1902 & 2008 8 1/2 ST SE, Rochester, MN 55904

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Luke Chase

luke@ts-re.com +1(612) 418-9979

$5,895,000

Est. payment - /mo

5.45 Acres Lot

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UPDATED:

Key Details

Property Type Commercial

Listing Status Contingent

Purchase Type For Sale

Subdivision Cavalier Condos

MLS Listing ID 6633791

Year Built 1978

Annual Tax Amount $57,173

Tax Year 2024

Contingent Inspection

Lot Size 5.450 Acres

Acres 5.45

Lot Dimensions 594x404

Property Description

$500,000 Price Reduction! 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.

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

Parking Features Paved, Unassigned, Open

Utilities Available Electric Separate, Heating Separate, Hot Water Separate

Roof Type Age Over 8 Years

Present Use Commercial,Residential

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

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Listed by Mark Hulsey • RE/MAX Results

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1902 & 2008 8 1/2 ST SE Rochester, MN 55904