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For Sale:  Rochester MLS# 6633791

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Active NEW!
$6,395,000
/mo Edit
Commercial:  Apartment,Low Rise
Built 1978
5.45 acres
Rochester schools
MLS# 6633791
763-576-8286
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    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 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
    Contingency: None
    List Price: $6,395,000
    Property Type: Commercial
    City: Rochester
    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
    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.
    Payment:  /mo

    Local Home Mortgage Professionals

    651-253-2144
    Jason & Kim Stone
    Branch Manager & Co-Branch Manager
    Fairway Mortgage    NMLS#1018649
    Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.

    Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.

    Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
    It would be our pleasure to assist you with your home purchase!

    Apply Online     Home Purchase Qualifier     Refinance Rate Checker    

    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.