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Marc Hedlund

marc@iheartexit.com +1(701) 730-4440

$999,900

Est. payment - /mo

1.3 Acres Lot

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 7036914

Year Built 1969

Annual Tax Amount $13,792

Tax Year 2025

Contingent None

Lot Size 1.300 Acres

Lot Dimensions 160x360x160x360

Property Description

100% Occupied 16 Unit Apartment Building With Immediate Cash Flow Generating $140,000 in annual gross income on the edge of town surrounded by farm fields, park across the street, and long history of low vacancies only minutes from Cold Spring, I-94 and the large St. Cloud Metro. Only a few vacancies in the past 5 years and immediately filled. Two 1970 brick buildings consisting of 12 - Two Bedroom units averaging $775 in rent with market rents being around $900 and 4 - One Bedroom units averaging $650 in rent with market rents being around $750 per unit. Many recent updates including architectural shingles, vinyl windows, and nearly all units have been updated such as the three units in photos with newer flooring, paint, kitchen, appliances, bathrooms & fixtures. Two new sets of coined washer/dryer for additional income. Hot water boiler heat the owner pays for gas, plus water, sewer, garbage, snow removal and lawn care. Tenants pay for electric heat with 16 separate electric meters and AC units on 60 amp fuses. 6 garage stalls and blacktop parking lot. Annual expenses Include: Insurance $9,365, Taxes $13,950, Garbage $6,500
Water/Sewer $12,000, Electric $3,800, Gas $7,500
This is a rare find and opportunity to own a TURN KEY cash flowing apartment building.

Location

State MN

County Stearns

Zoning Business/Commercial,Residential-Multi-Family

Interior

Heating Boiler, Hot Water

Cooling Wall Unit(s)

Inclusions Building, Leases

Fireplace No

Exterior

Parking Features Detached Garage, Asphalt, Multiple Garages, Paved Lot, Unassigned

Garage Spaces 6.0

Utilities Available Heating Common, Hot Water Common

Roof Type Asphalt,Pitched

Present Use Residential

Building

Lot Description Corner Lot, Tree Coverage - Light

Story Two

Foundation 3744

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Two

New Construction false

Schools

School District Rocori

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Listed by Matthew Imdieke • Central MN Realty LLC

Nearby School & Business

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Marc Hedlund

+1(701) 730-4440

Broker | License ID: 40339406

Broker License ID: 40339406

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314 County Road 8 Rockville, MN 56369

Marc Hedlund

Key Details

Location

Interior

Exterior

Building

Schools

Nearby School & Business

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