11024-11038 183rd Circle NW, Elk River, MN 55330 (MLS# 7037372)

11024-11038 183rd Circle NW, Elk River, MN 55330

$2,400,000
Property Type: Commercial Bedrooms: 16 Baths: 16 Square Footage: 1,442 Lot Size (sq. ft.): 77,537 Status: Active
Current Price: $2,400,000 List Date: 3/16/2026 Last Modified: 7/31/2026

Overview

Description

55+ 1-Level rental community built in 2020. Hard to find investment opportunity. Community consists of 4 twin homes (8 units). Each unit has a separate PID to provide for residential v.s commercial property tax rate and ease of forming association if owner wanted to sell units individually. Units boast a great floorplan and are well appointed. Very stable and loyal tenant base that have been taking great care of their respective units. Conveniently located on a quiet cul-de-sac and close to local shopping and the Hwy 101/169 corridor.

Listing Details MLS# 7037372

General Property Information

Lot Measurement
Acres
Multiple PIDs?
Yes
Other Parking Spaces
16
Owner Occupied
No
Waterfront YN
No
Year Built
2020
Yearly/Seasonal
Yearly
Zoning
Residential-Single Family
Foundation Size
1442
Garage Stalls
2
For Sale or Lease
For Sale
Acres
1.78
Lot Dimensions
211x302x391x339
Assessment Pending
No

Property Features

Accessible: No Stairs External; No Stairs Internal Air Conditioning: Central Air Amenities Unit: Ceiling Fan(s); In-Ground Sprinkler; Kitchen Center Island; Main Floor Primary Bedroom; Paneled Doors; Patio; Primary Bedroom Walk-In Closet; Washer/Dryer Hookup; Other Appliances: Air-To-Air Exchanger; Dishwasher; Disposal; Dryer; Microwave; Range; Refrigerator; Washer Basement: None CMU Style: Apartments/Multi Family; Duplex Side by Side; Low Rise Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone; Metal; Vinyl Flooring: Carpet; Luxury Vinyl Plank Foundation: Slab Fuel: Natural Gas Heating: Forced Air Loan Terms: Cash; Conventional Lot Description: Tree Coverage - Medium On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate Overhead Door Clearance: 0-9 Feet Owner Pays: Common Area Maintenance; Grounds Care; HVAC Maintenance; Insurance; Lawn; Lawn; Maintenance/Repair; Repairs; Roof Maintenance; Snow Removal; Taxes Parking Characteristics: Insulated Garage; Paved Lot Pool Description: None Potential Use: Income Rent Rate per Foot: Gross Rental License Type: Standard Road Frontage: City Street; Cul De Sac; Paved Streets Road Responsibility: Public Maintained Road Roof: Age 8 Years or Less; Asphalt Shingles; Pitched Sewer: City Sewer/Connected Stories: One Tenant Pays: All Utilities Topography: Level Wall Description: Drywall Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
2400000
Owner is an Agent?
Yes
Auction?
No

Location Tax and Other Information

House Number
11024-11038
Street Name
183rd
Street Suffix
Circle
Street Direction Suffix
NW
Postal City
Elk River
County
Sherburne
State
MN
Zip Code
55330
Complex/Dev/Subdivision
Mulvaney Point Twin Homes

Additional Parcels Information

Property ID #2
75009040110
Property ID #3
75009040115,75009040120,75009040125,75009040130,75009040135,75009040145,75009040140

Assessments

Tax With Assessments
30528

More Information

Building Information

Building Finished SqFt
1442
Building SqFt
1442
Ceiling Height
8-10

Income and Expenses

Annual Gross Expenses
53000
Annual Gross Income
210720
Annual Insurance Expense
9530
Annual Maintenance Expense
7000
Annual Net Income
157720
Annual Water/Sewer Expense
1500
Total Annual Expenses
53000

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Parking Characteristics

Garage Door Height
7
Garage Door Width
16
Garage Square Feet
450

Public Survey Info

Range#
26
Section#
35
Township#
33

Sale Options

Sale Includes
Building, Land, Rental License

Unit 1

Unit Number
11024
Monthly Rent
2195
Full Baths
Yes
Three-Quarter Baths
Yes
Total Bathrooms
2
Total Bedrooms
2
Total Rooms
7
Level
Main Level
Unit Total SqFt
1442
Leased?
Yes
Lease Expiration Date
2027-04-01

Unit 2

No. of 2 Bedroom Units
8
Full Baths
Yes
Lease Expiration Date
2027-04-01
Leased?
Yes
Level
Main Level
Monthly Rent
2195
Three-Quarter Baths
Yes
Total Bathrooms
2
Total Bedrooms
2
Total Rooms
7
Unit Number
11026
Unit Total SqFt
1442

Unit 3

Full Baths
Yes
Lease Expiration Date
2027-04-01
Leased?
Yes
Level
Main Level
Monthly Rent
2195
Three-Quarter Baths
Yes
Total Bathrooms
2
Total Bedrooms
2
Total Rooms
7
Unit Number
11028
Unit Total SqFt
1442

Unit 4

Full Baths
Yes
Lease Expiration Date
2027-04-01
Leased?
Yes
Level
Main Level
Monthly Rent
2195
Three-Quarter Baths
Yes
Total Bathrooms
2
Total Bedrooms
2
Total Rooms
7
Unit Number
11030
Unit Total SqFt
1442

Unit 5

Full Baths
Yes
Lease Expiration Date
2027-04-01
Leased?
Yes
Level
Main Level
Monthly Rent
2195
Three-Quarter Baths
Yes
Total Bathrooms
2
Total Bedrooms
2
Total Rooms
7
Unit Number
11032
Unit Total SqFt
1442

Unit 6

Full Baths
Yes
Lease Expiration Date
2027-04-01
Leased?
Yes
Level
Main Level
Monthly Rent
2195
Three-Quarter Baths
Yes
Total Bathrooms
2
Total Bedrooms
2
Total Rooms
7
Unit Number
11034
Unit Total SqFt
1442

Unit 7

Full Baths
Yes
Lease Expiration Date
2027-04-01
Leased?
Yes
Level
Main Level
Monthly Rent
2195
Three-Quarter Baths
Yes
Total Bathrooms
2
Total Bedrooms
2
Total Rooms
7
Unit Number
11036
Unit Total SqFt
1442

Unit 8

Full Baths
Yes
Lease Expiration Date
2027-04-01
Leased?
Yes
Level
Main Level
Monthly Rent
2195
Three-Quarter Baths
Yes
Total Bathrooms
2
Total Bedrooms
2
Total Rooms
7
Unit Number
11038
Unit Total SqFt
1442

Unit Details

Total Units
8
IDX
Listing Office: Acuity Group
Last Updated: July - 31 - 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.
Search powered by FBS Products