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8963 Syndicate Ave 16 Unit Apartment Building $975,000 ($60,938/Unit) Lexington, MN 55014
INVESTMENT HIGHLIGHTS
- Priced to sell quickly! See Two Open House Dates/Times.
- A mix of original, remodeled and refreshed units throughout the building creates an ideal situation for an investor.
- Plus leverage strong in-place income along with short-term leases to add value over time.
- Well located apartment building, close to the freeway, bus lines, restaurants, schools/parks and area amenities.
- Low cost option in the area, with the ability to increase NOI with building improvement.
EXECUTIVE SUMMARY
Introducing a prime investment opportunity in Lexington, MN. This
8,960 SF multi-family property boasts 16 units, with 15, 1BR/1BA
and 1 Studio Apartment. Ample parking, green space, built in 1960
& zoned R-4, this property has future redevelopment potential.
The current short-term, below-market leases offer flexibility for the
new owner to increase NOI via building improvements.
8,960 SF multi-family property boasts 16 units, with 15, 1BR/1BA
and 1 Studio Apartment. Ample parking, green space, built in 1960
& zoned R-4, this property has future redevelopment potential.
The current short-term, below-market leases offer flexibility for the
new owner to increase NOI via building improvements.
PROPERTY FACTS
| Price | $975,000 | Building Class | C |
| Price Per Unit | $60,938 | Lot Size | 0.44 AC |
| Sale Type | Investment | Building Size | 5,980 SF |
| No. Units | 16 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 2.51/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-4 - R-4 | ||
| Price | $975,000 |
| Price Per Unit | $60,938 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 5,980 SF |
| No. Stories | 1 |
| Year Built | 1960 |
| Parking Ratio | 2.51/1,000 SF |
| Zoning | R-4 - R-4 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 35-31-23-13-0029 | Improvements Assessment | $810,800 |
| Land Assessment | $247,700 | Total Assessment | $1,058,500 |
PROPERTY TAXES
Parcel Number
35-31-23-13-0029
Land Assessment
$247,700
Improvements Assessment
$810,800
Total Assessment
$1,058,500
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8963 Syndicate Ave
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