463-465 3rd St S
Bayport, MN 55003
Bayport Colonial Apartments · Multifamily Property For Sale
·
8 Units
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
SITE AMENITIES
- Laundry Facilities
- Gas Range
- Smoke Free
ABOUT 463-465 3RD ST S , BAYPORT, MN 55003
THE BAYPORT COLONIAL APARTMENTS HAVE AN AMAZING LOCATION AND ATTRACTIVE CURB APPEAL. LOCATED IN BAYPORT JUST SOUTH OF STILLWATER AND THE NEW HWY.36 BRIDGE. UNITS ARE 100% OCCUPIED WITH 6 OF THE 8 UNITS RENOVATED. RENOVATED UNITS HAVE RECEIVED NEW FLOORING, NEW APPLIANCES, FRESHLY PAINTED, AND UPDATED PLUMBING AND ELECTRICAL FIXTURES. BOTH OF THE 4-PLEX'S HAVE ROOFS THAT WERE REPLACED IN 2008. ONE OF THE TWO WATER HEATERS IS BRAND NEW IN 2017. BOILERS ARE HIGH EFFICIENCY AND LOW MAINTENANCE. AT $845,000 THE CAP RATE IS 8.27% AND HAS A CASH ON CASH RETURN OF 15.37%. PROPERTY WOULD MAKE FOR THE PERFECT 1031 EXCHANGE!!
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 8 | $998.00 | 796 - 900 |
PROPERTY TAXES
| Parcel Number | 11-029-20-32-0124 | Improvements Assessment | $785,500 |
| Land Assessment | $187,700 | Total Assessment | $973,200 |
