540 Northern Hills Dr Rochester, MN 55906
- Apartment buildings
- 800 SF
Current Use by Public Records
- Northern hills / Apartment Building
- The moyo clinic / Hospital Department
Property Details for 540 Northern Hills Dr
- Year built
- 1978
- Property size
- 800 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents 17 individually titled condo units within the same association, located at 540 Northern Hills Drive NE, Rochester, MN. Currently fully rented, this portfolio offers immediate and substantial cash flow. The property consists of 15 units situated within the 540 building and 2 additional units located in the 602 building. Each unit boasts 800 square feet of living space. The total number of units in both buildings is 58. The attractive monthly association fee of $170 per unit covers essential exterior maintenance, including lawn care, snow removal, garbage disposal, and water. Tenants are responsible for all other utilities, minimizing the owner's operational expenses. This turnkey investment is ideal for a seasoned investor seeking a stable, high-yield portfolio with minimal management responsibilities. The asking price for this exceptional collection of 17 individually deeded condo units is $1,425,000. This represents a compelling opportunity to acquire a well-maintained, income-producing asset in a desirable Rochester location. The strong rental market and low vacancy rates in the area further enhance the long-term investment potential of this property. The individual titling of each unit offers flexibility and potential for future individual sales or refinancing. This is a rare opportunity to acquire a substantial multi-family investment in a thriving community.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rochester
- County
- Olmsted
- State
- Minnesota
- Longitude
- -92.454
- Latitude
- 44.0494
