314 County Road 8, Rockville, MN 56369 - MLS#6783767

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Nick Leavy

nick@ermetro.com +1(612) 236-5331

$999,900

Est. payment - /mo

1.3 Acres Lot

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UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID 6783767

Year Built 1969

Annual Tax Amount $13,792

Tax Year 2025

Contingent None

Lot Size 1.300 Acres

Acres 1.3

Lot Dimensions 160x360x160x360

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 $13,792, 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

Fireplace No

Exterior

Parking Features Detached, Asphalt, Multiple Garages, Paved, Unassigned

Garage Spaces 6.0

Utilities Available Heating Common, Hot Water Common

Roof Type Asphalt,Pitched

Present Use Residential

Building

Lot Description Corner Lot, Some Trees

Story Two

Foundation 3744

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Two

Structure Type Brick/Stone,Wood Siding

Schools

School District Rocori

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Listed by Matthew Imdieke • Central MN Realty LLC

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