331 Fox Lake Ave - Apartments FOR SALE


Sherburn, MN 56171
$800,000 USD
651-500-4720
331 Fox Lake Ave, Sherburn, MN for Sale
$800,000 USD
Apartments - FOR SALE
1/24
null | 10.38% Cap Rate

331 Fox Lake Ave
Sherburn, MN 56171


HIGHLIGHTS

  • This turnkey investment includes 16 fully occupied apartment units with coin operated laundry facilities.
  • Located on the eastern edge of town near Temperance Lake, and within five minutes of Interstate 90, the area’s main commuter corridor.
  • Operations are supported by a large pipeline of potential future residents, with 21% of locals currently renting their homes.
  • The community includes two buildings, each with 7 two-bedroom apartments, 1 one-bedroom apartment, and 100-gallon electric water heaters.

OVERVIEW

The Village Apartments in Sherburn is a fully occupied, well managed, meticulously maintained, stabilized investment opportunity. This sixteen-unit complex consists of two buildings, each with seven, two-bedroom apartments and one, one-bedroom apartment. Both buildings have dual 100-gallon electric water heaters and a common laundry room with a laundry sink and coin operated washer and dryer. Sherburn is a serene community that rests against the shores of Fox Lake and Temperance Lake. The peaceful enclave is bounded by Interstate 90, the main commuter artery of the region which connects to Sioux Falls in approximately 90 minutes. More than 21% of Sherburn’s residents currently rent their homes, ensuring a stable pipeline of potential future tenants for the Village Apartments.

FOR SALE DETAILS

PRICE

$800,000 USD

PRICE/SF

$60 USD /SF

# OF UNITS

16

PRICE/UNIT

$50,000

CAP RATE

10.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Village Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1975

PARKING SPACES

24

LAND DETAILS

LAND ACRES

1.32 AC

LAND SF

57,499 SF

ZONING

Multi family

APN/PARCEL ID

382150020

ASK ABOUT THIS PROPERTY

Kevin GoettlKevin GoettlMore Info
651-500-4720

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Kevin GoettlKevin GoettlMore Info
651-500-4720

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