952-852-9700
1903 17th St SE, Rochester, MN for Sale
Apartments - FOR SALE
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1903 17th St SE
Rochester, MN 55904
East Rochester


HIGHLIGHTS

  • Meticulously maintained 72-unit asset featuring spacious one-bedroom layouts averaging 655 SF, each with individual forced-air furnaces.
  • Long-term ownership and on-site leasing office provide operational stability and a seamless resident experience.
  • Significant value-add opportunity through raising below-market rents—currently averaging $753/month—to market levels.
  • Located on a 3.03-acre site with approximately 188 surface parking stalls, offering ample parking for residents and guests.
  • Prime location near McQuillan Park with easy access to shopping, dining, and major Rochester employment drivers, including Mayo Clinic.
  • Situated in one of Minnesota’s strongest rental markets, supported by population growth, low vacancy rates, and robust demand for workforce housing.

OVERVIEW

Marcus & Millichap, as the exclusive listing agent, is pleased to present for sale Sutton Place Apartments. Sutton Place Apartments is a meticulously maintained, 72-unit multifamily community located in the thriving city of Rochester, Minnesota. Built in 1979 and under long-term ownership, the property consists entirely of spacious one-bedroom units averaging 655 square feet. Each residence is equipped with its own individual forced-air furnace, providing tenants with efficient and customizable heating. The property also features an on-site leasing office, offering convenience and responsive management for residents. Situated on a 3.03-acre site, Sutton Place offers abundant surface parking with approximately 188 spaces, accommodating both, residents and guests. The property is just steps from McQuillan Park’s baseball fields and enjoys close proximity to a range of local amenities including retail centers, entertainment venues, and highly rated restaurants—combining suburban tranquility with urban convenience. Rochester, home to the world-renowned Mayo Clinic, is one of Minnesota’s fastest-growing cities and a top destination for healthcare professionals and students alike. The strong employment base, low vacancy rates, and consistent population growth have fueled demand for quality rental housing, creating a landlord-favorable market with upward pressure on rents. Sutton Place Apartments presents a compelling value-add opportunity through strategic rent increases to align with current market levels. With average rents currently at $753 per month—well below comparable properties—investors have the potential to significantly increase NOI with minimal capital outlay. This, combined with the asset’s well-maintained condition, prime location, and stable occupancy, makes Sutton Place a rare and attractive investment in one of Minnesota’s most resilient and dynamic rental markets.

FOR SALE DETAILS

PRICE

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# OF UNITS

72

CAP RATE

Request Cap Rate

% LEASED

99%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sutton Place

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1979

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.03 AC

LAND SF

131,987 SF

ZONING

-

APN/PARCEL ID

63.07.23.020379

ASK ABOUT THIS PROPERTY

Abe RobertsMarcus & MillichapMore Info
952-852-9700

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Abe RobertsMarcus & MillichapMore Info
952-852-9700

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.