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1205 S Sibley Ave
Litchfield, MN 55355
Grace Apartments · Multifamily Property For Sale
·
31 Units
PROPERTY FACTS
| No. Units | 31 | Building Size | 20,000 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 2010/2016 |
| Building Class | B | Parking Ratio | 2.25/1,000 SF |
| Lot Size | 2.33 AC | ||
| Zoning | Apartments | ||
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 2.33 AC |
| Building Size | 20,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 2010/2016 |
| Parking Ratio | 2.25/1,000 SF |
| Zoning | Apartments |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Refrigerator
- Range
- Wheelchair Accessible (Rooms)
ABOUT 1205 S SIBLEY AVE , LITCHFIELD, MN 55355
The Grace Apartments is an opportunity to acquire a stabilized, highly cash-flowing, 31-unit apartment complex. With all capital improvements already completed, new ownership can be “hands off” while experiencing a cash-on-cash return of over 20%. Low housing inventory and increasing median income have allowed this property to consistently perform well and remain fully occupied. Litchfield, Minnesota is a bustling town just outside the Minneapolis/St. Paul 13 county metro area. Litchfield is home to nearly 7,000 residents and boasts a median household income of over $69,000. Litchfield resides in Meeker county: a county that has a population of over 23,000 and falls just west of MSP. Litchfield is the largest city in Meeker County. With its own city center, high school, and airport, Litchfield features large employers such as Meeker County Memorial Hospital, MN Rubber & Plastics, Bobcat, Northstar Processing, BERK Packaging, Anderson Chemical Co., Custom Products Inc., and Intelli-Core. The city center, just .5 miles away from the Grace Apartments, also features notable retail stores and restaurants such as Walmart, Anytime Fitness, McDonalds, Subway, Pizza Hut, Burger King, Dairy Queen, and Taco Johns. Additionally, the Grace Apartments fall across the street from Lake Ripley, a highly sought after fishing and camping destination for tourists.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 13 | - | - |
| 1+1 | 10 | - | - |
| 2+1 | 7 | - | - |
| 3+1 | 1 | - | - |
PROPERTY TAXES
| Parcel Number | 27-1486001 | Improvements Assessment | $833,300 |
| Land Assessment | $116,600 | Total Assessment | $949,900 |
PROPERTY TAXES
