For Sale: Sauk Rapids MLS# 6621535
Active
$1,008,000
Commercial: Apartments
Built 1984
Sauk Rapids-Rice schools
MLS# 6621535
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Property Description
Situated in a quiet Sauk Rapids neighborhood, Black Forest Apartments offers a turn-key, 12-unit investment opportunity. The three-story building, totaling over 11, 316 +/- square feet, has undergone significant improvements, including new cedar tone treated pine decks (2024), SpeedQueen coin-operated washing machines (2024), stainless steel appliances in various units (2024), along with LVP flooring and fresh paint. These upgrades build on capital improvements made in 2022/2023, including a new 30-year roof, new vinyl siding, and a new high-efficiency water heater. The building consists of 12 total units, with 11 two-bedroom units and 1 one-bedroom unit, featuring decks and walkouts, spacious kitchens with dining areas, hallway closets, large living rooms, and 1 full bathroom. Units are nicely equipped with a range/oven, fridge/freezer, dishwasher, and wall AC unit. There’s strong upside potential to increase rents to market rates, making this an attractive investment to further boost NOI. Located in an area with strong tenant demand, low vacancy and a long-term tenant base. The property also provides easy access to parks, schools, and Highways 10 and 15. The proximity to St. Cloud offers tenants the convenience of city amenities along with peaceful, residential living.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,008,000
Property Type:
Commercial
City:
Sauk Rapids
Garage Spaces:
0
County:
Benton
Year Built:
1984
State:
MN
Property Style:
Apartments
Zip Code:
56379
Interior
Ranges:
Six or More
Refrigerators:
Six or More
Exterior
Stories:
Three Or More
Garage Spaces:
0
Other Parking Spaces:
16
Air Conditioning:
Wall Unit(s)
Foundation Size:
3,700 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Boiler
Parking Features:
Parking Lot
Shared Amenities:
- Coin-op Laundry Owned
- Security
Unit Amenities:
Deck
Road Frontage:
City Street
Exterior Material:
- Brick/Stone
- Vinyl Siding
Roof Details:
Age 8 Years or Less
Lot & Land
Geolocation:
45.630964044, -94.0742429209
Inclusions:
Building
Lot Dimensions:
100 x 113
Zoning:
Business/Commercial
Schools
School District:
47
District Phone:
320-253-4703
Expenses
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$11,756
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$11,876
Units
Total Units:
12
Miscellaneous
Current Use:
Commercial
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of RE/MAX Advantage Plus.
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.