For Sale: Saint Cloud MLS# 7112424
Active
NEW!
$2,590,000
Commercial: Other
4 br • Built 1988
0.44 acres
St. Cloud schools
MLS# 7112424
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Property Description
Well-maintained 28-unit multifamily investment opportunity consisting of three apartment buildings in St. Cloud, Minnesota. The property offers strong in-place cash flow with a 9.1% in-place cap rate while boasting full occupancy. Ownership has completed extensive capital improvements including major boiler component upgrades, roof replacements (2010 and 2017), flooring, appliances, and common area improvements. Tenants pay separately metered electricity and internet while ownership pays gas, water/sewer, trash, and common utilities. On-site laundry, ample surface parking, and proximity to St. Cloud State University and downtown St. Cloud make this an attractive long-term investment opportunity.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,590,000
Property Type:
Commercial
City:
Saint Cloud
Garage Spaces:
0
County:
Stearns
Year Built:
1988
State:
MN
Property Style:
Other
Zip Code:
56301
Subdivision Name:
Brott & Smiths Add
Interior
Bedrooms:
4
Bathrooms:
0
Appliances Included:
- Dishwasher
- Range
- Refrigerator
Basement Details:
- Block
- Partial
Exterior
Stories:
Three Or More
Garage Spaces:
0
Air Conditioning:
Window Unit(s)
Foundation Size:
11,940 ft2
Handicap Accessible:
Other
Heating System:
Boiler
Parking Features:
- Asphalt
- Open
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.44
Geolocation:
45.544382, -94.155539
Inclusions:
Building
Lot Dimensions:
1.23 acres
Zoning:
Residential-Multi-Family
Schools
School District:
742
District Phone:
3202539333
Expenses
Annual Electric Expense:
$19,148
Annual Insurance Expense:
$33,170
Annual Maintenance Expense:
$26,470
Annual Trash Expense:
$16,782
Annual Water/Sewer Expense:
$36,408
Tenant Expenses:
Cable TV, Electricity, Telephone
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$12,540
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$12,540
Income
Annual Gross Income:
$467,000
Rent
Annual Net Income:
$236,619
Units
Total Units:
28
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of RIC Property Management, Inc..
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.