Spacious Multifamily Investment
For Sale
Contact for pricing
Pending
897 16th Avenue Southeast, Rochester, MN 55904
36-unit multifamily property with four-bedroom residences in Rochester, MN.
Property Size37,800 SF
Lot Size3.47 Acres
Days on Market88
Property Features for 897 16th Avenue Southeast
General Information
Standard status
Pending
Size
37,800 SF
Lot size
3.47 Acres
Property subtype
Multifamily
Building Details
Year Built
36
Year Renovated
2025
Buildings
3
Units
36
Listing Agency:
Marcus & Millichap - Minneapolis
Listed By:
Michael Jacobs · License #MN: 40760249 CA: 01979550
Source:
Crexi
Added: May 26
Changed: Aug 8
Last Checked: Jul 19 at 8:44AM
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 Marcus & Millichap - Minneapolis
Investment Insights
Based on property information with market context.
Falcon Landing Apartments presents a multifamily investment opportunity, featuring 36 units across three residential buildings. Constructed in 1991, the property is arranged around a courtyard-style lawn. The unit mix consists entirely of four-bedroom residences, averaging 1,050 square feet. Current rents average $1,377 per month, with more recent move-ins at $1,500 per month. The property sits on a 3.47-acre site and includes 104 surface parking spaces. Renovations in 2025 included updated kitchens, new flooring, and replacement of a majority of the windows. Located near Rochester Community and Technical College, Falcon Landing Apartments benefits from proximity to a key education and renter demand driver. Rochester, home to the Mayo Clinic, is experiencing population growth and demand for rental housing.
Key Highlights
- Renovated in 2025 with updated kitchens, new flooring, and window replacements, minimizing immediate capital expenditures.
- Unique unit mix consisting entirely of four‑bedroom residences, offering larger floor plans than typical market offerings.
- Located near Rochester Community and Technical College, a key driver of renter demand.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
Business Placement
Demographics for 55904, MN
29,813
Population
12,984
Households
2.3
Avg Household Size
35
Median Age
37%
College-Educated
93%
High-School Grad
60.1 sq mi
ZIP Area
496
Density / Sq Mi
$76,434
Median Household Income
$47,250
Median Earnings
$1,253
Median Rent
$237,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 36-unit multifamily property with four-bedroom residences in Rochester, MN.
Where is this apartment building located?
The property is located at 897 16th Avenue Southeast Rochester, MN.
What are key features of this property?
This property features: Renovated in 2025 with updated kitchens, new flooring, and window replacements, minimizing immediate capital expenditures.; Unique unit mix consisting entirely of four‑bedroom residences, offering larger floor plans than typical market offerings.; Located near Rochester Community and Technical College, a key driver of renter demand.
