20 Grand AVE N, Kensington, MN 56343 – 6689872 - Luke Chase

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Luke Chase

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

$685,000

Est. payment - /mo

0.35 Acres Lot

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UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Pending

Purchase Type For Sale

Subdivision Original Kensington

MLS Listing ID 6689872

Year Built 1984

Annual Tax Amount $4,057

Tax Year 2025

Contingent None

Lot Size 0.350 Acres

Acres 0.35

Lot Dimensions 100, 142, 100, 142

Property Sub-Type Apartment

Property Description

Discover the Runestone Grand Apartments, a prime investment opportunity featuring a fully-rented 8-unit apartment building in Kensington, MN. This property comprises seven spacious 2-bedroom, 1-bath units (approx. 875 sq ft each) and one cozy 1-bedroom, 1-bath unit (approx. 550 sq ft). Most units have undergone extensive renovations, showcasing modern appliances, updated flooring, fresh paint, updated plumbing, and lighting. Tenants cover their own electricity and optional internet/cable, while the owner is responsible for water, sewer, trash, and snow removal. Fiber-optic internet is available to each unit. Efficient heating and cooling systems. Low-maintenance steel siding. Each unit features wall-mounted air conditioning and electric baseboard heating (metered separately to each unit). A shared coin-operated laundry facility and off-street parking are available to tenants. Currently generating a gross monthly income of $6,160. With a list price of $685,000, the projected cap rate for Runestone Grand is over 8%. This investment offers consistent cash flow in a desirable rental market. Don't miss your chance to own a well-maintained apartment complex in West Central MN!

Location

State MN

County Douglas

Zoning Residential-Multi-Family

Rooms

Basement Slab

Interior

Heating Baseboard

Cooling Wall Unit(s)

Inclusions Building, Fixture/Equipment, Land, Leases

Fireplace No

Exterior

Parking Features Assigned, Parking Lot

Utilities Available Electric Common, Electric Separate, Heating Separate, Hot Water Common

Roof Type Asphalt

Present Use Residential

Building

Story Two

Foundation 3500

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Two

Structure Type Steel Siding

Schools

School District West Central Area

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Listed by Justin Habel • Counselor Realty Inc of Alex

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20 Grand AVE N Kensington, MN 56343