PRICE REDUCED! | SIXTH AVENUE APARTMENTS | 1310-1320 6th Ave S
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PRICE REDUCED! | SIXTH AVENUE APARTMENTS 1310-1320 6th Ave S
12 Unit Block of Flats £823,630 (£68,636/Unit) Saint Cloud, MN 56301
Investment Highlights
- Sale is Being Offered with a Six (6) Rental Income Guarantee to Transition to New Management (Contact Broker for Details)
- 12 Total Units | (4) 2 Bedroom Units | (8) 4 Bedroom Units
- Many Upgrades/Enhancements at Both Buildings
- Excellent 1031 Exchange Replacement
Executive Summary
CBC Orion Real Estate Advisors are pleased to offer for sale Sixth Avenue Apartments, located at 1310/1320 6th Avenue South & 519 14th Street South. Conveniently located in Saint Cloud in close proximity to Parks, Schools, and Downtown. Location is approximately 60 miles from the Twin Cities.
Offering consists of (2) – Two story apartment buildings totaling 11,920 +/- square feet on .95 acre site, with total of Twelve (12) Apartment Units. There is one oversized garage out building and excess land which could be expanded or potential to build additional units. Unit mix consists of (4) - 2-bedroom units and (8) 4-bedroom units. Unit layouts consist of kitchen, dining, spacious living area, ample closet space, and 1-bathroom . Units are nicely equipped with range/oven, fridge/freezer, dishwasher and wall AC unit. Additionally, there are coin operated laundry facilities on site.
These apartment buildings were substantially renovated in 2018, with improvements consisting of new roof (1310/1320 bldg.) brand new custom kitchen and bathroom cabinetry, granite countertops (1310/1320 bldg.), all new appliances, luxury vinyl plank flooring, and much more (finishes vary by location).
1310/1320 Bldg. – All 8 units fully renovated in 2018, with improvements consisting of all new upgraded appliance packages, new custom kitchen cabinets, granite countertops, new flooring, new custom bathroom vanities, and much more. Additional building updates include new roof installed in 2018, enhanced exterior LED security lighting, landscaping around building, and more. Newer windows. Tenant paid electric heat.
519 Building – Two of the four units have been fully renovated with new custom kitchen cabinets and custom bathroom vanities. All units updated over the years.
The city of Saint Cloud has a population of over 70,000 and the market has over 105,000 people in 5-mile radius. This offering represents an excellent opportunity to acquire these nicely update apartment buildings in a strong rental market. Sale is Being Offered with a Six (6) Rental Income Guarantee to Transition to New Management (Contact Broker for Details).
*** Offered For Sale at $1,100,000 ***
Contact Scott Schmitt, CCIM with CBC Orion Real Estate Advisors for further details on this offering (320) 267-4576
Offering consists of (2) – Two story apartment buildings totaling 11,920 +/- square feet on .95 acre site, with total of Twelve (12) Apartment Units. There is one oversized garage out building and excess land which could be expanded or potential to build additional units. Unit mix consists of (4) - 2-bedroom units and (8) 4-bedroom units. Unit layouts consist of kitchen, dining, spacious living area, ample closet space, and 1-bathroom . Units are nicely equipped with range/oven, fridge/freezer, dishwasher and wall AC unit. Additionally, there are coin operated laundry facilities on site.
These apartment buildings were substantially renovated in 2018, with improvements consisting of new roof (1310/1320 bldg.) brand new custom kitchen and bathroom cabinetry, granite countertops (1310/1320 bldg.), all new appliances, luxury vinyl plank flooring, and much more (finishes vary by location).
1310/1320 Bldg. – All 8 units fully renovated in 2018, with improvements consisting of all new upgraded appliance packages, new custom kitchen cabinets, granite countertops, new flooring, new custom bathroom vanities, and much more. Additional building updates include new roof installed in 2018, enhanced exterior LED security lighting, landscaping around building, and more. Newer windows. Tenant paid electric heat.
519 Building – Two of the four units have been fully renovated with new custom kitchen cabinets and custom bathroom vanities. All units updated over the years.
The city of Saint Cloud has a population of over 70,000 and the market has over 105,000 people in 5-mile radius. This offering represents an excellent opportunity to acquire these nicely update apartment buildings in a strong rental market. Sale is Being Offered with a Six (6) Rental Income Guarantee to Transition to New Management (Contact Broker for Details).
*** Offered For Sale at $1,100,000 ***
Contact Scott Schmitt, CCIM with CBC Orion Real Estate Advisors for further details on this offering (320) 267-4576
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | £823,630 | Building Class | C |
| Price Per Unit | £68,636 | Lot Size | 0.95 AC |
| Sale Type | Investment | Building Size | 11,920 SF |
| No. Units | 12 | Number of Floors | 2 |
| Property Type | Residential | Year Built/Renovated | 1983/2018 |
| Property Subtype | Apartment | Parking Ratio | 2.94/1,000 SF |
| Apartment Style | Low Rise |
| Price | £823,630 |
| Price Per Unit | £68,636 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.95 AC |
| Building Size | 11,920 SF |
| Number of Floors | 2 |
| Year Built/Renovated | 1983/2018 |
| Parking Ratio | 2.94/1,000 SF |
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
| 4+1 | 8 | - | - |
1 of 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £719,461 | |
| Land Assessment | £94,129 | Total Assessment | £813,590 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£94,129
Improvements Assessment
£719,461
Total Assessment
£813,590
-
Scott M. Schmitt, CCIM -
CBC ORION REAL ESTATE ADVISORS, INC.
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PRICE REDUCED! | SIXTH AVENUE APARTMENTS | 1310-1320 6th Ave S
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