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11038 183rd Cir NW - 55+ 1 Level Rental Community 11,536 SF Flex Condo Unit Offered at $2,500,000 in Elk River, MN 55330
Investment Highlights
- Individual PIDs
- Solid Tenant Base
- 2020 Built
Executive Summary
55+ 1-Level rental community built in 2020. Hard to find investment opportunity. Community consists of 4 twin homes (8 units). Each unit has a separate PID to provide for residential v.s commercial property tax rate and ease of forming association if owner wanted to sell units individually. Units boast a great floorplan and are well appointed. Very stable and loyal tenant base that have been taking great care of their respective units. Conveniently located on a quiet cul-de-sac and close to local shopping and the Hwy 101/169 corridor.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Cap Rate | 6.31% |
| Sale Type | Investment |
| Cap Rate | 6.31% |
Description
55+ 1-Level rental community built in 2020. Hard to find investment opportunity. Community consists of 4 twin homes (8 units). Each unit has a separate PID to provide for residential v.s commercial property tax rate and ease of forming association if owner wanted to sell units individually. Units boast a great floorplan and are well appointed. Very stable and loyal tenant base that have been taking great care of their respective units. Conveniently located on a quiet cul-de-sac and close to local shopping and the Hwy 101/169 corridor.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 8 | 11,536 SF | Flex | $2,500,000 ($216.71/SF) | $157,700 |
Unit 8
| Unit Size |
| 11,536 SF |
| Condo Use |
| Flex |
| Price |
| $2,500,000 ($216.71/SF) |
| NOI |
| $157,700 |
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Unit 8
| Unit Size | 11,536 SF |
| Condo Use | Flex |
| Price | $2,500,000 ($216.71/SF) |
| NOI | $157,700 |
| Sale Type | Investment |
| Cap Rate | 6.31% |
| Description | |
| 55+ 1-Level rental community built in 2020.  Hard to find investment opportunity.  Community consists of 4 twin homes (8 units).  Each unit has a separate PID to provide for residential v.s commercial property tax rate and ease of forming association if owner wanted to sell units individually.  Units boast a great floorplan and are well appointed.  Very stable and loyal tenant base that have been taking great care of their respective units.  Conveniently located on a quiet cul-de-sac and close to local shopping and the Hwy 101/169 corridor.</li></ul> |
Property Facts
The following property facts apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 11,540 SF | Typical Floor Size | 11,540 SF |
| Property Type | Multifamily (Condo) | Year Built | 2020 |
| Floors | 1 | Lot Size | 1.78 AC |
| Zoning | Residential | ||
| Total Building Size | 11,540 SF |
| Property Type | Multifamily (Condo) |
| Floors | 1 |
| Typical Floor Size | 11,540 SF |
| Year Built | 2020 |
| Lot Size | 1.78 AC |
| Zoning | Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 8 | $2,195 | 1,442 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Presented by
Acuity Group
11038 183rd Cir NW - 55+ 1 Level Rental Community
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