17 8th St - Cloquet
MLS # 141221| $319,900

  
  Victory Apartments is a 12 unit building located near downtown Cloquet, Minnesota. It consists of efficiencies, one and two bedroom units. Rents range from $335 to $585 per month. It has been profitable for the past three years. It is professionally managed and it is 100% occupied. Victory Apartments was chosen for a citywide housing grant in Cloquet. And so in the past several years, the apartment building has received the following capital improvements: Maintenance free vinyl siding, New vinyl windows, New roof, New hot water heater, New boiler, New fire alarm system. And in the past two years, the apartments have received fresh paint, some new flooring, some new cabinets, and a number of new appliances. Eight of the twelve apartments have not received rent increases in five years. Furthermore, the owners have been approached by various businesses in Cloquet that would like to use the basement of Victory Apartments for dry indoor storage and other uses. In 2006, Victory Apartments received a Energy Star audit. The new boiler and water heater are also part of the Energy Star program. Rid yourself of Duluth's licensing red tape, no licensing required in Cloquet. Partial owner financing for down payment assistance possible. Building manager in place and working well.

List Agent 
Mark Kinsman
Contact 218-310-9183

RE/MAX Cloquet  is an Equal Opportunity Employer and supports the Fair Housing Act.

This information is deemed reliable, but not guaranteed.