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Active
Listed
$3,335,000
/mo   Edit
MLS# 5609192
Commercial
Built 2009
0.9 acres
Mankato schools
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    Description:   Student housing portfolio near Minnesota State University Mankato. Walk, bike, or bus to campus in 5 minutes. City bus stops on site. The walking path at the end of Fairfield goes right to M.S.U. Local owners and great attention to management details! Maintenance, repairs, updates and grounds keeping are all up to speed. The zero vacancy rate is consistent. All leased for the 2020-2021 season. 100% Occupied. Excellent Location. Great Condition!
    List Price: $3,335,000
    Sold Date: 0000-00-00
    Price/sq ft: None
    Property Type: Commercial
    Listing Status: Active
    Contingency: None
    Year Built: 2009
    City: Mankato
    County: Blue Earth
    State: MN
    Zip Code: 56001

    Interior

    Building Fin Sq Ft: 21,386 ft²
    Appliances Included: Range, Refrigerator
    Total Ranges: One Per Unit
    Total Refrigerators: One Per Unit

    Exterior

    Air Conditioning: Central, Wall
    Heating System: Forced Air, Heat Pump, Boiler
    Foundation Size: 11,152 ft²
    Shared Amenities: Deck, Patio
    Road Frontage: City, Paved Streets, No Outlet/Dead End, Curbs, Sidewalks, Storm Sewer
    Handicap Accessible: None
    Exterior Material: Steel Siding, Vinyl, Fiber Board
    Garage Spaces: 1
    Other Parking Spaces: 50
    Roof Details: Asphalt Shingles, Pitched

    Lot

    Acres: 0.9
    Lot Description: Corner Lot, City Bus (w/in 6 blks)
    Latitude: 44.15173800
    Longitude: -94.00688300
    Lot Size Dim.: 39204
    Dev/Complex Name: Cic 99 Twin Rivers Twnhms
    Zoning: Residential-Multi-Family

    Schools

    School District: 77 - Mankato
    District Phone: 507-387-1868

    Expenses

    Annual Caretaker Expense: $26,916
    Annual Electric Expense: $28,704
    Annual Fuel Expense: $4,932
    Annual Insurance Expense: $9,240
    Annual Maintenance Expense: $6,200
    Annual Repair Expense: $5,560
    Annual Gross Expense: $146,397
    Total Annual Expenses: $109,707
    Annual Trash Expense: $2,377
    Annual Water/Sewer Expense: $10,244
    Owner Expenses: Taxes, Insurance, Water/Sewer, Electric, Fuel, Maintenance/Repair, Trash, Snow, Lawn, Broadband
    Tenant Expenses: Cable T.V.

    Financial & Taxes

    Tax Year: 2020
    Annual Taxes: $36,690
    Assessment Pending: No
    Taxes w/ Assessments: $36,690

    Income

    Annual Gross Income: 385380.00

    Rent

    Annual Net Income: $238,983

    Unit

    Total Units: 15
    Unit Number: 80

    Miscellaneous

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

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    Get to know our Home Mortgage Professionals

    Jason
    Roaldson
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    Zajac
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    Larson
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    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.
    612.268.1503

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