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Cyrus Garden on Main 315 E Main St 24 Unit Apartment Building $1,499,900 ($62,496/Unit) 8.60% Cap Rate Cyrus, MN 56323
EXECUTIVE SUMMARY
Excellent investment opportunity in charming Cyrus! This 24 unit apartment complex operates at nearly 100% occupancy and provides plenty of green space that is so coveted by the apartment clientele. Located 22 miles SW of Alexandria, 6.5 miles East of Morris and 9 miles West of Starbuck, there is plenty of draw to this smaller but well maintained country town. Comprised of 3 separate 8-unit buildings, this complex provides ample parking, well-maintained grounds, several updates and a great return! Main St building is all main level living with 8-1 bedroom units and Cyrus Garden East and West buildings mirror each other with 7-2 bedroom units and 1-1 bedroom unit in each. Start investing in real estate today or expand your portfolio with this turn-key complex that will start making you money on day one!
PROPERTY FACTS
| Price | $1,499,900 | Apartment Style | Low-Rise |
| Price Per Unit | $62,496 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.60 AC |
| Cap Rate | 8.60% | Building Size | 20,246 SF |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1983 |
| Property Subtype | Apartment | ||
| Zoning | Commercial | ||
| Price | $1,499,900 |
| Price Per Unit | $62,496 |
| Sale Type | Investment |
| Cap Rate | 8.60% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.60 AC |
| Building Size | 20,246 SF |
| No. Stories | 2 |
| Year Built | 1983 |
| Zoning | Commercial |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Range
- Carpet
- Vinyl Flooring
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 24 | - | 577 - 594 |
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PROPERTY TAXES
| Parcel Number | 22-0068-000 | Improvements Assessment | $193,700 |
| Land Assessment | $10,000 | Total Assessment | $203,700 |
PROPERTY TAXES
Parcel Number
22-0068-000
Land Assessment
$10,000
Improvements Assessment
$193,700
Total Assessment
$203,700
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Cyrus Garden on Main | 315 E Main St
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