NEW LISTING – 1505 Russell Ave N – $215,000*

September 6, 2019 by · Leave a Comment 

Newly constructed multi-generation home featuring a single-family home and an attached Accessory Dwelling Unit (ADU). This unique design includes the following features:

  • 3BR/1.5BA (Single-Family) / 1BR/1BA (ADU)
  • Engineered Wood Floors
  • Stainless Steel Appliances
  • Kitchen Island with Convenient Breakfast Bar
  • Separate Entrances
  • Shared Mudroom/Laundry Room with Laundry Hook-Up
  • Large Front Porch
  • 2-Car Detached Garage
  • Energy Star Certified
  • Full Basement with New Mechanicals

*

*Actual fair market value is $270,000 (based on a July 2019 appraisal). Based on this valuation, the CLCLT affordability investment in this property is $55,000.

Additional Requirements:

1.   Home must be sold to owner-occupant.

2. Income and resale restrictions apply to the purchase of this property.

3. For an offer to be considered, interested homebuyers need to:

  • Complete CLCLT application (click here) including income verification;
  • Attend a CLCLT orientation on Tuesday, September 17, 2019 at 5:30 p.m. located at the CLCLT offices, 1930 Glenwood Ave, Minneapolis, 55405;
  • Obtain pre-approval letter from CLT-compatible mortgage lender (click here for the complete list)

4.   Deadline for all offers and items 3a – 3c above is Midnight on Wednesday, September 18, 2019.

5.   Final decision will be made by the CLCLT at 5 p.m. on Monday, September 23, 2019.

6. Buyer must attend the following classes and present certificates of completion prior to closing:

  • HUD-approved first-time homebuyer Home Stretch Workshop presented by Minnesota Homeownership Center (hocmn.org)
  • Housing Maintenance Workshop presented by City of Lakes Community Land Trust (to be scheduled after offer accepted)

For more information contact Jennifer at 612.594.7145. To schedule a showing click here.

About Jennifer Sturtz


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