1902 & 2008 8 1/2 Street SE, Rochester, MN 55904

General Property Information

Lot Measurement: Acres
Multiple PIDs?: Yes
Owner Occupied: No
Year Built: 1978
Yearly/Seasonal: Yearly
Zoning: Business/Commercial, Residential-Multi-Family
Foundation Size: Yes
For Sale or Lease: For Sale
Acres: 5.45
Lot Dimensions: 594x404
Assessment Pending: Unknown
Other Parking Spaces: 0
Garage Stalls: 0

Property Features

Accessible: None Appliances: Cooktop; Refrigerator Basement: Full; Slab CMU Style: Apartments/Multi Family; Freestanding; Low Rise Construction Status: Previously Owned Current Use: Commercial; Residential Existing Financing: Free and Clear Exterior: Vinyl Financing Terms: Conventional Foundation: Slab Fuel: Natural Gas Heating: Baseboard Loan Terms: Cash; Conventional On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate Parking Characteristics: Paved Lot; Unassigned; Uncovered/Open Rental License Type: Standard Roof: Age Over 8 Years Sewer: City Sewer/Connected Stories: Two Tenant Pays: Cable TV; Electricity; Fuel Water: City Water/Connected

Contract Information

Off Market Date: 2025-07-07
Closed Date: 2025-06-27
Sales Close Price: 5585000
Contingency: None
ListPrice: 5895000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 1902 & 2008
Street Name: 8 1/2
Street Suffix: Street
Street Direction Suffix: SE
Postal City: Rochester
County: Olmsted
State: MN
Zip Code: 55904
Complex/Dev/Subdivision: Cavalier Condos

Additional Parcels Information

Property ID #2: 630632084743

Assessments

Assessment Balance: 562.2
Tax With Assessments: 57735.24

More Information

Building Information

Building Finished SqFt: 93600

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 13
Section#: 6
Township#: 106

Sale Options

Sale Includes: Building, Fixture/Equipment, Land, Leases, Rental License

Unit 2

No. of 2 Bedroom Units: 5

Unit 3

No. of 3 Bedroom Units: 75

Unit Details

Total Units: 80

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: SECT-06 TWP-106 RANGE-013 CAVALIER CONDOS LOT 4 BLK 1 REPLAT OF LOT 1 BLK 1 CAMPUSTOWN SUBD BLDGS 1902, 1910, 1918, 1926, 1934, 1942, 1950, & 1958 APTS A,B,C,D,E,F,G & H & AN UND 57.143% INT IN COMMON ELEMENTS & AERIAL WAYS IN CAVALIER CONDO ASSOC LO CATED ON LOT 2 BLK 1 CAMPUSTOWN SUBD & LOT 4 BLK 1 REPLAT OF LOT 1 BLK 1 CAMPUSTOWN SUBD
Listing City: Rochester
Map Page: 999
Municipality: Rochester
School District: Rochester
School District Phone: 507-328-3000
Zip Plus 4: 8625
Property ID Number: 630632084742
Tax Year: 2024
Tax Amount: 57173.04
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: $500,000 Price Reduction! 80 Unit Multifamily Investment Opportunity in the heart of highly desirable Rochester. This offering features 10 buildings, totaling 80 units with 76 actively online. The properties are stable, but still offer value add potential with below market rental rates and the ability to build another 4-5 buildings (with necessary approvals). Current ownership remodeled most all of the units since their acquisition in 2016. Properties are enrolled in the 4(d) affordable housing program. Built in 1979 with 93,600 square feet, 2 adjacent parcels on 5.45 acres offering an ideal blend of space and comfort for residents. The portfolio totals 80 units, comprised of 75 units with 3 beds and 2 baths and 5 units have 2 beds and 2 baths. all buildings are similar with solid construction and quality finishes throughout. Zoning is R3 Medium Density Residential.
Directions: Highway 14 and College Dr SE to 8 1/2 St SE.

Accessible

None: Yes

Appliances

Cooktop: Yes
Refrigerator: Yes

Basement

Full: Yes
Slab: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Free and Clear: Yes

Exterior

Vinyl: Yes

Financing Terms

Conventional: Yes

Foundation

Slab: Yes

Fuel

Natural Gas: Yes

Heating

Baseboard: Yes

Parking Characteristics

Paved Lot: Yes
Unassigned: Yes
Uncovered/Open: Yes

Rental License Type

Standard: Yes

Roof

Age Over 8 Years: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Water

City Water/Connected: Yes

Tenant Pays

Cable TV: Yes
Electricity: Yes
Fuel: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: Yes
Hot Water Separate: Yes

CMU Style

Apartments/Multi Family: Yes
Freestanding: Yes
Low Rise: Yes

Current Use

Commercial: Yes
Residential: Yes

Loan Terms

Cash: Yes
Conventional: Yes