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- LoopNet Team
810 S Broad St
Mankato, MN 56001
Multifamily Property For Sale
·
5 Units
INVESTMENT HIGHLIGHTS
- Brand new plumbing, electrical, and windows
- Cambria counter tops and open floor plan living area.
- Park across the street.
- Brand new roof including new rafters.
- All new included appliances.
PROPERTY FACTS
| No. Units | 5 | Building Size | 3,907 SF |
| Property Type | Multifamily | Average Occupancy | 20% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1891/2017 |
| Lot Size | 0.13 AC | Parking Ratio | 1.28/1,000 SF |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Lot Size | 0.13 AC |
| Building Size | 3,907 SF |
| Average Occupancy | 20% |
| No. Stories | 3 |
| Year Built/Renovated | 1891/2017 |
| Parking Ratio | 1.28/1,000 SF |
AMENITIES
UNIT AMENITIES
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
ABOUT 810 S BROAD ST , MANKATO, MN 56001
Now for sale is The Rose House, built in 1897. It was owned by Dickinson L. Rose who was a local real estate agent and inventor. It is located in the Historic Lincoln Park District and is itself also on the National Register of Historic Places. The house was a victim of a fire a few years ago and has been brought back to life by Josh Kelley, a local developer. Because of its French Renaissance-inspired design it is an unusual member of the Lincoln Park District. The exterior is original and is built of reddish-brown pressed brick with smooth, yellow limestone trim. It overlooks Lincoln Park. Aside from the foundation and brick exterior, everything else is new. There are 5 apartment units. 3 of the units contain 2 bedrooms; one of the units is a 1 bedroom, and one studio unit. This is a rare opportunity for a buyer to own a piece of history that produces income. Rental income projections are as follows: Studio$850 1 Bedroom$850 2 Bedroom$1,100 2 Bedroom$1,200 2 Bedroom$1,275 Total$5,275 per month $63,300 per year Operating Expenses $15,825 NOI $47,475 Price $569,000.00 Cap Rate 7%
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 3 | $1,188 | - |
| 1+1 | 1 | $850.00 | - |
| Studios | 1 | $850.00 | - |
PROPERTY TAXES
| Parcel Number | R01-09-18-157-008 | Improvements Assessment | $433,600 |
| Land Assessment | $24,900 | Total Assessment | $458,500 |
PROPERTY TAXES
