107 & 117 3rd Ave S (20 Apartments)
210 1st St (3bd, 2ba House) Sauk Rapids, MN
Total Project Sale Price: $1,650,000
•210 1st Sale Price: $198,000
•Apartments Sale Price: $1,452,000
•Price Per Apt: $72,400
•Apt Unit Mix: 17 2 BD/1BA; 3 1BD/1BA
•Property IDs 190029700,190029600, 19029500
•Heating: Boilers, LL pays, Partial Recapture
•Cooling: Thru-wall, Tenants Pay
•Roof: Gabled, Asphalt Shingle; New 2020
•Property Type: 2 bldgs, brick exterior, 2 & 3 levels
•Parking: 12 garages (rented), 2 parking lots
•Laundry: In building, coin operated
•Utilities: Landlord pays heat, water, trash (partial recaptured)
Tenants pay electrical & internet/cable
2020 Appraisal: $1,500,000, before current rent increases
Capital Projects include:
•Apartment Bath, flooring, & closet updates and kitchen repair 2017-2020
•Roof 2020
•Tuck point repair 2023
•Boiler system improvement 2024
•Periodic appliance replacement
Average rent for 2 bedroom, 1 bath apartment in Sauk Rapids is approximately $1,260 / month According to Google AI
Zillow estimates market rent for this address at $960 / month
Current rents average approximately $800 / month
Proforma (in pictures) imagines an increase to $850 / month