401 1st Avenue Pelican Rapids, MN
$ 217,500
Property Attributes
  • MLS#2035345
  • TypeMulti-Family
  • CountyOTTER TAIL
  • CityPelican Rapids
  • AreaPelican
  • Zip56572
  • StyleTri-Plex
  • Year Built1959
  • Taxes$ 2554
  • Price$ 217,500
  • Bedrooms6
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage3192
  • Lot Size12,632 SqFt
Listing Provided Courtesy Of:
The Real Estate Company of Detroit Lakes
Data Source:
Lake Region AOR
Property Description

Investment opportunity in Pelican Rapids! This Triplex features a 3 Bed one bath unit and recently cleaned / painted efficiency on the main level, along with a lower level walkout 2 Bed 1 bath unit. Move into the efficiency and have your bills paid, or rent it out and achieve a potential cap rate of 9.5 at the current rents.! Tenants pay utilities and are responsible for snow removal. Shared Laundry in the basement. There are 2 garage stalls below as well. Furnace replaced 2 years ago and shingles replaced within 6 years. Corner Lot has frontage on 3 streets. Don't miss out on this great investment opportunity! Call today to schedule a private showing.

Price History
1/5/2022 Listed $217,500

General Features

Assessments No
Construction Status Previously Owned
Finished SqFt 3192.00
Fuel Natural Gas
HOA Fee No
Number of Garage Spaces 2.00
Property Type B
Road Frontage City Street, Curb/Gutters
Roof Asphalt Shingles
School District Pelican Rapids #548
Status Active
Stories 1 Story
Style Tri-Plex
Tax Year 2021
Terms Cash, Conventional
Water Type City
Waterfront No
Year Built 1959

Interior Features

Basement Features Partially Finished
Basement Material Concrete Block
Basement Style Full, Walkout
Heating Forced Air
Total Bedrooms 6
Total Floors 2.0
Total Number of Units 3

Exterior Features

Approx. Lot Dimensions 105x120
Construction Type Frame/Wood
Exterior Wood
Garage Type Attached, Tuckunder
Lot/Land Description Corner Lot
Number of Off Street Parking 2
Waterfront Name None


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 56572

AVG $220K
AVG $2,554
AVG 22
Year Built
AVG 1959
AVG 47
Data Provided by Walkscore ® not using MLS data

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