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For Sale:  Rochester MLS# 7071109

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Active NEW!
$450,000
/mo Edit
Commercial:  2 Stories
7 br • 5 ba • Built 1910
0.266 acres
Rochester schools
MLS# 7071109
763-576-8286
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    Property Description

    Excellent opportunity to own a fully occupied 5-unit multifamily property in a growing area with strong rental demand and long-term upside potential. This income-producing asset has a proven history of full occupancy and consistent cash flow, making it an attractive option for both seasoned investors and those looking to expand their portfolio. With rents continuing to rise in the area, there is additional opportunity for increased returns over time. The property offers a solid investment foundation with stable tenants already in place and immediate income from day one. Conveniently located near area amenities, employment opportunities, and continued community growth, this is a great chance to secure a turnkey multifamily investment in an expanding market.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $450,000
    Property Type: Commercial
    City: Rochester
    Garage Spaces: 0
    County: Olmsted
    Year Built: 1910
    State: MN
    Property Style: 2 Stories
    Zip Code: 55904
    Subdivision Name: City Lands

    Interior

    Bedrooms: 7
    Bathrooms: 5
    Ceiling Height: Less Than 8 Feet
    Refrigerators: One Per Unit
    Basement Details:
    • Finished
    • Full
    • Partially Finished
    • Shared Access

    Exterior

    Stories: Two
    Garage Spaces: 0
    Air Conditioning: None
    Foundation Size: 4,154 ft2
    Handicap Accessible: None
    Heating System: Boiler
    Parking Features:
    • Asphalt
    • Parking Lot
    Unit Amenities: None

    Lot & Land

    Acres: 0.266
    Geolocation: 44.021768, -92.449181
    Inclusions: Building
    Lot Dimensions: 30 x 50
    Zoning: Residential-Multi-Family

    Schools

    School District: 535
    District Phone: 5073283000

    Expenses

    Annual Caretaker Expense: $2,572
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: $6,000
    Annual Maintenance Expense: $2,572
    Annual Trash Expense: $600
    Annual Water/Sewer Expense: None
    Tenant Expenses: Electricity, Gas, Water

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $5,138
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $5,138

    Income

    Annual Gross Income: $51,444

    Rent

    Annual Net Income: $31,990

    Units

    Total Units: 5

    Miscellaneous

    Current Use: Residential
    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Common
    • Hot Water Common
    Water System: City Water/Connected

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    Payment:  /mo

    Local Home Mortgage Professionals

    Eric Bloomstrand
    Branch Sales Manager
    Fairway Home Mortgage    NMLS#274211
    612-961-2600
    Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
    Connect with Eric today to get started with your home purchase!

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    Listing provided by RMLS, courtesy of Harbor Realty & Management Gro.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.