drive to property on left
  • InternetOptions: Cable
  • L O1 Office Phone1 Number: 218-730-0300
  • Tax Year: 2018
  • Lot Description Waterfront: No
  • ApxYrMaintenanceExp: 6210
  • ApxYrManagementExp: 6000
  • ApxYrUtilityExp: 14955
  • CondoPropertyType: Other
  • Mfg And Park Info Construction Type: Frame/Wood
  • FinFootageAboveGrade: 17924
  • Garage Type: Detached
  • Heat: Electric
  • Laundry: Coin Operated Owned, Separate Room, Shared
  • Parking Number Garage Spaces: 15
  • Reso Roof: Asphalt Shingles
  • TotalBedrooms: 40
  • MediaType: 11+ Units
  • Year Built: 1978
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement Features: Drainage System, Unfinished, Owner Access, Storage, Washer Hook-Ups, Dryer Hook-Ups
  • Basement Material: Concrete Block
  • Basement Style: Partial
  • Stories: 2 Story
  • Total Bathrooms: 32
  • Total Fin Square Footage: 17924

Exterior Features

  • Road Frontage: City, Curb/Gutters, Sidewalk
  • Exterior: Metal

Garage/Parking

  • Parking Driveway: Driveway - Shared, Driveway - Asphalt

Utilities

  • Power Company: Minnesota Power
  • Sewer: City
  • Water: City

Condo/Co-op/Association

  • Shared: Storage

Schools

  • Junior High Dist: Lake Superior #381

Lot Info

  • Estimated Lot Dimensions: 426x130
  • Estimated Number of Acres: 1.27
  • Cultivated Acreage: LSAR
  • Geo Subdivision: MN
  • Lot Description: High
  • Parcel Number: 22-7520-30270

Rental Info

  • Lease Terms: Cash, Conventional
  • Tenant Expense: Internet Service, Cable TV, Electric

Tax Info

  • Tax Amount: 7288
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Property History

Date Event Price List to Sale Price per Sq Ft
01/31/2019 01/31/19 Sold $611,000 -9.5% $34 / Sq Ft
11/30/2018 11/30/18 Pending -- -- --
11/15/2018 11/15/18 For Sale $675,000 -- $38 / Sq Ft
Source: Lake Superior Area REALTORS®

Agents Affiliated with this Home

  • K

    Seller's Agent in 2019

    Kurt Johnson

    Gables & Ivy Real Estate

    (218) 393-5263

    47 Total Sales

    Kurt Johnson
    Section Image

  • L

    Buyer's Agent in 2019

    Lynn Marie Nephew

    RE/MAX

    (218) 722-2810

    187 Total Sales

    Lynn Marie Nephew
    Section Image
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Map

Source: Lake Superior Area REALTORS®

MLS Number: 6079710

Minnesota Lake County Silver Bay 55614

31 Marks Dr, Silver Bay, MN

Not Listed for Sale

MultiFamily

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