This property at Minnow Lake Rd , Phillips, WI54555 has listed by Richard  A  Clinton but has not been updated for quite some time. Please contact the listing agent and broker for up to date information.

Minnow Lake Rd
Phillips, WI54555

$1,249,900

Multi Family
MLS#: 136133

0 beds32000 sqft

Lot: 3.50acres Year built: 1993

Sold

30 unit Apartment Complex At 100% Occupancy. Excellent Maintenance,

Excellent Return on Investment! This impeccably maintained 3 building, 30 unit apartment complex is located in the heart of the Northwoods just on the outskirts of Philips, Wisconsin. Residents enjoy the private 3.5 acre setting with mature Norway Pines and visits from Deer, Turkey, and much more wildlife. There are also 23 garage rental units and full laundry inncome. This complex has over 32,000 square feet of living space with 1, 2 and 3 bedroom units. No deferred maintanence. 2014 income projects to be over $200,000.

About the Neighborhood

The following are some links to information about the Phillips area:
 
http://cityofphillips.com/
 
http://www.phillipswisconsin.net/
 
http://en.wikipedia.org/wiki/Phillips,_Wisconsin
 

More details

Located on the edge of town and a few hundred feet from the 4 lake Phillips Chain of Lakes. The complex is not run down. The owners (who originally built it) are retiring from the rental business... not running from this complex. It has been well maintained with remodeling and upkeep done every time there was a vacancy. There are some furnished units used for weekly rentals and executive lodging. Phillips is a stable community with a strong industrial/manufacturing employment base with 7 manufacturing business. People don't move out of Phillips in order to look for work! 
The following are the rental incomes :
1 bedroom $545 + electric
2 bedroom $595 + electric
3 bedroom $645 + electric
Garage units are $30/month for residents and $40/month for non-residents.
Coin Laundry in each complex.
 

Richard  A  Clinton

Birchland Realty
715-780-0029
License: WI 76066-94
Listed by: Rich Clinton, Birchland Realty

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