Remarks

Discover the Runestone Grand Apartments, a prime investment opportunity featuring a fully-rented 8-unit apartment building in Kensington, MN. This property comprises seven spacious 2-bedroom, 1-bath units (approx. 875 sq ft each) and one cozy 1-bedroom, 1-bath unit (approx. 550 sq ft). Most units have undergone extensive renovations, showcasing modern appliances, updated flooring, fresh paint, updated plumbing, and lighting. Tenants cover their own electricity and optional internet/cable, while the owner is responsible for water, sewer, trash, and snow removal. Fiber-optic internet is available to each unit. Efficient heating and cooling systems. Low-maintenance steel siding. Each unit features wall-mounted air conditioning and electric baseboard heating (metered separately to each unit). A shared coin-operated laundry facility and off-street parking are available to tenants. Currently generating a gross monthly income of $6,160. With a list price of $685,000, the projected cap rate for Runestone Grand is over 8%. This investment offers consistent cash flow in a desirable rental market. Don’t miss your chance to own a well-maintained apartment complex in West Central MN!

Details

MLS#: 6689872
Price: $685,000

Bedrooms: 15
Year Built: 1984

County: Douglas-MN
Subdivision: Original Kensington
Tax Fee: 4057.00