NOT LISTED FOR SALE

602 7th St S Virginia, MN 55792

14 Beds
10 Baths
6,600 Sq Ft
8,712 Sq Ft Lot

Last Sold December 30, 2021

Last sale price $460,000 $70 Per Sq Ft

175 Days on Market

About This Home

As of December 2021

Attention investors! Look at this chance to purchase a rare 10 unit building with partial seller financing! Well maintained fully occupied 10 unit apartment building with 3 two bedroom units and 7 one bedroom units. This property has upgrades including new roof, new high efficiency heating system, new on demand hot water, and new commercial water softener system. All units have updated interiors and all 10 units have new rear decks and front porches. Steel siding and many new windows throughout. Property has been well managed and is fully occupied with no delinquencies. Rental performance is 5,600/mo with all utilities tenant paid. Rents are below market with significant opportunity to optimize cash flow and value.

Last Agent to Sell the Property

Michael Schraepfer

Heirloom Realty, LLC Listed on: 05/01/2021

Last Buyer's Agent

Nonmember NONMEMBER

Nonmember Office

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,088

Year Built

  • Built in 1907

Lot Details

  • 8,712 Sq Ft Lot
  • Lot Dimensions are 60x130

Parking

  • No Garage

Home Design

  • Poured Concrete
  • Wood Frame Construction
  • Steel Siding

Interior Spaces

  • 6,600 Sq Ft Home
  • 2-Story Property
  • Basement Fills Entire Space Under The House

Bedrooms and Bathrooms

  • 14 Bedrooms
  • 10 Bathrooms

Utilities

  • Boiler Heating System
  • Heating System Uses Natural Gas

Community Details

  • 10 Units
  • Coin Laundry

Listing and Financial Details

  • Tenant pays for internet service, cable TV, electric, trash, water, sewer
  • Assessor Parcel Number 090-0030-07305

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,088

Year Built

Built in 1907

Lot Details

0

Listing Details

  • Class: MULTI-FAMILY
  • Directions: Drive north on highway 53 to Virginia. Turn right on S 2nd Avenue W. Turn left on 7th Street S. Building is 4 blocks down on left side.
  • L O1 Office Phone1 Number: 218-390-4317
  • List Price/ Sq Ft: 69.7
  • Tax Year: 2021
  • Lot Description Waterfront: No
  • CondoPropertyType: Other
  • Mfg And Park Info Construction Type: Frame/Wood
  • FinFootageAboveGrade: 6600
  • Garage Type: None
  • Heat: Boiler, Natural Gas
  • Laundry: Coin Operated Owned, Shared
  • TotalBedrooms: 14
  • MediaType: 5-10 Units
  • Year Built: 1907
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement Material: Poured Concrete
  • Basement Style: Full
  • Stories: 2 Story
  • Total Bathrooms: 10
  • Total Fin Square Footage: 6600

Exterior Features

  • Exterior: Steel

Utilities

  • Power Company: Virginia Public Utilities
  • Sewer: City
  • Water: City

Schools

  • School District: Virginia #706
  • Junior High Dist: Virginia #706

Lot Info

  • Geo Update Timestamp: 2021-05-01
  • Estimated Lot Dimensions: 60x130
  • Estimated Number of Acres: 0.2
  • Cultivated Acreage: LSAR
  • Geo Subdivision: MN
  • Parcel Number: 090-0030-07305

Rental Info

  • Tenant Expense: Internet Service, Cable TV, Electric, Trash, Water, Sewer

Tax Info

  • Tax Amount: 4088

Range of Values:

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Average Value
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List Price
Sold Price
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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 Change Sq Ft Price
12/30/2021 12/30/21 Sold $460,000 -16.2% $70 / Sq Ft
10/23/2021 10/23/21 Pending -- -- --
05/01/2021 05/01/21 For Sale $549,000 -- $83 / Sq Ft
Source: Lake Superior Area REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2021

    Michael Schraepfer

    Heirloom Realty, LLC

    (218) 390-4317

    3 in this area

    29 Total Sales

    Section Image

  • N

    Buyer's Agent in 2021

    Nonmember NONMEMBER

    Nonmember Office

See All Agents

Map

Source: Lake Superior Area REALTORS®

MLS Number: 6096384

Minnesota St Louis County Virginia 55792

602 7th St S, Virginia, MN

This home is located at 602 7th St S, Virginia, MN 55792 since 01 May 2021. This property was built in 1907. 602 7th St S is a home located in St. Louis County with nearby schools including Parkview Elementary School, North Star Elementary School, and Virginia Secondary School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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