371 Water Street
Excelsior (MN) 55331
$1,485,000
Closed
StatusClosed
Beds6
Baths5
Living Area2929
YR1858
School District276
DOM27
Public Remarks
This is a rare opportunity to live and/or work in the heart of the Excelsior village at the Bird House Inn property which is currently operating as a VRBO/Bed & Breakfast hybrid. Revenue from whole house rentals is on average 10% more than revenue generated from full occupancy in the B&B model. Structures include a 6 bed, 5 bath, 3,000 sq ft B&B structure built in 1858 and a 3 bed, 1 bath, 1,300 sq ft cottage built in 1990. The cottage is currently used as an owner's residence and includes a 2 car, attached, heated garage. All of this is set on a beautiful, private, .44 acre lot along prime, historic Water Street with an abundance of flat, green space and off street parking for up to 17 vehicles. The property has been vigorously maintained and extensively improved by the current owners. Improvements to the B&B structure include a new foundation, a new 1" water main, new 100 amp service and renovated bathrooms with heated floors and high end finishes. The cottage was renovated in 2015.
Quick Specifications
Price :
$1,500,000
Status :
Closed
Property Type :
Residential
Beds :
6
Year Built :
1858
Approx. Sq. Ft :
2929
School District :
276
Taxes :
$ 12025
MLS# :
5730388
Interior Features
Foundation Size :
1723
Fireplace Y:N :
5
Baths :
5
Bath Desc :
Two Primary Baths,Bathroom Ensuite,Full Primary,Private Primary,Main Floor Full Bath,Upper Level Full Bath,Primary Walk-Thru,Jetted Tub,Walk-In Shower Stall,Walk Thru
Lot and Location
PostalCity :
Hennepin
Zip Code :
55331
Directions :
West on Hwy 7, right onto Oak St/CR 19, right onto Water St
Lot Description :
Corner Lot, Tree Coverage - Medium
Lot Dimensions :
100 X 184
Road Frontage :
City Street, Paved Streets, Sidewalks
Zoning :
Business/Commercial
School District :
276
School District Phone :
952-401-5000
Structural Features
Class :
Residential
Basement :
Full, Unfinished
Exterior :
Wood Siding
Garage :
4
Accessibility Features :
None
Roof :
Age Over 8 Years, Asphalt
Sewer :
City Sewer/Connected
Water :
City Water/Connected
Financial Considerations
DPResource :
N
Foreclosure Status :
No
Lender Owned :
No
Potential Short Sale :
No
Latitude :
44.9010235519
MLS# :
5730388
Style :
Single Family Residence
Tax Amount :
$ 12025
Tax With Assessments :
12025.0000
Tax Year :
2020