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107 3rd Ave S - Village View Apartments 21 Unit Apartment Building Offered at $1,549,900 at a 8.53% Cap Rate Sauk Rapids, MN 56379
Investment Highlights
- Three Separate Adjacent Buildings All for Sale
- 91% Occupancy and a Strong Return on Investment with an In-Place 8.53% Cap Rate
- 12 Detached Garages and a two-car Attached Garage on the Single Family Home
- All Newer Pitched Gabled Roofing in 2020
- Exterior is All brick and recently Tuck Pointed
Executive Summary
Village View Apartments is a perfectly located multi-family asset with 21-units, one block off the main-street in downtown Sauk Rapids, Minnesota. This value-add opportunity in the Saint Cloud metro area sits on a full block with 0.92 acres and consists of a 12-unit, an 8-unit and a single-family home. The unit mix on the apartments is 17 two bedroom and 3 one bedroom all with one bathroom. Professionally managed by Granite City Real Estate Partners. They would entertain staying on with a new owner for management making this a very smooth transition. The apartment buildings are all brick exterior and include twelve detached garages. All the pitched gable roofs were replaced in 2020.
Apartments were constructed in 1965 and the sale includes a one and a half story single family home with three bedrooms and two bathrooms. These are very well-maintained properties and feature a mix of one and two-bedroom units all with one bathroom, providing a variety of options for potential renters. Additionally, the property includes a spacious parking lot with additional off-street separate parking spaces, ensuring that tenants have ample space to park their vehicles.
The exterior of the property is well-maintained and features a classic brick façade and newer vinyl windows, while the interior of the units are spacious and have updated appliances. The property is conveniently located near major highways and the downtown Sauk Rapids and Saint Cloud areas, making it easy for tenants to enjoy all the amenities both cities have to offer.
Investors looking for a value-add opportunity with strong cash flow potential will appreciate the low maintenance costs and high rental demand in the area. Don't miss out on this rare opportunity to own a property that is super clean and well maintained and also in a non-rent controlled city of Minnesota!
Apartments were constructed in 1965 and the sale includes a one and a half story single family home with three bedrooms and two bathrooms. These are very well-maintained properties and feature a mix of one and two-bedroom units all with one bathroom, providing a variety of options for potential renters. Additionally, the property includes a spacious parking lot with additional off-street separate parking spaces, ensuring that tenants have ample space to park their vehicles.
The exterior of the property is well-maintained and features a classic brick façade and newer vinyl windows, while the interior of the units are spacious and have updated appliances. The property is conveniently located near major highways and the downtown Sauk Rapids and Saint Cloud areas, making it easy for tenants to enjoy all the amenities both cities have to offer.
Investors looking for a value-add opportunity with strong cash flow potential will appreciate the low maintenance costs and high rental demand in the area. Don't miss out on this rare opportunity to own a property that is super clean and well maintained and also in a non-rent controlled city of Minnesota!
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$207,840
|
$11.07
|
| Other Income |
$28,200
|
$1.50
|
| Vacancy Loss |
$5,901
|
$0.31
|
| Effective Gross Income |
$230,139
|
$12.26
|
| Taxes |
$24,464
|
$1.30
|
| Operating Expenses |
$73,430
|
$3.91
|
| Total Expenses |
$97,894
|
$5.21
|
| Net Operating Income |
$132,245
|
$7.04
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $207,840 |
| Annual Per SF | $11.07 |
| Other Income | |
|---|---|
| Annual | $28,200 |
| Annual Per SF | $1.50 |
| Vacancy Loss | |
|---|---|
| Annual | $5,901 |
| Annual Per SF | $0.31 |
| Effective Gross Income | |
|---|---|
| Annual | $230,139 |
| Annual Per SF | $12.26 |
| Taxes | |
|---|---|
| Annual | $24,464 |
| Annual Per SF | $1.30 |
| Operating Expenses | |
|---|---|
| Annual | $73,430 |
| Annual Per SF | $3.91 |
| Total Expenses | |
|---|---|
| Annual | $97,894 |
| Annual Per SF | $5.21 |
| Net Operating Income | |
|---|---|
| Annual | $132,245 |
| Annual Per SF | $7.04 |
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Washer/Dryer
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Carpet
- Lawn
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 17 | $839.00 | 700 - 730 |
| 1+1 | 3 | $745.50 | 600 |
| 3+2 | 1 | $1,500 | 1,300 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
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107 3rd Ave S - Village View Apartments
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