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Rochester,MN 55904
Key Details
Property Type Condo, Commercial
Sub Type Apartment,Low Rise
Listing Status Active
Purchase Type For Sale
Subdivision Cavalier Condos
MLS Listing ID 6582454
Year Built 1978
Annual Tax Amount $57,173
Tax Year 2024
Contingent None
Lot Size 6.550 Acres
Acres 6.55
Lot Dimensions 594x404
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.
Location
State MN
County Olmsted
Zoning Business/Commercial,Residential-Multi-Family
Rooms
Basement Full,Slab
Interior
Heating Baseboard
Inclusions Building,Fixture/Equipment,Land,Leases,Rental License
Fireplace No
Appliance Cooktop,Refrigerator
Exterior
Garage Paved,Unassigned,Open
Utilities Available Electric Separate,Heating Separate,Hot Water Separate
Roof Type Age Over 8 Years
Present Use Commercial,Residential
Parking Type Paved,Unassigned,Open
Building
Story Two
Foundation 1
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Vinyl Siding
Schools
School District Rochester