17-8th Street, Cloquet, MN 55702. I have owned Victory Apartments for nearly 10 years. A job transfer takes me out of the area. It produces monthly cash flow and a depreciation deduction on my Form 1040 each year of $9,989. We are typically 100% occupied. We were chosen for a citywide housing grant from the City of Cloquet. As a result, in the past several years, we have received the following: Maintenance free vinyl siding New vinyl windows New roof New hot water heater I also replaced the boiler in 2007. Victory is designed for low-to-moderate income tenants and we participate in various housing assistance programs to help to offset our tenants rent. I like these programs because they pay on the 1st of the month without question. This is a 12 unit building located near downtown Cloquet, Minnesota. It consists of efficiency apartments and one or two bedroom units. Rents range from $335 to $585 per month. This building averages $55,890 revenues per year. It is professionally managed and it is 100% occupied. Victory is HUD certified for renter's assistance. We are also eligible for Fond du Lac funded tenants and other government assistance programs. I like the City of Cloquet, in part, because I dont have to deal with the licensing restrictions found in the Duluth market. Showings available by appointment. Additional property info: http://www.forsalebyowner.com/listing/12-bed-Multi-Family-home-for-sale-by-owner-17-8th-Street-55720/24003858?provider_id=28079
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