314 County Road 8 Coming Soon Save Request In-Person Tour Request Virtual Tour
Rockville,MN 56369
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Coming Soon
Purchase Type For Sale
MLS Listing ID 6783767
Year Built 1969
Annual Tax Amount $13,792
Tax Year 2025
Lot Size 1.300 Acres
Property Sub-Type Apartment
Property Description
16 Unit Apartment Building Generating roughly $150,000 in annual gross income on the edge of town surrounded by farm fields, park across the street, and long history of low vacancies only minutes from Cold Spring, I-94 and the large St. Cloud Metro. Two 1970 brick buildings consisting of 12 - Two Bedroom units averaging $775 in rent with market rents being around $900 and 4 - One Bedroom units averaging $650 in rent with market rents being around $750 per unit. Many recent updates including architectural shingles, vinyl windows, and nearly all units have been updated such as the three units in photos with newer flooring, paint, kitchen, appliances, bathrooms & fixtures. Two new sets of coined washer/dryer for additional income. Hot water boiler heat the owner pays for gas, plus water, sewer, garbage, snow removal and lawn care. Tenants pay for electric heat with 16 separate electric meters and AC units on 60 amp fuses. 6 garage stalls and blacktop parking lot. Professionally managed by Jamkee Properties. Annual expenses Include: Insurance $9,365, Taxes $13792, Snow/Lawn care $7,000, Garbage $6,500
Water/Sewer $12,000, Electric $3,800, Gas $7,500
Management at 8% of gross rent $11,000. This is a rare find and opportunity to own a TURN KEY cash flowing apartment building. Unit #3 left vacant for showings and just had a $20,000 remodel.
Location
State MN
County Stearns
Zoning Business/Commercial,Residential-Multi-Family
Interior
Heating Boiler,Hot Water
Cooling Wall Unit(s)
Inclusions Building,Leases
Exterior
Parking Features Detached,Asphalt,Multiple Garages,Paved,Unassigned
Garage Spaces 6.0
Utilities Available Heating Common,Hot Water Common
Roof Type Asphalt,Pitched
Building
Lot Description Corner Lot,Some Trees
Story Two
Foundation 3744
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Brick/Stone,Wood Siding
Schools
School District Rocori