1115 W Michigan St, Duluth, MN 55806

Includes 4+ acre lot next door, 68 units-54 done and rented, 14 to go but have applications on them-they will be done in November, the common areas will be done in Dec/Jan and there will be a brand new parking lot in the spring.  We can close anytime and seller will escrow anything not yet done.

• Recently converted from 35 units to 68 units, all units are like new.
• Property has 7 year left on a pay as you go TIF. Seller will consider 10% down contract for deed at 4-
• 5% interest with a 3 year balloon.
• 27 Studios (300 sq ft) renting from $600-650/mo
• 34 one bedrooms (650 sq ft) renting from $900-950/mo
• 6 two bedrooms (900 sq ft) renting at $1200/mo
• 1 three bedroom renting at $1400/mo
• Currently 45 units are completed and occupied and the remaining 15 units will be done in November
• and all have applications on them (actually there is a waiting list).
• All units have (will have) new flooring, lights/ceiling fans, new cabinets, new countertops, appliances
• and paint.
• The Common areas will be redone by Dec/Jan
• There will be a new parking lot installed in the spring.
• The one and two bedrooms have dishwashers.
• 12 garages
• The 2 bedrooms come with a washer and dryer.
• The building has a sprinkler system.
• Owner pays Gas and electric.
• Pitched roof is 10 years old.
• New boilers and Hot water heater.
• Laundry room on every floor (machines owned by seller)

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