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Multifamily

Saint Croix River Apartments

549 River Rd N, Taylors Falls, MN 55084

Listing Price: $920,000

Cap Rate
6.23%
Number of Units
9
GRM
10.99
Occupancy
97.0%
Price/Unit
$102,222
Price/Gross SF
$161.83
Gross SF
5,685

Investment Overview

This multifamily investment is conveniently located off of one of the most heavily trafficked roads in the area: Highway 95. Highway 95 leads you to Highway 35 which connects the metro and Duluth, in northern Minnesota. In addition, this downtown Taylors Falls investment is near Highway 8 which allows traveling from northeastern Minnesota to the northeastern side of Wisconsin. It's also located only 30 miles away from Stillwater. Location, location, location.
The apartment building serves the community's need for long-term housing in a working-class area that has a slender inventory for rentals. The stable location of this building has ensured maximum exposure to renters, over the years, which has also resulted in a strong tenant base that minimizes the risk of vacancies. Leases either get extended, as a result, or the units get filled quickly.

With a unit mix of 1-2 bedroom units, there will always be a need in Taylors Falls for these apartments in said location. The lot is partially wooded and could be a future site for development or extended parking. Theres onsite parking in the back of the building for each tenant and each tenant also has a storage space inside the building. As far as updates, all of the nine units have been renovated, there's a new laundry machine, new gutters have been installed, new siding and balconies in recent years, and the roof was installed in 2010. The investment has been well-managed and improved by the current owners so it is a solid turn-key investment for the next owner.

*Request Offering Memorandum for further details*

Investment Highlights

  • Near Hwy 95, Hwy 35, and Hwy 8 - Which Connects NE MN To NE WI & Metro to N MN
  • Located in the Desirable Saint Croix Valley & All Units upgraded in 2018-2019
  • Unit Mix: Five 1-Bedroom Units & Four 2-Bedroom Units & 100% Occupied
  • New Roof in 2010, New Balconies & Siding in 2016
  • New Gutters, Siding & Roof Repair in 2020
  • New Common Area Flooring in 2021, New Laundry Machines & Updates Throughout

Exclusively Listed By

Financing By

Multifamily

Saint Croix River Apartments

Listing Price: $920,000

Cap Rate
6.23%
Number of Units
9
GRM
10.99
Occupancy
97.0%
Price/Unit
$102,222
Price/Gross SF
$161.83
Gross SF
5,685

Investment Highlights

  • Near Hwy 95, Hwy 35, and Hwy 8 - Which Connects NE MN To NE WI & Metro to N MN
  • Located in the Desirable Saint Croix Valley & All Units upgraded in 2018-2019
  • Unit Mix: Five 1-Bedroom Units & Four 2-Bedroom Units & 100% Occupied
  • New Roof in 2010, New Balconies & Siding in 2016
  • New Gutters, Siding & Roof Repair in 2020
  • New Common Area Flooring in 2021, New Laundry Machines & Updates Throughout

Investment Overview

This multifamily investment is conveniently located off of one of the most heavily trafficked roads in the area: Highway 95. Highway 95 leads you to Highway 35 which connects the metro and Duluth, in northern Minnesota. In addition, this downtown Taylors Falls investment is near Highway 8 which allows traveling from northeastern Minnesota to the northeastern side of Wisconsin. It's also located only 30 miles away from Stillwater. Location, location, location.
The apartment building serves the community's need for long-term housing in a working-class area that has a slender inventory for rentals. The stable location of this building has ensured maximum exposure to renters, over the years, which has also resulted in a strong tenant base that minimizes the risk of vacancies. Leases either get extended, as a result, or the units get filled quickly.

With a unit mix of 1-2 bedroom units, there will always be a need in Taylors Falls for these apartments in said location. The lot is partially wooded and could be a future site for development or extended parking. Theres onsite parking in the back of the building for each tenant and each tenant also has a storage space inside the building. As far as updates, all of the nine units have been renovated, there's a new laundry machine, new gutters have been installed, new siding and balconies in recent years, and the roof was installed in 2010. The investment has been well-managed and improved by the current owners so it is a solid turn-key investment for the next owner.

*Request Offering Memorandum for further details*

Exclusively Listed By

Financing By

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