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Oaks Apartments 905 E Fifth St 11 Unit Apartment Building $429,900 ($39,082/Unit) 8.11% Cap Rate Blue Earth, MN 56013
Executive Summary
The Oaks Apartments are located in an "Opportunity Zone." There are eleven units with a mix of two studio, three one bedroom, five two bedroom, and one three bedroom apartments. The units are well maintained with all repair and maintenance issues addressed promptly and professionally. The Oaks Apartments offers a low vacancy and turn over rate. There are some long term tenants. There is plenty of parking for residents and guests with coin operated laundry on site. Low maintenance vinyl and stone exterior with a metal roof. The Oaks runs like a well oiled machine!
Property Facts
| Price | $429,900 | Apartment Style | Low-Rise |
| Price Per Unit | $39,082 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.59 AC |
| Cap Rate | 8.11% | Building Size | 12,014 SF |
| Sale Condition | 1031 Exchange | No. Stories | 1 |
| Gross Rent Multiplier | 5.4 | Year Built/Renovated | 1955/2000 |
| No. Units | 11 | Parking Ratio | 0.92/1,000 SF |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | 233 - Multi-family Res. | ||
| Price | $429,900 |
| Price Per Unit | $39,082 |
| Sale Type | Investment |
| Cap Rate | 8.11% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 5.4 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.59 AC |
| Building Size | 12,014 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1955/2000 |
| Parking Ratio | 0.92/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | 233 - Multi-family Res. |
Amenities
Unit Amenities
- Air Conditioning
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
1 1
Property Taxes
| Parcel Number | 21.200.5860 | Improvements Assessment | $194,900 |
| Land Assessment | $84,500 | Total Assessment | $279,400 |
Property Taxes
Parcel Number
21.200.5860
Land Assessment
$84,500
Improvements Assessment
$194,900
Total Assessment
$279,400
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Oaks Apartments | 905 E Fifth St
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