, Rochester, MN 55904 (MLS# 6633791)

Rochester, MN 55904

$5,585,000
Property Type: Commercial Lot Size (sq. ft.): 237,402 Status: Closed
Current Price: $5,585,000 List Date: 11/21/2024 Last Modified: 7/08/2026

Overview

Description

$500,000 Price Reduction! 80 Unit Multifamily Investment Opportunity in the heart of highly desirable Rochester. This offering features 10 buildings, totaling 80 units with 76 actively online. The properties are stable, but still offer value add potential with below market rental rates and the ability to build another 4-5 buildings (with necessary approvals). Current ownership remodeled most all of the units since their acquisition in 2016. Properties are enrolled in the 4(d) affordable housing program. Built in 1979 with 93,600 square feet, 2 adjacent parcels on 5.45 acres offering an ideal blend of space and comfort for residents. The portfolio totals 80 units, comprised of 75 units with 3 beds and 2 baths and 5 units have 2 beds and 2 baths. all buildings are similar with solid construction and quality finishes throughout. Zoning is R3 Medium Density Residential.

Listing Details MLS# 6633791

General Property Information

Lot Measurement
Acres
Multiple PIDs?
Yes
Owner Occupied
No
Waterfront YN
No
Year Built
1978
Yearly/Seasonal
Yearly
Zoning
Business/Commercial, Residential-Multi-Family
Foundation Size
Yes
For Sale or Lease
For Sale
Acres
5.45
Lot Dimensions
594x404
Assessment Pending
Unknown

Property Features

Accessible: None Appliances: Cooktop; Refrigerator Basement: Full; Slab CMU Style: Apartments/Multi Family; Freestanding; Low Rise Construction Status: Previously Owned Current Use: Commercial; Residential Existing Financing: Free and Clear Exterior: Vinyl Financing Terms: Conventional Foundation: Slab Fuel: Natural Gas Heating: Baseboard Loan Terms: Cash; Conventional On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate Parking Characteristics: Paved Lot; Unassigned; Uncovered/Open Rental License Type: Standard Roof: Age Over 8 Years Sewer: City Sewer/Connected Stories: Two Tenant Pays: Cable TV; Electricity; Fuel Water: City Water/Connected

Contract Information

Off Market Date
2025-07-07
Closed Date
2025-06-27
Sales Close Price
5585000
Contingency
None
ListPrice
5895000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

Postal City
Rochester
County
Olmsted
State
MN
Zip Code
55904
Complex/Dev/Subdivision
Cavalier Condos

Additional Parcels Information

Property ID #2
630632084743

Assessments

Assessment Balance
562.2
Tax With Assessments
57735.24

More Information

Building Information

Building Finished SqFt
93600

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
13
Section#
6
Township#
106

Sale Options

Sale Includes
Building, Fixture/Equipment, Land, Leases, Rental License

Unit 2

No. of 2 Bedroom Units
5

Unit 3

No. of 3 Bedroom Units
75

Unit Details

Total Units
80
IDX
Listing Office: RE/MAX Results
Last Updated: July - 08 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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