NOT LISTED FOR SALE

31 Marks Dr Silver Bay, MN 55614

40 Beds
32 Baths
17,924 Sq Ft
1.27 Acre Lot

Sale Details

Date 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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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) 310-7790

    182 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

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Listings courtesy of Lake Superior Area REALTORS® as distributed by MLS GRID

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