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$5,895,000
Est. payment /mo
237,402 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 237,402 sqft
Price per Sqft $24
Subdivision Cavalier Condos
MLS Listing ID 6633791
Year Built 1978
Annual Tax Amount $57,735
Lot Size 5.450 Acres
Acres 5.45
Lot Dimensions 594x404
Property Description
$500,000 Price Reduction! 80 Unit Multifamily Investment Opportunity in the heart of highly desirable Rochester. 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). Current ownership remodeled most all of the units since their acquisition in 2016. Properties are enrolled in the 4(d) affordable housing program. 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. all buildings are similar with solid construction and quality finishes throughout. Zoning is R3 Medium Density Residential.
Location
State MN
County Olmsted
Community Cavalier Condos
Direction Highway 14 and College Dr SE to 8 1/2 St SE.
Rooms
Basement Full, Slab
Interior
Heating Baseboard
Exterior
Parking Features Paved Lot, Unassigned, Uncovered/Open
Utilities Available Electric Separate, Heating Separate, Hot Water Separate
Roof Type Age Over 8 Years
Accessibility None
Building
Water City Water/Connected
Others
Senior Community No
Tax ID 630632084742
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