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Multifamily

The Quarters at Rochester

826 21st Ave SE, Rochester, MN 55904

Listing Price: Request For Offer

Number of Units
63

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of The Quarters at Rochester, a 63-unit Student-Housing apartment community located in Rochester, Minnesota. The Quarters at Rochester is being offered for sale on a free-and-clear basis. Constructed in 1986 and renovated in 2015, The Quarters sits on 6.61 acres and is only 1 mile from the Rochester Community and Technical College (RCTC). The unit mix consists of 3 two-bedroom / two-bathroom units at 879 square feet and 60 four-bedroom / two-bathroom units at 1,068 square feet. The property features laundry facilities on each floor, a volleyball court, a basketball court and ample off-street parking. In addition, each unit comes with bedroom and living area furniture included. The kitchen features an open design and also includes a full kitchen appliance set in each unit. Rochester is the county seat of Olmsted County and is the third largest city in Minnesota. It has continuously been voted Best Places to Live in the Midwest and the United States. The city itself encompasses a 54-mile area and lies alongside the Zumbro River. Rochester is known for the world-renowned Mayo Clinic as well as IBM (International Business Machines Corporation). Rochester Technical and Community College serves more than 8,000 students and is a member of the Minnesota State System. In addition to the students, the college is home to more than 600 full-time and part-time employees. The largest programs at the college are liberal arts and sciences, nursing, health information technology, business, and accounting. Located just off Rochester Community and Technical College campus, residents at The Quarters can take advantage of walking to classes and nearby stores. The property is also a short walk from Homestead Park and Eastwood Park, which includes Eastwood Park Mountain Bike Trailhead. Only 2.4 miles from Downtown Rochester, residents at the Quarters are close to many shops, restaurants, and medical centers. Less than 1 mile away sits Wabi Sabi (0.9 miles), American Legion (0.2 miles), Little Caesars Pizza (0.7 miles), and Taco Moreno (0.9 miles). Less than 5 miles away sits Federal Medical Center (1.5 miles), the Mayo Clinic (3.0 miles), Galleria at University Square (2.3 miles), and Apache Mall (2.8 miles). The Quarters at Rochester offers the rare opportunity to acquire a well-built, stabilized asset, with a value-add option through in-unit upgrades and subsequent rent increases.

Investment Highlights

  • Fully Furnished Bedrooms and Living Rooms
  • Recently Renovated in 2015
  • Close Proximity to Rochester Community & Technical College

Exclusively Listed By

Multifamily

The Quarters at Rochester

Listing Price: Request For Offer

Number of Units
63

Investment Highlights

  • Fully Furnished Bedrooms and Living Rooms
  • Recently Renovated in 2015
  • Close Proximity to Rochester Community & Technical College

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of The Quarters at Rochester, a 63-unit Student-Housing apartment community located in Rochester, Minnesota. The Quarters at Rochester is being offered for sale on a free-and-clear basis. Constructed in 1986 and renovated in 2015, The Quarters sits on 6.61 acres and is only 1 mile from the Rochester Community and Technical College (RCTC). The unit mix consists of 3 two-bedroom / two-bathroom units at 879 square feet and 60 four-bedroom / two-bathroom units at 1,068 square feet. The property features laundry facilities on each floor, a volleyball court, a basketball court and ample off-street parking. In addition, each unit comes with bedroom and living area furniture included. The kitchen features an open design and also includes a full kitchen appliance set in each unit. Rochester is the county seat of Olmsted County and is the third largest city in Minnesota. It has continuously been voted Best Places to Live in the Midwest and the United States. The city itself encompasses a 54-mile area and lies alongside the Zumbro River. Rochester is known for the world-renowned Mayo Clinic as well as IBM (International Business Machines Corporation). Rochester Technical and Community College serves more than 8,000 students and is a member of the Minnesota State System. In addition to the students, the college is home to more than 600 full-time and part-time employees. The largest programs at the college are liberal arts and sciences, nursing, health information technology, business, and accounting. Located just off Rochester Community and Technical College campus, residents at The Quarters can take advantage of walking to classes and nearby stores. The property is also a short walk from Homestead Park and Eastwood Park, which includes Eastwood Park Mountain Bike Trailhead. Only 2.4 miles from Downtown Rochester, residents at the Quarters are close to many shops, restaurants, and medical centers. Less than 1 mile away sits Wabi Sabi (0.9 miles), American Legion (0.2 miles), Little Caesars Pizza (0.7 miles), and Taco Moreno (0.9 miles). Less than 5 miles away sits Federal Medical Center (1.5 miles), the Mayo Clinic (3.0 miles), Galleria at University Square (2.3 miles), and Apache Mall (2.8 miles). The Quarters at Rochester offers the rare opportunity to acquire a well-built, stabilized asset, with a value-add option through in-unit upgrades and subsequent rent increases.

Exclusively Listed By

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