$975,000 USD
612-963-5147
8963 Syndicate Ave
Lexington, MN 55014
Outer Coon Rapids/Fridley/Blaine
HIGHLIGHTS
- Priced to sell quickly! See Two Open House Dates/Times.
- Well located apartment building, close to the freeway, bus lines, restaurants, schools/parks and area amenities.
- A mix of original, remodeled and refreshed units throughout the building creates an ideal situation for an investor.
- Low cost option in the area, with the ability to increase NOI with building improvement.
- Plus leverage strong in-place income along with short-term leases to add value over time.
OVERVIEW
Introducing a prime investment opportunity in Lexington, MN. This
8,960 SF multi-family property boasts 16 units, with 15, 1BR/1BA
and 1 Studio Apartment. Ample parking, green space, built in 1960
& zoned R-4, this property has future redevelopment potential.
The current short-term, below-market leases offer flexibility for the
new owner to increase NOI via building improvements.
FOR SALE DETAILS
PRICE
$975,000 USD
PRICE/SF
$163 USD /SF
# OF UNITS
16
PRICE/UNIT
$60,938
CAP RATE
Request Cap Rate
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1960
PARKING SPACES
15
LAND DETAILS
LAND ACRES
0.44 AC
LAND SF
19,349 SF
ZONING
R-4
APN/PARCEL ID
35-31-23-13-0029
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612-963-5147
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612-963-5147
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