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Active
Listed
$6,000,000
/mo   Edit
MLS# 5616117
Commercial
Built 1920
0.18 acres
Rochester schools
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    Description:   This one of a kind investment is in the heart of Downtown Rochester and available for purchase. Recently renovated from top to bottom. This 62 residential unit property provides short term and long term housing in the community. The building has a very clean, modern, and comfortable feel. Investors could look at self-managing this property and making it a profitable venture for them or hiring out a management company. The property does have 8 parking spaces, coin-operated laundry, and common kitchen spaces. The units are fully furnished and the furniture would be included in the sale. Please inquire to set up a private tour. Please do not arrive at the building without an appointment. Looking for a turn-key opportunity in the Destination Medical Center this is your chance.
    List Price: $6,000,000
    Sold Date: 0000-00-00
    Price/sq ft: None
    Property Type: Commercial
    Listing Status: Active
    Contingency: None
    Year Built: 1920
    City: Rochester
    County: Olmsted
    State: MN
    Zip Code: 55904

    Interior

    Building Fin Sq Ft: 19,008 ft²
    Appliances Included: Range, Microwave, Refrigerator, Freezer, Washer, Dryer
    Basement Details: Full, Finished (Livable)

    Exterior

    Air Conditioning: Wall
    Heating System: Forced Air
    Foundation Size: 4,770 ft²
    Shared Amenities: Coin-op Laundry Owned, Security Building, Concrete Floors & Walls
    Road Frontage: City
    Handicap Accessible: None
    Exterior Material: Brick/Stone
    Garage Spaces: 1
    Other Parking Spaces: 8
    Roof Details: Flat

    Rooms

    Shared Rooms: Community Room

    Lot

    Acres: 0.18
    Lot Description: Corner Lot
    Latitude: 44.02377000
    Longitude: -92.46130700
    Lot Size Dim.: 128 x 58
    Dev/Complex Name: Original City Of Roch-Pt Torre
    Zoning: Business/Commercial

    Schools

    School District: 535 - Rochester
    District Phone: 507-328-3000

    Expenses

    Annual Electric Expense: $25,109
    Annual Fuel Expense: $3,597
    Annual Insurance Expense: $9,603
    Annual Gross Expense: $111,080
    Annual Trash Expense: $3,898

    Financial & Taxes

    Tax Year: 2019
    Annual Taxes: $26,736
    Assessment Pending: Unknown
    Taxes w/ Assessments: $26,736

    Income

    Annual Gross Income: $502,089

    Rent

    Annual Net Income: $391,009

    Unit

    Total Units: 62

    Miscellaneous

    Current Use: Residential
    Fuel System: Electric
    Sale Includes: Business, Fixture/Equipment, Building, Land
    Sewer System: City Sewer/Connected
    Utilities: Heating Common, Electric Common, Hot Water Common
    Water System: City Water/Connected, City Water - In Street

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    Get to know our Home Mortgage Professionals

    Jeff
    Zajac
    TruStone
    Justin
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    Movement
    Jason
    Roaldson
    CrossCountry
    Jeff Zajac
    Area Sales Manager
    TruStone Home Mortgage NMLS#373627
    Jeff Zajac joined the Mortgage Lending Services team in 2014. With more than 10 years experience in the mortgage industry, Jeff is an expert in VA, FHA, conventional and construction loans. Jeff was one of the top five producers in the state of Minnesota in 2013. Jeff holds a bachelor's degree in economics and business administration from Augsburg College and participates in the Real Estate Investment Professionals business networking group. In his free time, Jeff spends his days as a youth hockey referee and coach.
    763-270-4336

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