If you are looking for a lucrative investment opportunity in the development sector, look no further than the Minnesota Duplex for Sale at the Carefree Cottages development in Crosslake. This property offers not only immediate rental income but also the potential for further land development.
The highlight of this sale is the four condos situated in different areas of the Carefree Cottages development. Each condo features two bedrooms, two baths, and one-level living, making them highly desirable for potential tenants. With finished square footage ranging from 1100 to 1200, these condos provide ample space for comfortable living. The association fee of $175 per month per unit ensures that the maintenance and upkeep of the property are taken care of.
What makes this opportunity even more enticing is that all four condos are currently being rented. This means that you can start generating income from day one. Whether you are a seasoned investor or someone looking to venture into the real estate market, this turnkey rental property offers a great way to enter the market and begin earning a steady cash flow.
However, the potential of this sale goes beyond the existing condos. Included in the package is an undeveloped 4-plex condo site with four garage stalls. This presents an excellent opportunity to build additional units and increase your rental income. Alternatively, you can also sell these newly constructed units for a profit, capitalizing on the demand for housing in the area.
The sale also includes eight single-stall garages that have already been built. These garages provide additional rental space, catering to the needs of tenants who require secure parking or extra storage.
Moreover, the package encompasses a 7.35-acre parcel to the West of the development. This sizable piece of land offers immense potential for further expansion or development. Whether you choose to build more rental units or explore other options such as commercial spaces or recreational facilities, this land provides a blank canvas for your entrepreneurial vision.
The Carefree Cottage development is ideally located in the heart of Crosslake, ensuring a high demand for rental properties. Residents will have access to the Crosslake Community Center, Crosslake pathways for biking or walking, great restaurants, various retail shops, and premier golf courses. This prime location enhances the appeal of the property and ensures a steady stream of potential tenants.
In conclusion, the Minnesota Duplex for Sale at the Carefree Cottages development in Crosslake presents an excellent investment opportunity. The four rented condos, undeveloped 4-plex condo site, existing garages, and expansive land offer a variety of options for income generation and further development. With its prime location and attractive features, this property is a must-consider for anyone looking to invest in the booming Minnesota real estate market.
37440 Carefree Drive, Crosslake, MN 56442