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245 Highway 55
Paynesville, MN 56362
SALE PENDING | Community Park Apartments · Multifamily Property For Sale
·
29 Units
PROPERTY FACTS
| No. Units | 29 | Building Size | 62,559 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 2016 |
| Building Class | B | Parking Ratio | 0.6/1,000 SF |
| Lot Size | 3.23 AC |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 3.23 AC |
| Building Size | 62,559 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 2016 |
| Parking Ratio | 0.6/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Walk-In Closets
- Carpet
SITE AMENITIES
- Controlled Access
- Clubhouse
- Fitness Center
- Property Manager on Site
- Security System
- Storage Space
- Elevator
ABOUT 245 HIGHWAY 55 , PAYNESVILLE, MN 56362
CBC Orion is pleased to offer for sale – Community Park Apartments, conveniently situated along Highway 55 in Paynesville, just south and east of the intersection of Minnesota Highway 23. Location is approximately 90 miles west of the Twin Cities and only 30 minutes from Saint Cloud. Offering consists of (1) One - three story building totaling 32,604 square feet on 3.2 acres – with 29 units. In addition, there are two garage buildings totaling 30 garage stalls. Diverse blend of unit options consisting of 1, 2 or 3 bedroom floor plans, kitchen, dining, spacious living area, and 1 or 2 bathrooms options. Units are nicely equipped with range/oven, fridge/freezer, dishwasher, washer and dryer and wall AC unit. Additionally, most units offer large deck or patio. This attractive building was constructed in 2016, with combination of stone and vinyl siding exterior and asphalt shingles. Primary heat source is high efficiency natural gas boiler system. Additionally, there is surplus land included with Fully Engineered and Approved Plans for the 24-unit Phase 2 including 17 Additional Garage stalls. This offering represents an excellent opportunity to acquire a well located, newer apartment property with a stabilized rent roll and future expansion capabilities. *** Now Priced at $2,995,000.00 ***
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $742.50 | 666 - 688 |
| 2+1 | 3 | $995.00 | 1,011 |
| 2+2 | 18 | $920.00 | 907 - 928 |
| 3+2 | 2 | $1,125 | 1,122 |
PROPERTY TAXES
| Parcel Number | 70.39244.0063 | Improvements Assessment | $4,583,500 |
| Land Assessment | $550,900 | Total Assessment | $5,134,400 |
PROPERTY TAXES
