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Property Details

1902 & 2008 8 1/2 Street SE
Rochester, MN 55904

Price: $6,395,000

Listing # 6633791


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80 Unit Multifamily Investment Opportunity in the heart of highly desirable Rochester. This offering features 10 buildings, totaling 80 units with 76 actively online. The properties are stable, but still offer value add potential with below market rental rates and the ability to build another 4-5 buildings (with necessary approvals). Current ownership remodeled most all of the units since their acquisition in 2016. Properties are enrolled in the 4(d) affordable housing program. Built in 1979 with 93,600 square feet, 2 adjacent parcels on 5.45 acres offering an ideal blend of space and comfort for residents. The portfolio totals 80 units, comprised of 75 units with 3 beds and 2 baths and 5 units have 2 beds and 2 baths. all buildings are similar with solid construction and quality finishes throughout. Zoning is R3 Medium Density Residential.

Basic Features:

Style Apartment,Low Rise
Type Commercial Sale
Zoning Business/Commercial,Residential-Multi-Family
Year Built 1978
School District Rochester
County Olmsted
Lot Size 594x404
Acreage 5.45 acres
Number of Units 80
Tax $ / Year $57,173 / 2024
Tax ID
Legal Description

Includes:

Cooktop,Refrigerator,Building,Fixture/Equipment,Land,Leases,Rental License

Additional Features
Government Programs
Section 6
Terrain Type
Basement Full,Slab
Driveway
Exterior Features Vinyl Siding
Foundation 1.00
Fuel Source Natural Gas
Handicap Access None
Heating Baseboard
Roof Age Over 8 Years
Sewer Service City Sewer/Connected
Water Service City Water/Connected
Water Heater
Parking Lot Paved,Unassigned,Open
Exterior Construction
Utilities Electric Separate,Heating Separate,Hot Water Separate
Laundry N

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