170 Marge Lane, Mission SD

Description

   Attention Investors!  Are you looking for a four-plex apartment complex as an investment?  Keep it as a rental, live in one and rent out three!  So many possibilities!  Currently 3 units have 2 bedrooms, 1 bath and 1 unit has 1 bedroom and 1 bath. Easy access to many businesses.  

Price

130,000

MLS

19-72

Property Description

 CONSTRUCTION/STYLE:  Residential/Commercial rental building (heat and electric are all separate)
LEGAL DESCRIPTION:  Lots 5 & 6; Blk 4 replat of part of Bechtold Addition and Lot B of outlot 4 of Bechtold Addition; Mission City; Todd County    

LOT SIZE:  100' x 150'
YEAR BUILT: 1978

EXTERIOR:  Newer siding and windows in 2011

INTERIOR: Newer hot water heaters (2014), newer carpets (2013)

PERSONAL PROPERTY: Electric range and refrigerator in each apartment
BUILDING SIZE: 3360 square feet (1680' per level)
USAGE:  Investment property, residential, hunting lodging

ADDITIONAL NOTES:  

  • Some of the recent updates include new outside siding around the entire building & new 
  • windows in 2011 
  • New 1/2 roof in 2014 (as the other 1/2 was completed about 5 years ago 
  • New hot water heaters (2) in June 2014 
  • Some newer carpets in two apartments in 2013 & more newer flooring and walls in lower level apartments and the laundry room area  
  • Also 4 new bathroom exhaust fans were added in summer of 2015. 
  • Other repairs handled as needed with plumbing, electrical, etc. 
  • The property also includes 4 refrigerators, 4 electric stoves, 2 new hot water heaters in June 2014. 
  • New refrigerator apt 402 in 2011; new refrigerator apt 401, January 2019; new stove apt 404, February 2019. 
  • The apartments currently rent for $470 for the 3 -two bedroom apartments and the 1 bedroom rents for $440 (increased to $450 March 1, 2019) and each tenant pays their own utilities through Cherry-Todd Electric. 
  • The owner pays for the trash {$81 / month), electric for main areas of building (varies), and the water/sewer ($60 / month), plus building taxes ($2140.94 pd in 2018 / for 2017 taxes); rec'd tax statement for 2019 after sending him email for 2018 tax year-paid $2158.14; 2019 insurance ($1340 paid 1.01.2019) 
  • The insurance company has the apartment building insured for $236,526 replacement cost. 
  • There is additional land that can be purchased with the apartment building on both sides of the apartment (north & south). This land will not be sold individually without the apartment as it will be offered to purchaser of the apartment building for extra land to build garages, storage buildings or other options.

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Shippy Realty

102 E 2nd, Suite 2, Winner, SD 57580, US

(605)842-3212

Hours

Mon

9:00 am – 5:00 pm

Tue

9:00 am – 5:00 pm

Wed

9:00 am – 5:00 pm

Thu

9:00 am – 5:00 pm

Fri

9:00 am – 5:00 pm

Sat

Closed

Sun

Closed