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MLS # 1535274 - $159,900

300 Maple ST n/a - Turtle Lake, WI 54889

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Property Description

$159,900  |  MLS # 1535274  |  300 Maple ST n/a - Turtle Lake, WI 54889

THIS INCOME PRODUCING PROPERTY IN TURTLE LAKE CONSISTS OF 3 RENTAL APARTMENTS GROSSING $1,475/MONTH. THESE 3 UNITS ARE ON VERBAL MONTH TO MONTH LEASES. RENTS HAVE NOT BEEN RAISED FOR MANY YEARS FOR TWO OF THE APARTMENTS. THERE IS A LEASE THROUGH 2026 WITH THE POST OFFICE GROSSING $8,950/YEAR BUT SCHEDULED TO RISE TO $9849/YEAR BY MAY 2021. THERE ARE 4 STORAGE LOCKER UNITS WITH THE POTENTIAL TO PRODUCE $50/MONTH PER LOCKER. THE SELLER PAYS ALL THE UTILITIES FOR THE 3 RENTAL APARTMENTS WHICH RUN ABOUT $5,155 AND $2,600 FOR INSURANCE. HOWEVER, THESE UNITS ARE METERED SEPARATELY IF YOU WANTED TO CHANGE THAT. THE POST OFFICE PAYS ALL THEIR UTILITIES AND REIMBURSES THE SELLER FOR THE YEARLY PROPERTY TAXES SO THERE IS REALLY NO OUT OF POCKET COST THERE EXCEPT FOR BUILDING MAINTENANCE. THE APARTMENTS HAVE A ROOF THAT IS APPROX. 4 YEARS OLD. THE POST OFFICE HAS A ROOF THAT IS 12 YEARS OLD W/25 YEAR WARRANTY. 2 CAR GARAGE IS INCLUDED AS WELL.

Property Details

$159,900  |  MLS # 1535274  |  300 Maple ST n/a - Turtle Lake, WI 54889

Approximate Location

$159,900  |  MLS # 1535274  |  300 Maple ST n/a - Turtle Lake, WI 54889

Payment Calculator

$159,900  |  MLS # 1535274  |  300 Maple ST n/a - Turtle Lake, WI 54889

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Contact Darin Moravitz - 715-205-8805

Re: $159,900  |  MLS # 1535274  |  300 Maple ST n/a - Turtle Lake, WI 54889

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  • Darin Moravitz

    Listing Agent

    Turtle Lake Office

    715-205-8805

    dm@lakeplace.com

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