107 3rd Avenue S, Sauk Rapids, MN 56379

Property Description

Village View Apartments were well built in the mid 1960's with brick walls and gabled, asphalt shingle roofs. The 21 units are composed of an 8 unit building (117 3rd Ave S), a 12 unit building (107 3rd Ave S) and the house next door (210 1st St). The apartment buildings and house on .92 acre, half block and share an alley with US Bank and an office building. The property is just around the corner from Coborn's Grocery and the bus line. The apartments are good size, comfortable, with good natural light, full bath, eat in kitchen, and large living room and are well located - making them easy to rent. Since 2017, the buildings have been consistently maintained - new roof in 2020, bath floor & closet updates, kitchen repairs, tuck point repair 2023, etc... Current rents are below market and offer the new owner the opportunity to increase cash flow. (See pictures for rent roll and proforma).