For Sale: Rochester MLS# 6692410
Active
$580,000
Condo/Townhome: Low Rise (3- Levels)
Built 1961
0.19 acres
Rochester schools
MLS# 6692410
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Property Description
Rare Investment Opportunity in the Heart of Downtown Rochester this unique value-add opportunity featuring 7 total units across two separate buildings, including a single-family home. The unit mix is well poised for amazing return with 5- 2 bedroom 1 bath units and 2 - 1 bedroom, 1 bath units.
Located just one block from the Government Center and a short 5-minute walk to the Mayo Clinic, this property is ideally situated near schools, parks, and all the amenities downtown Rochester has to offer. The prime location ensures consistently high occupancy and strong tenant demand.
Many tenants have called this property home for 5+ years, with a couple of residents staying for over two decades, showcasing the stability and desirability of this asset.
This is a fantastic opportunity for investors looking to enhance income with minimal effortâ??simply installing RUBS (Ratio Utility Billing System) and completing modest updates could significantly increase revenue. Alternatively, continue operating as-is and enjoy steady, predictable returns from a well-performing asset.
Whether you're making your first investment or expanding a seasoned portfolio, this property offers location, long-term tenancy, and upside potentialâ??making it a true cash flow king.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$580,000
Property Type:
Condo/Townhome
City:
Rochester
Garage Spaces:
0
County:
Olmsted
Year Built:
1961
State:
MN
Property Style:
Low Rise (3- Levels)
Zip Code:
55904
Subdivision Name:
East Rochester Add-Part Torrens
Interior
Ranges:
One Per Unit, Six or More
Refrigerators:
One Per Unit, Six or More
Appliances Included:
- Range
- Refrigerator
Exterior
Garage Spaces:
0
Other Parking Spaces:
14
Air Conditioning:
Wall Unit(s)
Foundation Size:
3,054 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
- Asphalt
- Parking Lot
Shared Amenities:
Coin-op Laundry Owned
Exterior Material:
- Brick/Stone
- Metal Siding
Roof Details:
Age 8 Years or Less
Lot & Land
Acres:
0.19
Geolocation:
44.017799, -92.457878
Inclusions:
Rental License
Lot Dimensions:
8111
Zoning:
Residential-Multi-Family
Schools
School District:
535
District Phone:
507-328-3000
Expenses
Annual Caretaker Expense:
$3,500
Annual Electric Expense:
$1,200
Annual Fuel Expense:
$2,700
Annual Insurance Expense:
$6,500
Annual Maintenance Expense:
$3,250
Annual Gross Expense:
$25,900
Annual Trash Expense:
$2,500
Annual Water/Sewer Expense:
$3,000
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$7,880
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$7,880
Income
Annual Gross Income:
$65,256
Rent
Annual Net Income:
$39,356
Units
Total Units:
7
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Common
Water System:
City Water/Connected
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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.