Lake Park MN Multi Family for Sale
$899,000
4011 4TH Street Lake Park, MN 56554
- Type:
- Multi-Family
- Sq.Ft.:
- 11,928
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 1 Acres
- Year built:
- 1968
- Baths:
- MLS#:
- 23-5526
View additional info
Courtesy: The Real Estate Company of Detroit Lakes
218-841-2187
ADDITIONAL INFORMATION
What a great investment opportunity in the City of Lake Park! Welcome to Park Terrance Apartments, a 12-plex building located between Detroit Lakes, MN and Fargo, ND. Featuring 11-2bed/1bath units, 1-1bed/1 bath unit, 6 garage stalls and parking lot, shared/coin-op laundry in the lower level, common interior hallways, and more. Each 2nd and 3rd floor unit has a balcony, and two of the lower-level units have a walk-out patio. Over half of the units have been updated (2 current vacancies under construction). The roof was replaced about 10 years ago. New common water heater (5 years old). Laundry updates underway. Plenty of Upside with current market rates, garage stall income, and coin-op laundry. Book your showing today! 48 hr notice required.
Lake Park Real Estate
The median home value in Lake Park, MN is $374,800. This is higher than the county median home value of $221,600. The national median home value is $219,700. The average price of homes sold in Lake Park, MN is $374,800. Approximately 58.08% of Lake Park homes are owned, compared to 31.14% rented, while 10.78% are vacant. Lake Park real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Lake Park real estate agent to arrange a tour today!
Lake Park, Minnesota has a population of 776. Lake Park is more family-centric than the surrounding county with 33.17% of the households containing married families with children. The county average for households married with children is 28.56%.
The median household income in Lake Park, Minnesota is $57,143. The median household income for the surrounding county is $55,884 compared to the national median of $57,652. The median age of people living in Lake Park is 32.2 years.
Lake Park Weather
The average high temperature in July is 80.1 degrees, with an average low temperature in January of -3.7 degrees. The average rainfall is approximately 26.1 inches per year, with 45.3 inches of snow per year.