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Rum River Square Apartments 3040 Bridge St NW 21 Unit Apartment Building $2,400,000 ($114,286/Unit) 6.74% Cap Rate Saint Francis, MN 55070
Investment Highlights
- 21 well-maintained 1-bedroom units
- Separate electric meters and electric subpanels in each unit
- Boiler heat in units; forced-air heat in hallways
- Built in 1990 with quality brick construction
- Large walk-in closets in all units
- Tenant-owned wall A/C units
Executive Summary
21-unit brick apartment building at 3040 Bridge St NW, St. Francis, MN. Built in 1990, it features all 1-bedroom units, in-building coin laundry, 12 detached garage spaces, and 25 surface parking spaces. Well-maintained with a mix of asphalt roofing and lap siding, offering strong rental appeal in a growing community. 3040 Bridge St NW in St. Francis, MN, offers a prime location in a growing community just 30 miles north of Minneapolis. This property is situated near the heart of St. Francis, providing easy access to local amenities, including schools, parks, and retail options, making it attractive for renters.
Property Facts
| Price | $2,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $114,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.85 AC |
| Cap Rate | 6.74% | Building Size | 16,192 SF |
| No. Units | 21 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1990 |
| Property Subtype | Apartment | Parking Ratio | 1.79/1,000 SF |
| Price | $2,400,000 |
| Price Per Unit | $114,286 |
| Sale Type | Investment |
| Cap Rate | 6.74% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.85 AC |
| Building Size | 16,192 SF |
| No. Stories | 2 |
| Year Built | 1990 |
| Parking Ratio | 1.79/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | 624 |
| 2+1 | 12 | - | 600 - 700 |
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Property Taxes
| Parcel Number | 33-34-24-33-0050 | Improvements Assessment | $2,637,100 |
| Land Assessment | $238,100 | Total Assessment | $2,875,200 |
Property Taxes
Parcel Number
33-34-24-33-0050
Land Assessment
$238,100
Improvements Assessment
$2,637,100
Total Assessment
$2,875,200
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Rum River Square Apartments | 3040 Bridge St NW
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