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Lofts at Townsite 810 4th Ave S 46 Unit Apartment Building $7,975,000 ($173,370/Unit) 6.25% Cap Rate Moorhead, MN 56560

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EXECUTIVE SUMMARY

This is an opportunity to own a great investment property in Downtown Moorhead, MN. The Lofts at Townsite has a great location with ample parking and several amenities within walking distance. The 51 apartment units are all new within the last 10 years and have excellent occupancy. There is upside potential in the commercial space as it is 100% occupied at below market rents. There are currently 9 garages with plenty of space to build more.

810 4th Avenue S

PROPERTY FACTS

Price	$7,975,000	Building Class	B
Price Per Unit	$173,370	Lot Size	3.03 AC
Sale Type	Investment	Building Size	79,632 SF
Cap Rate	6.25%	Average Occupancy	100%
No. Units	46	No. Stories	2
Property Type	Multifamily	Year Built	1920
Property Subtype	Apartment	Parking Ratio	2.31/1,000 SF
Apartment Style	Low-Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$7,975,000
Price Per Unit	$173,370
Sale Type	Investment
Cap Rate	6.25%
No. Units	46
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	B
Lot Size	3.03 AC
Building Size	79,632 SF
Average Occupancy	100%
No. Stories	2
Year Built	1920
Parking Ratio	2.31/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.