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Golf Shores Resort Condominiums 501 Quadna Rd 40 Unit Apartment Building $7,975,000 ($199,375/Unit) Hill City, MN 55748
INVESTMENT HIGHLIGHTS
- 40 individually titled Lakeshore resort condominiums. Tons of amenities. investor/buyer my rent long-term or short term.
EXECUTIVE SUMMARY
Low down(10%), low interest(4.99%) owner financing available on this prime, redeveloped Lakeshore condo resort in Northern Minnesota. A total of 40 individually titled, free and clear condos available. Tons of amenities. Short term and long-term rental strategy possible for owner/investor.Maximize return with planned sales strategy. Fractional ownership sales allowed to increase return. Plus bonus 8 acres of Lakeshore available for future development.
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$600,000
|
$10.00
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$600,000
|
$10.00
|
| Taxes |
$29,400
|
$0.49
|
| Operating Expenses |
$172,000
|
$2.87
|
| Total Expenses |
$201,400
|
$3.36
|
| Net Operating Income |
$398,600
|
$6.64
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $600,000 |
| Annual Per SF | $10.00 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $600,000 |
| Annual Per SF | $10.00 |
| Taxes | |
|---|---|
| Annual | $29,400 |
| Annual Per SF | $0.49 |
| Operating Expenses | |
|---|---|
| Annual | $172,000 |
| Annual Per SF | $2.87 |
| Total Expenses | |
|---|---|
| Annual | $201,400 |
| Annual Per SF | $3.36 |
| Net Operating Income | |
|---|---|
| Annual | $398,600 |
| Annual Per SF | $6.64 |
PROPERTY FACTS
| Price | $7,975,000 | Apartment Style | Low-Rise |
| Price Per Unit | $199,375 | Building Class | B |
| Sale Type | Investment | Lot Size | 131.50 AC |
| Sale Condition | Bulk/Portfolio Sale | Building Size | 60,000 SF |
| No. Units | 40 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | ||
| Zoning | Residential - Residential | ||
| Price | $7,975,000 |
| Price Per Unit | $199,375 |
| Sale Type | Investment |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 131.50 AC |
| Building Size | 60,000 SF |
| No. Stories | 3 |
| Year Built | 1964 |
| Zoning | Residential - Residential |
AMENITIES
SITE AMENITIES
- Picnic Area
- Playground
- Sauna
- Waterfront
- Lake Access
- Private Bathroom
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Renewal Development LLC
Golf Shores Resort Condominiums | 501 Quadna Rd
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