1310-1320 6th Ave S - Apartments FOR SALE


Saint Cloud, MN 56301
$1,100,000 USD
320-267-4576
1310-1320 6th Ave S, Saint Cloud, MN for Sale
$1,100,000 USD
Apartments - FOR SALE
1/17
null | Request Cap Rate

1310-1320 6th Ave S
Saint Cloud, MN 56301


HIGHLIGHTS

  • Sale is Being Offered with a Six (6) Rental Income Guarantee to Transition to New Management (Contact Broker for Details)
  • Many Upgrades/Enhancements at Both Buildings
  • 12 Total Units | (4) 2 Bedroom Units | (8) 4 Bedroom Units
  • Excellent 1031 Exchange Replacement

OVERVIEW

CBC Orion Real Estate Advisors are pleased to offer for sale Sixth Avenue Apartments, located at 1310/1320 6th Avenue South & 519 14th Street South. Conveniently located in Saint Cloud in close proximity to Parks, Schools, and Downtown. Location is approximately 60 miles from the Twin Cities. Offering consists of (2) – Two story apartment buildings totaling 11,920 +/- square feet on .95 acre site, with total of Twelve (12) Apartment Units. There is one oversized garage out building and excess land which could be expanded or potential to build additional units. Unit mix consists of (4) - 2-bedroom units and (8) 4-bedroom units. Unit layouts consist of kitchen, dining, spacious living area, ample closet space, and 1-bathroom . Units are nicely equipped with range/oven, fridge/freezer, dishwasher and wall AC unit. Additionally, there are coin operated laundry facilities on site. These apartment buildings were substantially renovated in 2018, with improvements consisting of new roof (1310/1320 bldg.) brand new custom kitchen and bathroom cabinetry, granite countertops (1310/1320 bldg.), all new appliances, luxury vinyl plank flooring, and much more (finishes vary by location). 1310/1320 Bldg. – All 8 units fully renovated in 2018, with improvements consisting of all new upgraded appliance packages, new custom kitchen cabinets, granite countertops, new flooring, new custom bathroom vanities, and much more. Additional building updates include new roof installed in 2018, enhanced exterior LED security lighting, landscaping around building, and more. Newer windows. Tenant paid electric heat. 519 Building – Two of the four units have been fully renovated with new custom kitchen cabinets and custom bathroom vanities. All units updated over the years. The city of Saint Cloud has a population of over 70,000 and the market has over 105,000 people in 5-mile radius. This offering represents an excellent opportunity to acquire these nicely update apartment buildings in a strong rental market. Sale is Being Offered with a Six (6) Rental Income Guarantee to Transition to New Management (Contact Broker for Details). *** Offered For Sale at $1,100,000 *** Contact Scott Schmitt, CCIM with CBC Orion Real Estate Advisors for further details on this offering (320) 267-4576

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$92 USD /SF

# OF UNITS

12

PRICE/UNIT

$91,667

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

SIXTH AVENUE APARTMENTS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1983

PARKING SPACES

35

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

-

APN/PARCEL ID

82.44682.0006,82.44682.0008,82.44683.0000

ASK ABOUT THIS PROPERTY

Scott M. Schmitt, CCIMCBC ORION REAL ESTATE ADVISORS, INC.More Info
320-267-4576

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Scott M. Schmitt, CCIMCBC ORION REAL ESTATE ADVISORS, INC.More Info
320-267-4576

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