1902-2008 8 1/2 St SE - Apartments FOR SALE


Rochester, MN 55904
$6,395,000 USD
239-900-7995
1902-2008 8 1/2 St SE, Rochester, MN for Sale
$6,395,000 USD
Apartments - FOR SALE
1/45
null | Request Cap Rate

1902-2008 8 1/2 St SE
Rochester, MN 55904


HIGHLIGHTS

  • 80 units with 76 online compromised of 10 buildings
  • 5.45 Acres on 2 adjacent parcels with likely ability to build 4-5 more buildings
  • Turn-key, stable investment with upside
  • 75 units with 3 beds/2 baths & 5 units with 2 beds/2 baths, Spacious units with 1,100 finished square feet
  • On Site Parking for residents with ~160 Parking Spaces, Professional in-house Management in place
  • Desirable location in Rochester, MN with close proximity to local conveniences and services

OVERVIEW

Results Commercial is pleased to present For Sale an 80 Unit Multifamily Investment Opportunity in the heart of highly desirable Rochester, MN. This offering features 10 buildings, totaling 80 units with 76 actively online. The properties are stable, but still offer value add potential with below market rental rates and the ability to build another 4-5 buildings (with necessary approvals). The properties are enrolled in the 4(d) affordable housing program. Current ownership remodeled most all of the units since their acquisition in 2016. Built in 1979 with 93,600 square feet, 2 adjacent parcels on 5.45 acres offering an ideal blend of space and comfort for residents. The portfolio totals 80 units, comprised of 75 units with 3 beds and 2 baths and 5 units have 2 beds and 2 baths. Each unit is spacious with 1,100 finished SF. Plenty of parking for the buildings with over 160 spaces. All buildings are similar with solid construction and quality finishes throughout. Zoning is R3 Medium Density Residential (see zoning page). Contact the Listing Brokers, Mark Hulsey and Hayden Hulsey, CCIM for the rent rolls/expenses and tours.

FOR SALE DETAILS

PRICE

$6,395,000 USD

PRICE/SF

$68 USD /SF

# OF UNITS

80

PRICE/UNIT

$79,938

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Andover Park Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

160

LAND DETAILS

LAND ACRES

5.45 AC

LAND SF

237,402 SF

ZONING

R3

APN/PARCEL ID

63.06.32.068028,63.06.32.080488

ASK ABOUT THIS PROPERTY

Mark HulseyResults CommercialMore Info
239-900-7995

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Mark HulseyResults CommercialMore Info
239-900-7995

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