601 & 603 Main Street, Oklee, MN 56742 (MLS# 7120186)

601 & 603 Main Street, Oklee, MN 56742

$287,500

Property Type: Commercial Bedrooms: 8 Baths: 8 Square Footage: 2,928 Lot Size (sq. ft.): 29,621 Status: Active

Current Price: $287,500 List Date: 8/02/2026 Last Modified: 9/16/2026

Overview

Description

Great investment opportunity in this thriving small community! Two buildings, each housing 4 one-bedroom units. Siding, windows, and shingles were done in 2015. Other updates throughout the units as well. Call today to schedule your showing!

Listing Details MLS# 7120186

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 8
Owner Occupied: No
Waterfront YN: No
Year Built: 1977
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 2928
For Sale or Lease: For Sale
Acres: 0.68
Lot Dimensions: 200x150
Assessment Pending: No

Property Features

Accessible: No Stairs Internal Air Conditioning: Wall Unit(s) Appliances: Range; Refrigerator Assumable Loan: Not Assumable Basement: None CMU Style: Apartments/Multi Family; Single Occupancy Construction Materials: Frame; Other Construction Status: Previously Owned Current Use: Residential Exterior: Vinyl Fencing: None Flooring: Carpet; Vinyl/Linoleum Foundation: None Fuel: Electric; Propane Heating: Baseboard; Forced Air Loan Terms: Cash; Conventional On Site Utilities: Electric Common; Heating Common; Hot Water Common Owner Pays: All Utilities; Electricity; Gas; Grounds Care; Heat; Insurance; Sewer; Water Parking Characteristics: Parking Lot; Assigned; Uncovered/Open Rent Rate per Foot: Per Month Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Asphalt Shingles Sewer: City Sewer/Connected Stories: One Tenant Pays: Cable TV; Telephone Topography: Level Wall Description: Drywall; Finished Water: City Water/Connected

Contract Information

Contingency: Other
ListPrice: 287500
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 601 & 603
Street Name: Main
Street Suffix: Street
Postal City: Oklee
County: Red Lake
State: MN
Zip Code: 56742
Complex/Dev/Subdivision: Okl-Golf Course Add

Assessments

Tax With Assessments: 4178

Basement

Foundation Dimensions: 48x54

More Information

Building Information

Building Finished SqFt: 6000
Building SqFt: 2928

Income and Expenses

Annual Electric Expense: 7380
Annual Gross Income: 62400
Annual Insurance Expense: 6106
Annual Maintenance Expense: 3000
Annual Trash Expense: 936
Annual Water/Sewer Expense: 3432

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building, Land

Unit 1

Unit Number: Yes
Monthly Rent: 650
Full Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 5
Level: Main Level
Unit Total SqFt: 650
Leased?: Yes
Lease Expiration Date: 2025-01-01
No. of 1 Bedroom Units: 8

Unit 2

Full Baths: Yes
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 5
Unit Number: 2
Unit Total SqFt: 650

Unit 3

Full Baths: Yes
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 5
Unit Number: 3
Unit Total SqFt: 650

Unit 4

Full Baths: Yes
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 5
Unit Number: 4
Unit Total SqFt: 650

Unit 5

Full Baths: Yes
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 5
Unit Number: 5
Unit Total SqFt: 650

Unit 6

Full Baths: Yes
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 5
Unit Number: 6
Unit Total SqFt: 650

Unit 7

Full Baths: Yes
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 5
Unit Number: 7
Unit Total SqFt: 650

Unit 8

Full Baths: Yes
Lease Expiration Date: 2025-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 650
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 5
Unit Number: 8
Unit Total SqFt: 650

Unit Details

Total Units: 8

Listing Office: Nordin Realty Inc.

Last Updated: September - 16 - 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.

601 & 603 Main Street, Oklee, MN 56742 (MLS# 7120186)