For Sale: Sauk Rapids MLS# 7092664
Active
$1,549,900
Commercial: Other
Built 1965
0.92 acres
Sauk Rapids-Rice schools
MLS# 7092664
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Property Description
Village View Apartments is a perfectly located multi-family asset with 21-units, one block off the main-street in downtown Sauk Rapids, Minnesota. This value-add opportunity in the Saint Cloud metro area sits on a full block with 0.92 acres and consists of a 12-unit, an 8-unit and a single-family home. The unit mix on the apartments is 17 two bedroom and 3 one bedroom all with one bathroom. Professionally managed by Granite City Real Estate Partners. They would entertain staying on with a new owner for management making this a very smooth transition. The apartment buildings are all brick exterior and include twelve detached garages. All the pitched gable roofs were replaced in 2020.
Apartments were constructed in 1965 and the sale includes a one and a half story single family home with three bedrooms and two bathrooms. These are very well-maintained properties and feature a mix of one and two-bedroom units all with one bathroom, providing a variety of options for potential renters. Additionally, the property includes a spacious parking lot with additional off-street separate parking spaces, ensuring that tenants have ample space to park their vehicles.
The exterior of the property is well-maintained and features a classic brick façade and newer vinyl windows, while the interior of the units are spacious and have updated appliances. The property is conveniently located near major highways and the downtown Sauk Rapids and Saint Cloud areas, making it easy for tenants to enjoy all the amenities both cities have to offer.
Investors looking for a value-add opportunity with strong cash flow potential will appreciate the low maintenance costs and high rental demand in the area. Don't miss out on this rare opportunity to own a property that is super clean and well maintained and also in a non-rent controlled city of Minnesota!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,549,900
Property Type:
Commercial
City:
Sauk Rapids
Garage Spaces:
14
County:
Benton
Year Built:
1965
State:
MN
Property Style:
Other
Zip Code:
56379
Subdivision Name:
Town Of Sauk Rapids
Interior
Ceiling Height:
8-10
Flooring:
Carpet, Tile, Vinyl
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Exterior
Stories:
Three Or More
Garage Spaces:
14
Air Conditioning:
Wall Unit(s)
Foundation Size:
6,250 ft2
Fencing:
None
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Boiler
- Hot Water
Parking Features:
- Attached Garage
- Detached Garage
Unit Amenities:
- Ceiling Fan(s)
- Tile Floors
Road Frontage:
- City Street
- Paved Streets
Exterior Material:
- Brick
- Frame
Pool:
None
Roof Details:
- Age 8 Years or Less
- Asphalt
- Pitched
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.92
Geolocation:
45.588596, -94.162838
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
132 x 300
Addl Parcels:
190029600, 190029700
Zoning:
Residential-Multi-Family
Lot Description:
- Corner Lot
- Tree Coverage - Medium
Farm
Topography:
Level
Schools
School District:
47
District Phone:
3202534703
Expenses
Annual Caretaker Expense:
$11,506
Annual Electric Expense:
$3,000
Annual Fuel Expense:
$13,000
Annual Insurance Expense:
$11,803
Annual Maintenance Expense:
$10,500
Annual Trash Expense:
$7,800
Annual Water/Sewer Expense:
$7,100
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$24,464
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$24,464
Income
Annual Gross Income:
$230,139
Rent
Annual Net Income:
$132,245
Units
Total Units:
21
Miscellaneous
Current Use:
Residential
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Apartment Cash Flow, Inc..
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.