This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Oakview Drive Multi-Family For Sale

5 Residential Properties Offered at £3,638,393 in Saint Charles, MN

Investment Highlights

  • Located between Rochester, MN and Winona MN
  • 7.48% Cap Rate
  • $100,000 plus in capital improvements in 2023
  • Strong Historical Occupancy
  • 10% GRM
  • 1224 Oakview added to portfolio in May

Executive Summary

Presenting an exclusive opportunity to acquire a meticulously maintained portfolio comprising 5 properties, all strategically positioned along the same block. This diverse collection features a total of 30 two-bedroom, 6 one-bedroom, and 8 three-bedroom units, offering a balanced mix to cater to various tenant demographics.
While easy to maintain not all units are currently optimized to their full market rental potential, recent capital investments totaling more than $100,000 (2023) have been dedicated to enhancing the portfolio's appeal. These upgrades include comprehensive flooring and appliance enhancements, underscoring a commitment to elevating the tenant experience and maximizing value.
With a proven track record of strong historically low occupancy rates, and the lack of rental property in a 25 mile radius, these properties support rent increases and represent a stable and lucrative investment opportunity. Their prime location further adds to their allure, with a mere 30-minute commute to two major employment hubs: Winona, renowned for its prestigious universities and captivating Mississippi River attractions, and Rochester, the dynamic second-largest city in Minnesota boasting an array of shopping, dining, entertainment options, and Internationally known Mayo Clinic.

.

Taxes & Operating Expenses (Actual - 2023)

Annual
Gross Rental Income £372,740
Other Income £4,192
Vacancy Loss -
Effective Gross Income £376,933
Taxes -
Operating Expenses -
Total Expenses £105,675
Net Operating Income £271,257

Taxes & Operating Expenses (Actual - 2023)

Gross Rental Income
Annual £372,740
Other Income
Annual £4,192
Vacancy Loss
Annual -
Effective Gross Income
Annual £376,933
Taxes
Annual -
Operating Expenses
Annual -
Total Expenses
Annual £105,675
Net Operating Income
Annual £271,257

Property Facts

Price £3,638,393
Price / SF £107.33 / SF
Sale Conditions Portfolio Sale
Net Initial Yield 7.88%
Sale Type Investment
Status Active
Number of Properties 5
Individually For Sale 0
Total Building Size 33,900 SF
Total Land Area 3.15 AC

Properties

Property Name / Address Property Type Size Year Built Individual Price
1097 Oakview Dr, Saint Charles, MN 55972 Residential 9,400 SF 1979 -
1112 Oakview Dr, Saint Charles, MN 55972 Residential 9,000 SF 1979 -
1160 Oakview Dr, Saint Charles, MN 55972 Residential 9,000 SF 1979 -
1260 Oakview Drive, Saint Charles, MN 55972 Residential 3,000 SF 1979 -
1224 Oakview Dr, Saint Charles, MN 55972 Residential 3,500 SF 1979 -
Show More > < Show Less
  • Listing ID: 31534760

  • Date on Market: 17/04/2024

  • Last Updated:

  • Address: Oakview Drive Multi-Family For Sale, Saint Charles, MN

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}