Listing Agency: Hamilton Real Estate Group m**@hamiltonmnre.com Show Phone

Listed By: Andy Bianco · License #40976637

Source: Crexi

Added: Apr 12 Changed: Aug 31 Last Checked: Aug 29 at 8:36PM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hamilton Real Estate Group

Investment Insights

Based on property information with market context.

This 29-unit apartment property occupies a former high school that has been renovated for residential use. Apartment sizes range from 400 to 1,547 square feet, providing a mix of layouts within the building. Washer and dryer hookups are available in 27 units, and a new roof covers the majority of the structure.

The property is located at 112 Pleasant St NE in Preston, Minnesota, within walking distance of employers and grocery stores. It has a history of full occupancy and established rental income, offering an operating apartment asset with existing residential improvements and varied unit sizes.

Key Highlights

• 29‑unit apartment building created through the renovation of a former high school
• Apartment sizes range from 400 sq ft to 1547 sq ft
• Washer/dryer hookups available in 27 of the 29 units

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Dental Office Auto Repair Shop HVAC Service (Bike/Boat/Book/etc) Store Grocery & Convenience Store Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

29

Residential units

Location Intelligence

Trade Area within ½ mile

225

Businesses Nearby

Explore this area Business Placement

Demographics for 55965, MN

2,345

Population

1,072

Households

2.2

Avg Household Size

45

Median Age

26%

College-Educated

94%

High-School Grad

108.5 sq mi

ZIP Area

22

Density / Sq Mi

$62,917

Median Household Income

$43,264

Median Earnings

$681

Median Rent

$191,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Apartment building - Former school property with 29 apartments, varied floor plans, and laundry hookups in most units.

Where is this apartment building located?

The property is located at 112 Pleasant St NE Preston, MN.

What are key features of this property?

This property features: 29‑unit apartment building created through the renovation of a former high school; Apartment sizes range from 400 sq ft to 1547 sq ft; Washer/dryer hookups available in 27 of the 29 units