504 & 512 14th Street SE, Rochester MN 55094

Realty Growth Inc is pleased to present this 18-unit investment just outside of downtown Rochester, MN. This is a property unlike any other in Rochester. You will enjoy the Miami style construction with balconies for all tenants! This is a unique value add opportunity that you do not see come on the market often in Rochester. All common areas were painted and carpeted in 2018 with modern colors. 6 units have been remodeled with new flooring, paint, bathrooms, and appliances. All units have new stainless steel appliances! New garage doors with openers were installed on all 16 garages in 2018. 4 high efficiency wall mount boilers were installed in 2018 which has substantially reduced the owners utility cost. Updated security cameras in 2019 provide the owner with remote access for viewing. The property is currently being professionally managed but would also be an easy property to be self managed by a start up investor. Approximately half of the rents have increased to market rate w/the other half projected for spring 2020.

Agents:


Dylan Carty

Category:

Multi-Family

Parcel ID

64.12.23.013522 & 64.12.23.013523

Asking Price

$1,350,000

Building SqFt

16,360

Lot SqFt

25,615