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Multifamily

Faribo Apartments

123 2nd St NW, Faribault, MN 55021

Listing Price: $740,000

Cap Rate
6.92%
Number of Units
11
GRM
7.30
Occupancy
96.0%
Price/Unit
$67,273
Price/Gross SF
$100.27
Gross SF
7,380

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Faribo Apartments, an 11-unit
multi-family asset located in Faribault, Minnesota. The property is being offered for sale on a free and
clear basis.
Built in 1952, Faribo Apartments features 6 one-bedroom/one-bathroom units and 5 two-bedroom/
one-bathroom units, ranging in size from 605 square feet to 750 square feet. Utilities at Faribo
Apartments are broken down as follows: residents pay gas and electricity, water is through a RUBS
program, and refuse is $5 per month. The property has been well cared for and has maintained
historically high occupancy. This property also features shared laundry and assigned off-street
parking.
Located just near downtown Faribault, Faribo Apartments gives tenants quick access to the many
nearby stores, restaurants, schools, and businesses. The City of Faribault has a population of 24,000
residents and sits right off Interstate 35, twenty-five minutes south of the Twin Cities metropolitan
area. It is home to many businesses and attractions including Jennie-O Turkey Store plant, Fairbault
Foods / Butter Kernel products, Shattuck-St.Marys, and Minnesota State Academy for the Blind and
the Deaf. The city also has many recreational parks and lakes. The location gives its residents the
conveniences of being near a large metropolitan while providing the advantages of small-town living.
Faribo Apartments offers investors the opportunity to acquire a well-maintained and stabilized
property in the city of Faribault.

Investment Highlights

  • Well Maintained Units
  • 11.71% Cash-On-Cash Return
  • Near Downtown Faribault

Exclusively Listed By

Listing Price: $740,000

Cap Rate
6.92%
Number of Units
11
GRM
7.30
Occupancy
96.0%
Price/Unit
$67,273
Price/Gross SF
$100.27
Gross SF
7,380

Investment Highlights

  • Well Maintained Units
  • 11.71% Cash-On-Cash Return
  • Near Downtown Faribault

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Faribo Apartments, an 11-unit
multi-family asset located in Faribault, Minnesota. The property is being offered for sale on a free and
clear basis.
Built in 1952, Faribo Apartments features 6 one-bedroom/one-bathroom units and 5 two-bedroom/
one-bathroom units, ranging in size from 605 square feet to 750 square feet. Utilities at Faribo
Apartments are broken down as follows: residents pay gas and electricity, water is through a RUBS
program, and refuse is $5 per month. The property has been well cared for and has maintained
historically high occupancy. This property also features shared laundry and assigned off-street
parking.
Located just near downtown Faribault, Faribo Apartments gives tenants quick access to the many
nearby stores, restaurants, schools, and businesses. The City of Faribault has a population of 24,000
residents and sits right off Interstate 35, twenty-five minutes south of the Twin Cities metropolitan
area. It is home to many businesses and attractions including Jennie-O Turkey Store plant, Fairbault
Foods / Butter Kernel products, Shattuck-St.Marys, and Minnesota State Academy for the Blind and
the Deaf. The city also has many recreational parks and lakes. The location gives its residents the
conveniences of being near a large metropolitan while providing the advantages of small-town living.
Faribo Apartments offers investors the opportunity to acquire a well-maintained and stabilized
property in the city of Faribault.

Exclusively Listed By

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