3524 Lake Elmo Ave N Lake Elmo, MN 55042

Listing details for 3524 Lake Elmo Ave N, Lake Elmo, MN 55042 : Amazing investor opportunity in the heart of downtown Lake Elmo- two exceptional duplexes on one parcel! Duplex #1 faces Lake Emo Ave & Duplex #2 is behind on 35th St. Four convenient off-street parking spaces for tenants. All four units are 1 bed/1 bath with long-term tenants in place, paying month to month. Rent is currently below market rate. Tenants pay gas/electric/heat and garbage. Owner pays water/sewer, maintenance, taxes and insurance. Zoning is mixed use, opening up greater opportunity for buyer's use of property. Lake Elmo is growing, and downtown boasts a coffee shop and other wonderful small businesses, restaurants and gift shop- This is the place to be! Buyers must show proof of funds if paying with cash or an investor funding pre-approval letter prior to scheduling a showing. Approximate annual expenses: taxes - $5556; lawn - $1650; snow - $540; water/sewer - $600; insurance - $2897.