1902 1/2 StRochester, MN 55904

Property Details for 1902 1/2 St

Year built

1978

Lot size

5.45 AC

Property size (Sq ft)

93,600 SF

Property type

Other apartment buildings

Property subtype

Residential income properties

Description

This exceptional 80-unit multifamily investment opportunity is located in the heart of desirable Rochester, Minnesota. The portfolio comprises ten buildings situated on two adjacent parcels totaling 5.45 acres, offering significant potential for future expansion. With a total of 93,600 square feet, the property boasts 75 three-bedroom, two-bathroom units and 5 two-bedroom, two-bathroom units. Currently, 76 of the 80 units are actively occupied. Built in 1979, the buildings are well-maintained and feature solid construction and quality finishes throughout. Most units underwent renovations since 2016 by the current ownership. The property benefits from below-market rental rates, presenting a clear value-add opportunity for the astute investor. Further development potential exists, with the possibility of constructing an additional 4-5 buildings (subject to necessary approvals). The property is enrolled in the 4(d) affordable housing program. Zoned R3 Medium Density Residential, this portfolio offers a compelling blend of immediate income generation and long-term growth potential in a thriving market. The property's size and location make it an ideal investment for those seeking a substantial and stable return. This is a rare opportunity to acquire a significant multifamily portfolio in a prime Rochester location.

Location Insight

City

Rochester

County

Olmsted

State

Minnesota

Latitude

44.0141

Longitude

-92.4347

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