Building Details

Year built 1955

Listing Agency: RE/MAX Results · RE/MAX International g***@results.net Show Phone

Listed By: Kevin Goettl Show Phone

Added: Feb 2 Changed: Oct 7 Last Checked: Oct 23 at 12:06PM

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MLS# 7015348

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.

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Investment Insights

Based on property information with market context.

The Oaks Apartments is an 11-unit residential property on a 0.6-acre parcel at 905 E 5th Street in Blue Earth. Its unit mix comprises two studios, three one-bedroom apartments, five two-bedroom apartments, and one three-bedroom apartment. The building dates to 1955 and was converted from motel use in the early 2000s. It has a metal roof, vinyl siding, and a parking lot. Ten units have central air; each apartment has a dedicated furnace and electric breaker panel.

Residents pay their own natural gas and electricity through individual meters. The owner covers water and sewer, garbage, common-area gas and electric, and hot water. A seller-owned coin-operated washer and dryer are included; the laundry room is configured for two washers and two dryers. The property has two water heaters, one gas-fired and one electric. Reported investment metrics include a 9.1% cap rate, 5.4 GRM, 10% first-year cash-on-cash return, 1.25 DSCR, and 51% operating expense ratio.

Key Highlights

• 11 apartments: two studios, three one‑bedroom, five two‑bedroom, and one three‑bedroom unit
• Reported 9.1% cap rate, 5.4 GRM, and 1.25 DSCR
• 0.6‑acre parcel with a parking lot

Property Analytics

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Lease Details

11

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

240

Businesses Nearby

Explore this area Business Placement

Demographics for 56013, MN

4,298

Population

2,110

Households

2

Avg Household Size

47

Median Age

27%

College-Educated

93%

High-School Grad

169.2 sq mi

ZIP Area

25

Density / Sq Mi

$64,360

Median Household Income

$37,201

Median Earnings

$926

Median Rent

$160,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Studio through three-bedroom residences feature individual gas and electric meters, plus on-site coin-operated laundry.

Where is this apartment building located?

The property is located at 905 E 5th Street Blue Earth, MN.

What is the asking price?

The asking price for this property is $419,900.

What are key features of this property?

This property features: 11 apartments: two studios, three one‑bedroom, five two‑bedroom, and one three‑bedroom unit; Reported 9.1% cap rate, 5.4 GRM, and 1.25 DSCR; 0.6‑acre parcel with a parking lot