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1902 & 2008 8 1/2 Street SE Rochester, MN 55904 Listing ID: 6582454

Price: $6,500,000.00

Property Description

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 6.55 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.

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  • 6.550 Acres

Primary Features

County

Olmsted

School District

Rochester

Year Built

1978

Age

46 yrs old

Style

Apartment, Low Rise

Property Type

Commercial Sale

Lot Size

594x404

Acreage

6.55 acres

Property Taxes

$57,173

Additional Features

Basement

Full, Slab

Driveway

Exterior

Vinyl Siding

Exterior Construction

Foundation

1.00

Fuel Source

Natural Gas

Heating

Baseboard

Section

6

Service Amps

Sewer

City Sewer/Connected

Subdivision

Cavalier Condos

Tax Year

2024

Terrain

Utilities

Electric Separate, Heating Separate, Hot Water Separate

Water

City Water/Connected

Water Heater

Zoning

Business/Commercial, Residential-Multi-Family

Includes

Cooktop, Refrigerator, Building, Fixture/Equipment, Land, Leases, Rental License

Directions

Highway 14 and College Dr SE to 8 1/2 St SE.

Listing Agency

Listing courtesy of
RE / Max Results
(651) 251-4800

Broker Compensation (view terms): 2.40%

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