For Sale: Sauk Rapids MLS# 6772661
Active
$1,650,000
Commercial: Apartments
Built 1965
0.92 acres
Sauk Rapids-Rice schools
MLS# 6772661
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Property Description
Village View Apartments were well built in the mid 1960's with brick walls and gabled, asphalt shingle roofs. The 21 units are composed of an 8 unit building (117 3rd Ave S), a 12 unit building (107 3rd Ave S) and the house next door (210 1st St). The apartment buildings and house on .92 acre, half block and share an alley with US Bank and an office building. The property is just around the corner from Coborn's Grocery and the bus line. The apartments are good size, comfortable, with good natural light, full bath, eat in kitchen, and large living room and are well located - making them easy to rent. Since 2017, the buildings have been consistently maintained - new roof in 2020, bath floor & closet updates, kitchen repairs, tuck point repair 2023, etc... Current rents are below market and offer the new owner the opportunity to increase cash flow. (See pictures for rent roll and proforma).
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,650,000
Property Type:
Commercial
City:
Sauk Rapids
Garage Spaces:
12
County:
Benton
Year Built:
1965
State:
MN
Property Style:
Apartments
Zip Code:
56379
Subdivision Name:
Town Of Sauk Rapids
Exterior
Stories:
Three Or More
Garage Spaces:
12
Other Parking Spaces:
48
Air Conditioning:
Wall Unit(s)
Foundation Size:
8,088 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
- Detached
- Other
- Parking Lot
Exterior Material:
Brick/Stone
Lot & Land
Acres:
0.92
Geolocation:
45.588866, -94.163051
Inclusions:
Building, Land
Lot Dimensions:
300 x 135 x 300 x 135
Addl Parcels:
190029700, 190029500
Zoning:
Residential-Multi-Family
Schools
School District:
47
District Phone:
320-253-4703
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$11,398
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$11,518
Units
Total Units:
21
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
Electric Separate
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 Bloom Commercial Real Estate.
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.