Lofts at Townsite 810 4th Ave S 46 Unit Apartment Building $7,975,000 ($173,370/Unit) 6.25% Cap Rate Moorhead, MN 56560
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.
PROPERTY FACTS
| 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 |
1 of 1
Walk Score®
Very Walkable (82)
PROPERTY TAXES
| Parcel Number | 58-575-2230 | Improvements Assessment | $5,681,400 |
| Land Assessment | $1,284,700 | Total Assessment | $6,966,100 |
