17-Unit Multifamily
For Sale
$1,285,000
Pending
540 Northern Hills Drive NE, Rochester, MN 55906
Commercial Sale, Rochester, MN
Property SizeContact for details
Days on Market259
Property Features for 540 Northern Hills Drive NE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Residential-Single Family
Subdivision
Northern Hills Two-Torrens
High school district
Rochester
Directions
Corner of Broadway Ave N & Northern Hills Dr NE
Standard status
Pending
APN
742521016778
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
12308
Utilities
Heating system
Forced Air
Building Details
Year built
1978
Listing Agency:
Infinity Real Estate
(507) 550-1052
Listed By:
Jonathan Espy
(507) 273-2261
Added: Jan 19
Changed: Oct 2
Last Checked: Oct 5 at 4:06PM
MLS# 7010275
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily offering consists of 17 individually titled condominium units within a 58-unit association. Fifteen units are in the building at 540 Northern Hills Drive NE, with the remaining two in the building at 602 Northern Hills Drive NE. Both buildings were constructed in 1978 and use forced-air heating.
All 17 units are rented. The association fee is $170 per unit per month and covers lawn care, snow removal, garbage, and water; tenants pay other utilities.
All 17 units are rented. The association fee is $170 per unit per month and covers lawn care, snow removal, garbage, and water; tenants pay other utilities.
Key Highlights
- 17 individually titled units offered within one association
- 15 units at 540 Northern Hills Drive NE and 2 units at 602 Northern Hills Drive NE
- 58 total units across the two buildings
Property Analytics
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Current Use
Lease Details
17
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
Explore this area
Business Placement
Demographics for 55906, MN
19,559
Population
8,798
Households
2.2
Avg Household Size
41
Median Age
53%
College-Educated
95%
High-School Grad
61.5 sq mi
ZIP Area
318
Density / Sq Mi
$104,146
Median Household Income
$54,380
Median Earnings
$1,152
Median Rent
$350,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - The offering combines individually titled residences across two buildings within one association.
Where is this multifamily property located?
The property is located at 540 Northern Hills Drive NE Rochester, MN.
What is the asking price?
The asking price for this property is $1,285,000.
What are key features of this property?
This property features: 17 individually titled units offered within one association; 15 units at 540 Northern Hills Drive NE and 2 units at 602 Northern Hills Drive NE; 58 total units across the two buildings
