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117 3rd Street E.
Park Rapids, MN 56470
Asking Price
$2.60M
Cap Rate
8.07%
Asset Type
Apartment Building Multifamily
Class
Class B
What's Special
117 3rd Street E., Park Rapids, MN 56470 <ul><li>Converted from a High School to Residential Units Approximately 20 Years Ago</li><li>Located at the intersection of 3rd Street East and Washington Avenue South, this downtown Park Rapids property offers excellent visibility and convenient access to surrounding businesses, restaurants, and community amenities.</li><li>New Sprinkler System, Security Cameras, 75% Roof Replacement, and Parking Lot Improvements</li><li>New Electrical and Plumbing Completed Between 2004-2007</li><li>Oppor
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NOI
$80,000
Cap Rate
3.08%
DSCR
0.52
Underwater
Cash-on-Cash
-9.53%
Monthly Payment
$12,863.381
Annual Cash Flow
$-74,360.577
