For Sale: Rochester MLS# 6633791
Active Contingent
$5,895,000
Commercial: Apartment,Low Rise
Built 1978
5.45 acres
Rochester schools
MLS# 6633791
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
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.
Listing
Listing Status:
Active Contingent
Contingency:
Inspection
List Price:
$5,895,000
Property Type:
Commercial
City:
Rochester
Garage Spaces:
0
County:
Olmsted
Year Built:
1978
State:
MN
Property Style:
Apartment, Low Rise
Zip Code:
55904
Subdivision Name:
Cavalier Condos
Interior
Appliances Included:
- Cooktop
- Refrigerator
Basement Details:
- Full
- Slab
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
0
Foundation Size:
1 ft2
Handicap Accessible:
None
Heating System:
Baseboard
Parking Features:
- Open
- Paved
- Unassigned
Exterior Material:
Vinyl Siding
Roof Details:
Age Over 8 Years
Lot & Land
Acres:
5.45
Geolocation:
44.012856, -92.434563
Inclusions:
Building, Fixture/Equipment, Land, Leases, Rental License
Lot Dimensions:
594 x 404
Addl Parcels:
630632084743
Zoning:
- Business/Commercial
- Residential-Multi-Family
Schools
School District:
535
District Phone:
507-328-3000
Expenses
Tenant Expenses:
Cable TV, Electricity, Fuel
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$57,173
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$57,735
Units
Total Units:
80
Miscellaneous
Current Use:
- Commercial
- Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
Water System:
City Water/Connected
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
Listing provided by RMLS,
courtesy of RE/MAX Results.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.