Fairmont, MN 56031,501 Burton LN #571
Fairmont, MN 56031,501 Burton LN #571
Fairmont, MN 56031,501 Burton LN #571
34
$688,000
$680,000
1.2%
Est.Price: ?

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1.31 Acres Lot

501 Burton LN #571 Fairmont, MN 56031

Est. payment /mo
SOLD DATE : 10/30/2020

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Key Details

Sold Price $688,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 5633999

Sold Date 10/30/20

Year Built 2001

Annual Tax Amount $552

Tax Year 2020

Contingent None

Lot Size 1.310 Acres

Acres 1.31

Lot Dimensions irregular

Property Description

An amazing investment opportunity awaits you in Fairmont, MN. This 2 building / 8 unit complex is nestled on the east side of Fairmont.
There are 4 units in each building with a mirror layout. Each unit consists of a main floor living space with 2 bedrooms and 1 full bath. Each unit has an open layout kitchen and dining space as well as a nice living room space. Also included is a single car garage, and a separate mechanicals room. Middle units have a second exterior door from the bedroom leading to their patio area.
Units are well maintained. Some will require updates due to extended tenancy periods of long term tenants. Seller has updated units between tenants whenever possible. New asphalt shingle roof for each building was installed 2019.
All units are fully rented and have a long and stable tenant occupancy history. All units have written leases in place.

Location

State MN

County Martin

Zoning Residential-Multi-Family

Rooms

Basement None

Interior

Heating Forced Air

Cooling Central Air

Fireplace No

Exterior

Garage Attached Garage

Garage Spaces 8.0

Utilities Available Electric Separate, Heating Separate, Hot Water Separate

Roof Type Asphalt

Present Use Residential

Parking Type Attached Garage

Building

Foundation 12064

Sewer City Sewer/Connected

Water City Water/Connected

Structure Type Vinyl Siding

Schools

School District Fairmont Area Schools

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Listed by Kim Kreiss • EXIT Realty - Great Plains

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Nicole Biczkowski

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