2155 6th Lane Se, Unit 206, Cambridge, MN 55008

Property Description

Welcome to East Terrace Cooperative,a Hidden Gem in Cambridge, MN.Nestled in a lovely residential neighborhood, East Terrace Cooperative is a premier 55+ community just minutes away from excellent shopping, dining, and recreation. Here, you can truly enjoy maintenance-free living at its finest! When you purchase a share in this cooperative, your investment grows while you enjoy lower monthly costs through shared services.?How it works: You are purchasing the equity paid by the seller and assuming a portion of the building's master mortgage allocated to your specific unit.?Simple qualification: Once financially qualified, you assume your share of the master mortgage, making the transition seamless.What's Included?Your monthly member fee of $1,732.00 takes the guesswork out of budgeting. It is an all-inclusive fee that covers:?Financials: Your portion of the master mortgage (principal, interest, and mortgage insurance), property taxes, and master building insurance.?Utilities: Heat, water, sewer, trash removal, internet, cable, phone, and common area electricity/AC.?Maintenance & Management: Professional management, standard replacements, and all repairs/maintenance for both your unit and common areas (including appliances and fixtures). Member Responsibility: Members are only responsible for their personal unit electricity and an HO6 insurance policy.Home & Community FeaturesEnjoy a spacious, one-level layout boasting 1,067 square feet of comfortable living space with recent modern updates.Beyond your front door, you'll have access to fantastic, shared amenities:?Community room & library?Fitness area & workshop?Large outdoor deck?On-site car wash?Convenient laundry rooms on each levelAt East Terrace, you aren't just buying a share in a cooperative; you're joining a community. You even have the opportunity to join a committee and have a direct voice in the cooperative's operations!