2155 6th Lane SE #206, Cambridge, MN 55008

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 Features
Enjoy 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 level
At 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!