200 NE Hwy 1, Effie, MN 56639 (MLS# 7141188)

200 NE Hwy 1, Effie, MN 56639

$225,900
Property Type: Commercial Bedrooms: 8 Baths: 6 Square Footage: 4,492 Lot Size (sq. ft.): 22,216 Status: Active
Current Price: $225,900 List Date: 9/10/2026 Last Modified: 9/25/2026

Overview

Description

Investment opportunity in Effie! This well-maintained six-unit apartment complex sits on .51 acres along Hwy 1 and offers a strong, established rental history. Currently fully occupied, the property has several long-term tenants with all units on month-to-month leases. Apartments are nicely updated and well cared for, with the efficiency unit typically seeing the most turnover. Property features include a new shingled roof, flat roofs replaced approximately two years ago, shared coin-operated laundry, patio area, raised garden beds, and ample parking with designated spaces and electrical plug-ins. Utilities are included in the rent, while tenants are responsible for their own TV and internet. With a history of excellent occupancy and consistent tenant demand, this is an attractive income-producing asset for investors. Financial information available upon request to pre-qualified buyers.

Listing Details MLS# 7141188

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
6
Owner Occupied
No
Waterfront YN
No
Year Built
1962
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
2256
Power Company
Northern Itasca Electric
For Sale or Lease
For Sale
Acres
0.51
Lot Dimensions
.51 acres
Assessment Pending
Yes

Property Features

Accessible: None Air Conditioning: Central Air Amenities Shared: Coin-op Laundry Owned; Common Garden; Patio Appliances: Range; Refrigerator CMU Style: Apartments/Multi Family Construction Materials: Brick; Frame Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone; Log Siding Foundation: Concrete Block Fuel: Electric; Propane Heating: Baseboard; Forced Air Internet Options: Fiber Optic Loan Terms: Cash; Conventional Location Description: Downtown On Site Utilities: Electric Common; Heating Common; Hot Water Common Owner Pays: See Remarks Parking Characteristics: Parking Lot Rent Rate per Foot: Per Month Rental License Type: Standard Roof: Architectural Shingle; Flat; Metal Sewer: City Sewer/Connected Shared Rooms: Other Stories: Two Tenant Pays: Broadband; Cable TV; Insurance; Telephone Water: Drilled

Contract Information

Contingency
None
ListPrice
225900
Owner is an Agent?
Yes
Auction?
No

Location Tax and Other Information

House Number
200 NE
Street Name
Hwy 1
Postal City
Effie
County
Itasca
State
MN
Zip Code
56639

Assessments

Assessment Balance
405
Assessment Installment
405
Tax With Assessments
1804

Building Information

Building Finished SqFt
4492
Building SqFt
4492

More Information

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
26
Section#
22
Township#
62

Sale Options

Sale Includes
Building, Business, Fixture/Equipment, Land, Leases

Unit 1

Unit Number
101
Full Baths
Yes
Total Bathrooms
Yes
Total Bedrooms
2
Level
Below Ground
Unit Total SqFt
836
No. of 1 Bedroom Units
2

Unit 2

No. of 2 Bedroom Units
3
Level
Below Ground
Three-Quarter Baths
Yes
Total Bathrooms
Yes
Unit Number
102
Unit Total SqFt
400

Unit 3

Level
Main Level
Three-Quarter Baths
Yes
Total Bathrooms
Yes
Total Bedrooms
2
Unit Number
203

Unit 4

Full Baths
Yes
Level
2nd Level
Total Bathrooms
Yes
Total Bedrooms
2
Unit Number
204
Unit Total SqFt
612

Unit 5

Level
2nd Level
Three-Quarter Baths
Yes
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
305
Unit Total SqFt
557

Unit 6

Level
2nd Level
Three-Quarter Baths
Yes
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
306

Unit Details

Total Units
6

Unit Information

No. of Efficiency Units
Yes
IDX
Listing Office: COLDWELL BANKER NORTHWOODS
Last Updated: September - 25 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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