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Property Details

107 3rd Avenue S
Sauk Rapids, MN 56379

Price: $1,650,000

Listing # 6772661


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Village View Apartments were well built in the mid 1960's with brick walls and gabled, asphalt shingle roofs. The 21 units are composed of an 8 unit building (117 3rd Ave S), a 12 unit building (107 3rd Ave S) and the house next door (210 1st St). The apartment buildings and house on .92 acre, half block and share an alley with US Bank and an office building. The property is just around the corner from Coborn's Grocery and the bus line. The apartments are good size, comfortable, with good natural light, full bath, eat in kitchen, and large living room and are well located - making them easy to rent. Since 2017, the buildings have been consistently maintained - new roof in 2020, bath floor & closet updates, kitchen repairs, tuck point repair 2023, etc... Current rents are below market and offer the new owner the opportunity to increase cash flow. (See pictures for rent roll and proforma).

Basic Features:

Style Apartment
Type Commercial Sale
Zoning Residential-Multi-Family
Year Built 1965
School District Sauk Rapids-Rice
County Benton
Lot Size 300x135x300x135
Acreage 0.92 acres
Garage 12 Car
Number of Units 21
Tax $ / Year $11,398 / 2024
Tax ID
Legal Description

Includes:

Building,Land

Additional Features
Government Programs
Section 23
Terrain Type
Cooling Wall Unit(s)
Driveway
Exterior Features Brick/Stone
Foundation 8088.00
Fuel Source Natural Gas
Handicap Access None
Heating Boiler
Sewer Service City Sewer/Connected
Water Service City Water/Connected
Water Heater
Parking Lot Detached,Other,Parking Lot
Exterior Construction
Utilities Electric Separate
Laundry N

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