11024-11038 183rd Circle NW, Elk River, MN 55330 (MLS# 7037372)
$2,500,000
Elk River, MN 55330
MLS# 7037372
16 beds | 16 baths
1 / 22
Property Description
55+ 1-Level rental community built in 2020. Hard to find investment opportunity. Community consists of 4 twin homes (8 units). Each unit has a separate PID to provide for residential v.s commercial property tax rate and ease of forming association if owner wanted to sell units individually. Units boast a great floorplan and are well appointed. Very stable and loyal tenant base that have been taking great care of their respective units. Conveniently located on a quiet cul-de-sac and close to local shopping and the Hwy 101/169 corridor.
Details
Maps
Contract Information
Status: Active
Current Price: 2500000
Contingency: None
ListPrice: 2500000
List Date: 2026-03-16
Owner is an Agent?: Yes
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: Yes
Other Parking Spaces: 16
Owner Occupied: No
Waterfront Present: No
Year Built: 2020
Yearly/Seasonal: Yearly
Zoning: Residential-Single Family
Bedrooms: 16
Baths Total: 16
Foundation Size: 1442
Garage Stalls: 2
For Sale or Lease: For Sale
Acres: 1.78
Lot Dimensions: 211x302x391x339
Assessment Pending: No
Location Tax and Other Information
House Number: 11024-11038
Street Name: 183rd
Street Suffix: Circle
Street Direction Suffix: NW
Postal City: Elk River
County: Sherburne
State: MN
Zip Code: 55330
Complex/Dev/Subdivision: Mulvaney Point Twin Homes
Additional Parcels Information
Property ID #2: 75009040110
Property ID #3: 75009040115,75009040120,75009040125,75009040130,75009040135,75009040145,75009040140
Assessments
Tax With Assessments: 30528
Building Information
Building Finished SqFt: 1442
Building SqFt: 1442
Ceiling Height: 8-10
Income and Expenses
Annual Gross Expenses: 53000
Annual Gross Income: 210720
Annual Insurance Expense: 9530
Annual Maintenance Expense: 7000
Annual Net Income: 157720
Annual Water/Sewer Expense: 1500
Total Annual Expenses: 53000
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Parking Characteristics
Garage Door Height: 7
Garage Door Width: 16
Garage Square Feet: 450
Public Survey Info
Range#: 26
Section#: 35
Township#: 33
Sale Options
Sale Includes: Building, Land, Rental License
Unit 1
Unit Number: 11024
Monthly Rent: 2195
Full Baths: 1
Three-Quarter Baths: 1
Total Bathrooms: 2
Total Bedrooms: 2
Total Rooms: 7
Level: Main Level
Unit Total SqFt: 1442
Leased?: Yes
Lease Expiration Date: 2027-04-01
Unit 2
No. of 2 Bedroom Units: 8
Full Baths: 1
Lease Expiration Date: 2027-04-01
Leased?: Yes
Level: Main Level
Monthly Rent: 2195
Three-Quarter Baths: 1
Total Bathrooms: 2
Total Bedrooms: 2
Total Rooms: 7
Unit Number: 11026
Unit Total SqFt: 1442
Unit 3
Full Baths: 1
Lease Expiration Date: 2027-04-01
Leased?: Yes
Level: Main Level
Monthly Rent: 2195
Three-Quarter Baths: 1
Total Bathrooms: 2
Total Bedrooms: 2
Total Rooms: 7
Unit Number: 11028
Unit Total SqFt: 1442
Unit 4
Full Baths: 1
Lease Expiration Date: 2027-04-01
Leased?: Yes
Level: Main Level
Monthly Rent: 2195
Three-Quarter Baths: 1
Total Bathrooms: 2
Total Bedrooms: 2
Total Rooms: 7
Unit Number: 11030
Unit Total SqFt: 1442
Unit 5
Full Baths: 1
Lease Expiration Date: 2027-04-01
Leased?: Yes
Level: Main Level
Monthly Rent: 2195
Three-Quarter Baths: 1
Total Bathrooms: 2
Total Bedrooms: 2
Total Rooms: 7
Unit Number: 11032
Unit Total SqFt: 1442
Unit 6
Full Baths: 1
Lease Expiration Date: 2027-04-01
Leased?: Yes
Level: Main Level
Monthly Rent: 2195
Three-Quarter Baths: 1
Total Bathrooms: 2
Total Bedrooms: 2
Total Rooms: 7
Unit Number: 11034
Unit Total SqFt: 1442
Unit 7
Full Baths: 1
Lease Expiration Date: 2027-04-01
Leased?: Yes
Level: Main Level
Monthly Rent: 2195
Three-Quarter Baths: 1
Total Bathrooms: 2
Total Bedrooms: 2
Total Rooms: 7
Unit Number: 11036
Unit Total SqFt: 1442
Unit 8
Full Baths: 1
Lease Expiration Date: 2027-04-01
Leased?: Yes
Level: Main Level
Monthly Rent: 2195
Three-Quarter Baths: 1
Total Bathrooms: 2
Total Bedrooms: 2
Total Rooms: 7
Unit Number: 11038
Unit Total SqFt: 1442
Unit Details
Total Units: 8
Property Features
Accessible: No Stairs External; No Stairs Internal
Air Conditioning: Central Air
Amenities Unit: Ceiling Fan(s); In-Ground Sprinkler; Kitchen Center Island; Main Floor Primary Bedroom; Paneled Doors; Patio; Primary Bedroom Walk-In Closet; Washer/Dryer Hookup; Other
Appliances: Air-To-Air Exchanger; Dishwasher; Disposal; Dryer; Microwave; Range; Refrigerator; Washer
Basement: None
CMU Style: Apartments/Multi Family; Duplex Side by Side; Low Rise
Construction Status: Previously Owned
Current Use: Residential
Exterior: Brick/Stone; Metal; Vinyl
Flooring: Carpet; Luxury Vinyl Plank
Foundation: Slab
Fuel: Natural Gas
Heating: Forced Air
Loan Terms: Cash; Conventional
Lot Description: Tree Coverage - Medium
On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate
Overhead Door Clearance: 0-9 Feet
Owner Pays: Common Area Maintenance; Grounds Care; HVAC Maintenance; Insurance; Lawn; Lawn; Maintenance/Repair; Repairs; Roof Maintenance; Snow Removal; Taxes
Parking Characteristics: Insulated Garage; Paved Lot
Pool Description: None
Potential Use: Income
Rent Rate per Foot: Gross
Rental License Type: Standard
Road Frontage: City Street; Cul De Sac; Paved Streets
Road Responsibility: Public Maintained Road
Roof: Age 8 Years or Less; Asphalt Shingles; Pitched
Sewer: City Sewer/Connected
Stories: One
Tenant Pays: All Utilities
Topography: Level
Wall Description: Drywall
Water: City Water/Connected
Listing Office: Acuity Group
Last Updated: April - 21 - 2026
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