315 Broadway Street Cleveland, MN

Overview

Description

Great investment opportunity! This building has three apartments, all 3 have been completely remodeled within the last year.The first apartment is 3 bedrooms, one bath on the second floor with current rent at $1, 100 per month. The second apartment is also on the second floor with three bedrooms, one bath currently $1, 000 per month. The third apartment is on the main floor and has two bedrooms and is currently $900 permonth. The main floor features a laundromat that averages $500 - $800 monthly income. There is opportunity for increases to market rate for rent as well as storage space in the basement and the possiblity to convert the other half of the laundromat to retail space. Apartments have control of their own heat, and could use locked thermostats to lower monthly gas bills. Potential increases of over $1, 000 per month with little capital invested. Electrical averages around $4 per day, Water bill is consistently $250/Month and Garbage is $40/Month