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Kevin Mullen & Beth Andrews Sell Tonka Bay Single Family Home For $6.2M

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SOLD
$6,225,000

Minnesota

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Single Family5,102 SF
Sold 02/01/2023
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SOLD

Kevin Mullen & Beth Andrews Sell Tonka Bay Single Family Home For $6.2M

275 Lakeview Avenue,Tonka Bay, Minnesota

See Similar Deals
Single Family5,102 SF
Sold 02/01/2023
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Summary

MINNESOTA
Asset Type:Single Family
Price Per Square Foot:$1,220
Total Square Footage:5,102 SF
Transaction Type:Sale

The single-family property located at 275 Lakeview Avenue in Tonka Bay, MN has been sold for $6,225,000. The property spans across 5,102 square feet, resulting in a price per square foot of $1,220. The sale was facilitated by Kevin Mullen of Lakes Sotheby's International Realty, representing the buyer, and Beth Andrews of Coldwell Banker Realty, representing the seller.

Summary of transaction details:

Kevin Mullen from Lakes Sotheby's International Realty represented the buyer in this transaction. Beth Andrews from Coldwell Banker Realty represented the seller in the deal.

Players

Kevin Mullen
1 deal$6.2M volume(612) 581-8969
BROKER

Beth Andrews
Coldwell Banker
1 deal$6.2M volume(612) 801-2041
BROKER

Details

SOLD
IMAGE: Kevin Mullen & Beth Andrews DATE: 02/01/2023 ADDRESS: 275 Lakeview Avenue MARKET: Tonka Bay, MN ASSET TYPE: Single Family BUYER'S REP: Kevin Mullen - Lakes Sotheby's International Realty SELLER'S REP: Beth Andrews - Coldwell Banker Realty SALE PRICE: $6,225,000 SF: 5,102 ~ PPSF: $1,220

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$331,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,116.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,509.68
Annual Debt Service$354,116.11