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For Sale:  Rockville MLS# 6783767

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Active
$1,075,000
/mo Edit
Commercial:  Apartments
Built 1969
1.3 acres
Rocori schools
MLS# 6783767
763-576-8286
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    Property Description

    16 Unit Apartment Building Generating roughly $150, 000 in annual gross income on the edge of town surrounded by farm fields, park across the street, and long history of low vacancies only minutes from Cold Spring, I-94 and the large St. Cloud Metro. Two 1970 brick buildings consisting of 12 - Two Bedroom units averaging $775 in rent with market rents being around $900 and 4 - One Bedroom units averaging $650 in rent with market rents being around $750 per unit. Many recent updates including architectural shingles, vinyl windows, and nearly all units have been updated such as the three units in photos with newer flooring, paint, kitchen, appliances, bathrooms & fixtures. Two new sets of coined washer/dryer for additional income. Hot water boiler heat the owner pays for gas, plus water, sewer, garbage, snow removal and lawn care. Tenants pay for electric heat with 16 separate electric meters and AC units on 60 amp fuses. 6 garage stalls and blacktop parking lot. Professionally managed by Jamkee Properties. Annual expenses Include: Insurance $9, 365, Taxes $13792, Snow/Lawn care $7, 000, Garbage $6, 500 Water/Sewer $12, 000, Electric $3, 800, Gas $7, 500 Management at 8% of gross rent $11, 000. This is a rare find and opportunity to own a TURN KEY cash flowing apartment building. Unit #3 left vacant for showings and just had a $20, 000 remodel.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $1,075,000
    Property Type: Commercial
    City: Rockville
    Garage Spaces: 6
    County: Stearns
    Year Built: 1969
    State: MN
    Property Style: Apartments
    Zip Code: 56369

    Exterior

    Stories: Two
    Garage Spaces: 6
    Garage Dimensions: 24x72
    Garage Size: 1,728 ft2
    Other Parking Spaces: 12
    Air Conditioning: Wall Unit(s)
    Foundation Size: 3,744 ft2
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System:
    • Boiler
    • Hot Water
    Parking Features:
    • Asphalt
    • Detached
    • Multiple Garages
    • Paved
    • Unassigned
    Exterior Material:
    • Brick/Stone
    • Wood Siding
    Roof Details:
    • Asphalt
    • Pitched

    Lot & Land

    Acres: 1.3
    Geolocation: 45.468863, -94.348579
    Inclusions: Building, Leases
    Lot Dimensions: 160 x 360 x 160 x 360
    Zoning:
    • Business/Commercial
    • Residential-Multi-Family
    Lot Description:
    • Corner Lot
    • Some Trees

    Schools

    School District: 750
    District Phone: 320-685-4901

    Expenses

    Annual Caretaker Expense: $11,000
    Annual Electric Expense: $3,872
    Annual Fuel Expense: $7,532
    Annual Insurance Expense: $9,810
    Annual Trash Expense: $6,504
    Annual Water/Sewer Expense: $12,055
    Tenant Expenses: Cable TV, Electricity

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $13,792
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $13,792

    Income

    Annual Gross Income: $150,000

    Units

    Total Units: 16

    Miscellaneous

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

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    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 Central MN Realty LLC.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.