For Sale: Rochester MLS# 6690094
Active
NEW!
$459,900
Multi-family: Four Plex
Built 1930
2,347 sqft • 0.13 acres
Rochester schools
MLS# 6690094
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Property Description
Opportunities like this donâ??t come around oftenâ??nestled in the highly sought-after Pill Hill and Folwell neighborhoods, this one-of-a-kind property, affectionately referred to as â??The Cottages, â?ť offers four unique units across three separate buildings. This is not just a real estate purchaseâ??itâ??s an investment in charm, character, and long-term potential.
The front side-by-side duplex has been tastefully updated, showcasing thoughtful finishes and modern touches while maintaining its timeless appeal. These units are already generating impressive income, proving their value with strong tenant demand and solid rent rolls. Behind the duplex, two standalone single-family homes provide versatility and additional upside, with plenty of room to grow rents through simple cosmetic upgrades.
Major capital improvements have already been taken care ofâ??all roofs have been replaced within the last five years, giving peace of mind to any investor and reducing near-term maintenance concerns. The heavy lifting is done, allowing you to focus on value-add opportunities that truly move the needle.
Whether youâ??re a seasoned investor looking to expand your portfolio or someone entering the market for the first time, this stabilized asset checks all the boxes. With a history of strong occupancy, minimal turnover, and easy-to-maintain layouts, this property has been a consistent performer. Tenants love the walkability, the charm of the neighborhood, and the close proximity to downtown Rochester, Mayo Clinic, parks, shops, and more.
This property is more than just a solid performerâ??itâ??s a canvas for future growth. With a few well-chosen upgrades, the income potential here could soar, turning this already-profitable gem into a true cash-flow cow.
Donâ??t miss your chance to own a slice of Rochesterâ??s most beloved neighborhoods. Whether you're holding for steady passive income or planning a value-add strategy, The Cottages are ready to deliver.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$459,900
Price per sq ft:
$196
Property Type:
Multi-family
City:
Rochester
Garage Spaces:
1
County:
Olmsted
Year Built:
1930
State:
MN
Property Style:
Four Plex
Zip Code:
55902
Subdivision Name:
Head & Mcmahon Add
Interior
Finished Area:
2,347 ft2
Living Area:
2,347 ft2
Ranges:
Four
Refrigerators:
Four
Basement Details:
Full
Exterior
Stories:
One
Garage Spaces:
1
Garage Size:
200 ft2
Foundation Size:
2,347 ft2
Handicap Accessible:
None
Heating System:
Forced Air
Exterior Material:
Wood Siding
Roof Details:
Architectural Shingle
Lot & Land
Acres:
0.13
Geolocation:
44.01802, -92.473647
Lot Dimensions:
321
Zoning:
Residential-Multi-Family
Schools
School District:
535
District Phone:
507-328-3000
Elementary School:
Folwell
Middle School:
Willow Creek
High School:
Mayo
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$4,500
Annual Maintenance Expense:
$1,980
Annual Gross Expense:
$13,560
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Tenant Expenses:
All Utilities, Electricity, Gas, Trash Collection
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$3,234
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$3,234
Income
Annual Gross Income:
$39,720
Misc. Annual Income:
None
Misc. Monthly Income:
None
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Mortgage Calculator
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Listing provided by RMLS,
courtesy of Harbor Realty & Management Group LLC.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.