NOT LISTED FOR SALE

437 2nd Ave E Ely, MN 55731

2 Beds
1 Bath
11,023 Sq Ft
0.46 Acres

Last Sold December 16, 2022

Last sale price $345,000 $31 Per Sq Ft

55 Days on Market

Highlights

  • Multiple Garages
  • 0.46 Acre Lot
  • Corner Lot
  • Memorial High School Rated 9+
  • Wood Flooring
  • No HOA

About This Home

As of December 2022

Multi unit rental bldgs in Ely. Great long term / strong rental history. Seven garage spaces available, large 125x162 lot. Six apartment units with two floors have approximately 1152 sq ft each (not including the basement) and the home unit that is a ranch style home features 759 sqt ft (not including the basement). All units feature two large bedrooms, spacious living room, eat in kitchen, some with breakfast bars or islands. Updates included fresh paint, flooring, private basements with own laundry facilities, blinds, hardwood floors, an appliances. Two units have propane gas and the others have forced air fuel oil. Convenient location in Ely you not only have potential for rent increases, but you could live in the ranch home as well. Well maintained and lovingly cared. With the high demand of rental units, here's one to take a serious look at with minimal work required due to the excellent maintenance these units have had.

Last Agent to Sell the Property

Andrea Zupancich

Z' Up North Realty Listed on: 09/01/2022

Last Buyer's Agent

Joseph Tome

Grand Properties

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,621

Year Built

  • Built in 1930

Lot Details

  • 0.46 Acre Lot
  • Lot Dimensions are 125x162
  • Corner Lot

Parking

  • 7 Car Detached Garage
  • Multiple Garages

Home Design

  • Concrete Foundation
  • Wood Frame Construction
  • Asphalt Shingled Roof
  • Cement Board or Planked

Interior Spaces

  • 2-Story Property
  • Woodwork
  • Lower Floor Utility Room
  • Wood Flooring
  • Unfinished Basement
  • Basement Fills Entire Space Under The House

Kitchen

  • Eat-In Kitchen
  • Range

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Laundry

  • Dryer
  • Washer

Outdoor Features

  • Patio

Utilities

  • Forced Air Heating System
  • Heating System Uses Oil
  • Heating System Uses Propane

Community Details

  • No Home Owners Association
  • 7 Units

Listing and Financial Details

  • Tenant pays for internet service, cable TV, electric, trash, water, fuel, sewer
  • Assessor Parcel Number 030-0050-02340

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,621

Year Built

Built in 1930

Lot Details

0

Parking

7

Listing Details

  • Class: MULTI-FAMILY
  • Directions: in town
  • L O1 Office Phone1 Number: 218-827-2288
  • Taxes With Assessments: 3796
  • Tax Year: 2021
  • Lot Description Waterfront: No
  • Amenities3: Eat-In Kitchen, Hardwood Floors, Natural Woodwork
  • Amenities4: Eat-In Kitchen, Hardwood Floors
  • Amenities Exterior: Patio
  • Appliances 1: Dryer, Range/Stove, Refrigerator, Washer
  • CondoPropertyType: Multiple Buildings
  • Mfg And Park Info Construction Type: Frame/Wood
  • FinFootageAboveGrade: 7671
  • Below Grade Finished Sq Ft: 3352
  • Garage Type: Detached, Multiple
  • Heat: Forced Air, Propane, Oil
  • Parking Number Garage Spaces: 7
  • Reso Roof: Asphalt Shingles
  • TotalBedrooms: 2
  • MediaType: Multi-Family
  • Year Built: 1930
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement Features: Unfinished, Utility Room, Washer Hook-Ups, Dryer Hook-Ups
  • Basement Material: Concrete Block
  • Basement Style: Full
  • Unit Features:Fireplace4: No
  • Stories: 2 Story
  • Total Bathrooms: 1
  • Total Fin Square Footage: 11023

Exterior Features

  • Construction Status: Previously Owned
  • Exterior: Cement Board

Utilities

  • Power Company: City Of Ely
  • Sewer: City
  • Water: City

Condo/Co-op/Association

  • Association Fee: No

Association/Amenities

  • AmenitiesOtherAmenities1: Eat-In Kitchen
  • Association Fees Include:Amenities2: Eat-In Kitchen, Hardwood Floors

Schools

  • Junior High Dist: Ely #696

Lot Info

  • Estimated Lot Dimensions: 125x162
  • Estimated Number of Acres: 0.46
  • Cultivated Acreage: LSAR
  • Geo Subdivision: MN
  • Lot Description: Corner Lot
  • Parcel Number: 030-0050-02340

Rental Info

  • Lease Terms: Cash, Conventional
  • Tenant Expense: Internet Service, Cable TV, Electric, Trash, Water, Fuel, Sewer

Tax Info

  • Tax Amount: 3621
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/16/2022 12/16/22 Sold $345,000 0.0% $31 / Sq Ft
12/16/2022 12/16/22 Sold $345,000 -19.6% $22 / Sq Ft View Prior Sale
11/11/2022 11/11/22 Pending -- -- --
10/26/2022 10/26/22 Pending -- -- --
09/02/2022 09/02/22 For Sale $429,000 0.0% $28 / Sq Ft
09/01/2022 09/01/22 For Sale $429,000 +24.3% $39 / Sq Ft
05/30/2022 05/30/22 Off Market $345,000 -- --
03/01/2022 03/01/22 For Sale $429,000 +24.3% $28 / Sq Ft
03/01/2022 03/01/22 Off Market $345,000 -- --
08/12/2021 08/12/21 For Sale $429,000 -- $28 / Sq Ft
Source: Lake Superior Area REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $7,198 $337,600 $22,200 $315,400
2023 $7,198 $310,800 $21,500 $289,300
2022 $3,868 $189,100 $20,000 $169,100
2021 $3,796 $159,100 $18,200 $140,900
2020 $3,442 $142,800 $18,200 $124,600
2019 $3,248 $142,800 $18,200 $124,600
2018 $3,122 $137,000 $18,200 $118,800
2017 $3,186 $132,100 $24,100 $108,000
2016 $3,274 $126,800 $22,000 $104,800
2015 $3,157 $132,400 $24,400 $108,000
2014 $3,157 $132,400 $24,400 $108,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Lake Superior Area REALTORS®

MLS Number: 6105247

APN: 030-0050-02340