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City Side Estates 600 Burton Ln 36 Unit Apartment Building For Sale Fairmont, MN 56031
Executive Summary
: City Side Estates is a well-maintained, 36-unit apartment community with 19 garages, strategically located within a designated Opportunity Zone on the southeast side of Fairmont. The property benefits from strong and consistent occupancy, offering investors both stability and upside potential.
Conveniently positioned near grocery stores, retail centers, schools, and the Mayo Clinic Health System, the location supports continued tenant demand and long-term desirability. The property features durable Chicago brick construction, complemented by attractive common areas with tiled hallways. Upper-level units (second and third floors) offer sliding glass doors that open to private decks, enhancing tenant appeal. A number of units have been updated, providing a blend of classic construction and modern improvements. Buyers requesting financial information and tours should provide a signed N.D.A. with proof of funds. Please contact listing Broker Kevin Goettl to schedule your tour today!
Conveniently positioned near grocery stores, retail centers, schools, and the Mayo Clinic Health System, the location supports continued tenant demand and long-term desirability. The property features durable Chicago brick construction, complemented by attractive common areas with tiled hallways. Upper-level units (second and third floors) offer sliding glass doors that open to private decks, enhancing tenant appeal. A number of units have been updated, providing a blend of classic construction and modern improvements. Buyers requesting financial information and tours should provide a signed N.D.A. with proof of funds. Please contact listing Broker Kevin Goettl to schedule your tour today!
Property Facts
| Sale Type | Investment | Building Size | 36,840 SF |
| No. Units | 36 | Average Occupancy | 94% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1978/2008 |
| Apartment Style | Low-Rise | Parking Ratio | 1.09/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 2.02 AC | ||
| Zoning | R - Residential Multi-Family | ||
| Sale Type | Investment |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.02 AC |
| Building Size | 36,840 SF |
| Average Occupancy | 94% |
| No. Stories | 3 |
| Year Built/Renovated | 1978/2008 |
| Parking Ratio | 1.09/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R - Residential Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Ceiling Fans
- Eat-in Kitchen
- Tub/Shower
- Carpet
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 700 |
| 2+1 | 12 | - | 850 |
| 3+2 | 12 | - | 1,100 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 232650020 | Improvements Assessment | $1,885,200 |
| Land Assessment | $124,100 | Total Assessment | $2,009,300 |
Property Taxes
Parcel Number
232650020
Land Assessment
$124,100
Improvements Assessment
$1,885,200
Total Assessment
$2,009,300
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City Side Estates | 600 Burton Ln