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$1,700,000  (list price)
/mo   Edit
MLS# 5474704
Built 1984
0.86 acres
St. Cloud schools
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    Description:   Located directly across from SCSU Halenbeck Hall. This 18 unit apartment complex has had the same owner for 23 years! It features 17 large - 4 bedroom / 2 bath units, and a 1 bedroom unit. The exterior was completely redone in 2015 with a new roof, siding, and windows. A solid investment opportunity offered at 8.5% cap rate.
    List Price: $1,700,000
    Sold Price: $1,700,000
    Sold Date: 03/19/2020
    Price/sq ft: None
    Property Type: Commercial
    Listing Status: Sold
    Contingency: None
    Year Built: 1984
    City: Saint Cloud
    County: Stearns
    State: MN
    Zip Code: 56301


    Building Fin Sq Ft: 23,519 ft²
    Appliances Included: Refrigerator, Range


    Air Conditioning: Wall
    Heating System: Forced Air
    Foundation Size: 7,840 ft²
    Shared Amenities: Coin-op Laundry Owned
    Unit Amenities: Intercom System, Cable
    Handicap Accessible: None
    Exterior Material: Brick/Stone
    Garage Spaces: 0
    Other Parking Spaces: 45


    Acres: 0.86
    Latitude: 45.54798300
    Longitude: -94.15440500
    Lot Size Dim.: .81 acres
    Dev/Complex Name: Brott & Smiths Add
    Zoning: Residential-Multi-Family


    School District: 742 - St. Cloud
    District Phone: 320-253-9333


    Total Annual Expenses: $89,532

    Financial & Taxes

    Tax Year: 2019
    Annual Taxes: $20,688
    Assessment Pending: No
    Taxes w/ Assessments: $20,832


    Annual Gross Income: 252240.00


    Annual Net Income: $145,051


    Total Rooms in Unit 1: 1
    Total Units: 18


    Current Use: Residential
    Fuel System: Electric
    Owner Occupied: N
    Sale Includes: Building, Leases
    Sewer System: City Sewer/Connected
    Utilities: Heating Separate, Electric Common, Hot Water Separate
    Water System: City Water/Connected

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    Get to know our Home Mortgage Professionals

    Jason Roaldson
    Premier Loan Officer
    CrossCountry Mortgage NMLS#308253
    My goal is to be fair and accurate with anyone who trusts me to handle their financing. I believe that trust is the most important ingredient in the relationship between my client and me, which is why I focus on transparency with my clients so they understand from where all of the numbers in their transactions are derived. When trust is high and stress is low, purchases close on time. My Promise to you is we close on time, every time. We have open communication throughout the process, and I am accountable in all that I do. I am committed to serving you, I am committed to excellence, and I am committed to your 100% satisfaction. I am a 20 year veteran in the financing industry and have worked in every segment of the mortgage industry including banking, brokering, and correspondent lending. I have been fortunate to be a multi-year recipient of the Super Mortgage Professional designation given by the Twin Cities Business Magazine, the Minneapolis/St. Paul Magazine, and the Minnesota Monthly Magazine which are professional publications in my market.

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    Listing provided by RMLS, courtesy of Premier Real Estate Services