219 7th St N - Apartments FOR SALE


Sartell, MN 56377
$8,100,000 USD
952-836-5742
219 7th St N, Sartell, MN for Sale
$8,100,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

219 7th St N
Sartell, MN 56377


HIGHLIGHTS

  • Market rate housing | New Parking Lot 2023
  • High occupancy rental driven market
  • Well maintained and professionally managed
  • On-site laundry and garages. Concrete block construction
  • Opportunity for further returns by bringing rents to market levels

OVERVIEW

Marcus & Millichap, as the exclusive listing broker, is pleased to present Hillside Apartments, a 96-unit multifamily property located in Sartell, Minnesota. This property is being offered for sale on a free-and-clear basis. Sartell, Minnesota, has experienced significant economic growth and diversification in recent years. The city boasts a low unemployment rate of 4.7%, and a median household income of $77,465, both surpassing national averages. Key industries driving this economic expansion include healthcare, manufacturing, and retail. CentraCare, a prominent regional healthcare provider, has been instrumental in attracting related businesses and services to the area. Manufacturing also plays a vital role, with companies like DeZURIK, a valve manufacturing firm, contributing significantly to local employment and economic activity. Additionally, the retail sector has flourished, offering a variety of shopping options that cater to the community’s needs. Sartell’s strategic location, just north of St. Cloud, enhances its appeal to businesses and residents alike. The city offers a cost of living approximately 6.3% lower than the national average, making it an attractive destination for families and professionals. Ongoing urban development initiatives aim to further enrich the community, including plans for a new downtown area and expanded retail opportunities. These efforts, combined with a strong emphasis on public safety and community well-being, position Sartell as a city with a promising and sustainable economic future. Hillside Apartments features an all two-bedroom unit mix with condo quality build and large balconies. The property has held historically high occupancy as well as year over year rent growth.

FOR SALE DETAILS

PRICE

$8,100,000 USD

PRICE/SF

$85 USD /SF

# OF UNITS

96

PRICE/UNIT

$84,375

CAP RATE

Request Cap Rate

% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hillside Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

-

LAND DETAILS

LAND ACRES

9.03 AC

LAND SF

393,347 SF

ZONING

-

APN/PARCEL ID

92.56511.0100

ASK ABOUT THIS PROPERTY

Chris CollinsMarcus & MillichapMore Info
952-836-5742

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Chris CollinsMarcus & MillichapMore Info
952-836-5742

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