1220 N Front St - Apartments FOR SALE


Crookston, MN 56716
$525,000 USD
701-330-5690
1220 N Front St, Crookston, MN for Sale
$525,000 USD
Apartments - FOR SALE
1/36
null | 6.82% Cap Rate

1220 N Front St
Crookston, MN 56716


HIGHLIGHTS

  • Lots of value-add potential.
  • Room to build garages or more rentals potentially.
  • High demand affordable rentals.

OVERVIEW

Investment Opportunity in Crookston, MN! Park Apartments - a 15-unit multifamily complex offering strong occupancy and significant value-add potential. Currently 93.3% occupied, with rents well below market - providing an excellent opportunity for immediate income growth.$28.9K+ in targeted renovations have been completed across select units in past 24 months. Boiler replaced in 2021. Affordable Units with Upside: Efficiency/studio units with private entrances, and on-site coin laundry, with loads of parking and green space. Prime Location: Conveniently located near local amenities, including grocery stores and shops, ensuring consistent tenant demand. Lots of surrounding land for ample value add opportunities. Contact us today to schedule a private tour and receive full financials. 3-year financial history available with signed NDA. Showings case by case - vacant units available for immediate access. Serious buyers will have an opportunity to see occupied units at a TBD date. Text or email preferred: 701-330-5690 or derek@truhomeproperties.com. Square footage is estimated, please verify. Package opportunity with 10-unit MFH in Mayville, ND. Inquire for details.

FOR SALE DETAILS

PRICE

$525,000 USD

PRICE/SF

$101 USD /SF

# OF UNITS

15

PRICE/UNIT

$35,000

CAP RATE

6.82%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Park Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.52 AC

LAND SF

66,211 SF

ZONING

-

APN/PARCEL ID

82.00897.00

ASK ABOUT THIS PROPERTY

Derek NolteTruHome RealtyMore Info
701-330-5690

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Derek NolteTruHome RealtyMore Info
701-330-5690

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.