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YOUR MULTIFAMILY INVESTMENT GUIDE
  • Home
  • Buy
    • Featured Listings
  • Sell
    • What our buyers are looking for
    • Maximizing Your Property Value
    • Calculate Your Property Value
  • About
    • Meet The Team
    • Testimonials
    • Blog
    • Contact
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YOUR MULTIFAMILY INVESTMENT GUIDE

3815 Restwood Financials

 

Unit

Beds

Baths

Current

Expiration

Market

  1 2 1 $1,095 8/31/22 $1,305 - $1,350
  2 2 1 $1,050 6/30/22

$1,305 - $1,350

3 2 1 $1,095 6/30/22 $1,305 - $1,350
4 2 1 $925 Month To Month $1,305 - $1,350
Total 8 4 $4,165 $5,220 - $5,400

Laundry machines provide approximately $50-$73 per month of additional revenue. Machines are leased and maintained by BDS Laundry

Expenses

Annually

Monthly

Notes

Property Taxes $9,038 $753

Based on 2021 assessed value of $517,200

2022 assessed value: $552,600

Rental License $220 $18 Application & inspection fee of $440 every two years
Insurance $3,485 $290
Utilities: Gas $1,251 $104

1 meter - Owner pays for boiler heat

Utilities:  Electricity $597 $50

5 meters - owner pays for common area. Tenants pay for their own

lights, electric water heaters & cooking stove

Utilities: Water  $1,619 $135 City water / sewer
Utilities: Trash $4,325 $360 Waste Management - 2021 was abnormally high due to illegal dumping
Snow Removal $480 $40 Kelly Shea Snow Services - $80 / time
Lawn Care $1,580 $132 Private party - typically mows 2 times per month $100 / time

 

Laundry Rental $1,282 $107 BDS Laundry - contract expires 8/24/22 - 90 day notice required
Water Softener $321 $27 Aquarius Home Services - Kinetico 2060 - Rented
Caretaker $300 $25 Unit 4 provides common area cleaning for rent discount
Property Management $3,373 $281 3rd party management
Leasing $1,100 $92 3rd party management
Maintenance / Turnover $5,500 $458

Actual expenses will vary based on management style and property needs.

Seller's 2021 expenses were abnormally higher than stated for a variety of reasons.

Total $34,471 $2,873

  Information is deemed reliable but not guaranteed.  Buyer and Buyer's agent to verify all details.  

Click here to view property photos, video, floor plan and virtual tour.

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Office

Bridge Realty
1101 E 78th #300Bloomington
MN 55420
612-554-7794

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