For Sale: White Bear Lake MLS# 7108056
Active
$750,000
Multi-family: Other
5 br • 2 ba • Built 1899
2,000 sqft • 0.517 acres
White Bear Lake schools
MLS# 7108056
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Property Description
Income Today, Growth Tomorrow: White Bear Lake Commercial Property
Don’t miss this fantastic opportunity to invest in a prime parcel of commercial property in White Bear Lake, Adjacent to City Hall on Second Street. This offering comprises two adjacent parcels with rent-producing single-family residences in excellent condition. The properties are currently fully leased at below market rates that allow for future increases. The area represents fast-growing, highly sought-after properties with GX-D (General Mix Downtown) zoning. The area has excellent potential for future value increases. If you are looking for an opportunity with an excellent chance of future increases while providing passive income today, this is it.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$750,000
Price per sq ft:
$375
Property Type:
Multi-family
City:
White Bear Lake
Garage Spaces:
2
County:
Ramsey
Year Built:
1899
State:
MN
Property Style:
Other
Zip Code:
55110
Interior
Bedrooms:
5
Bathrooms:
2
Finished Area:
2,000 ft2
Living Area:
2,000 ft2
Basement Details:
Partial
Exterior
Stories:
One and One Half
Garage Spaces:
2
Garage Size:
500 ft2
Foundation Size:
1,692 ft2
Foundation Dimensions:
28x28, 30x30
Handicap Accessible:
None
Heating System:
Forced Air
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.517
Geolocation:
45.0836582792, -93.0133122384
Lot Dimensions:
150 x 150
Addl Parcels:
143022420066
Schools
School District:
624
District Phone:
6514077500
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$1,500
Annual Maintenance Expense:
$1,200
Annual Trash Expense:
$400
Annual Water/Sewer Expense:
$500
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$8,562
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$8,562
Income
Annual Gross Income:
$38,400
Units
Total Units:
2
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Rocket Realty.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.