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Heritage Village 1531 7th Ave S 138 Unit Apartment Building For Sale Sartell, MN 56377
Investment Highlights
- Popular Sartell Location
- Attractive Unit Mix and Large Floor Plans
- Attractive Cash Yield Opportunity
- Strong Employment Drivers in Immediate Area
- Discount to Replacement Cost
- Advantaged Amenity Package Relative to Comp Set and Unit Count
Executive Summary
???????Heritage Village is a 138-unit apartment community offering an outsized yield opportunity coupled with compelling basis story in Sartell Minnesota – the premier suburb in the greater St. Cloud, Minnesota area. Strong employment drivers and excellent school district make this community a top housing choice. The property has maintained high occupancy and currently sits at 95.7%. Heritage Village consists of two buildings of 69 units. Each building has its own fitness center, community center, game room, playroom, and covered heated parking for 70 spaces. There is a leasing office in one of the buildings.
Property Facts
| Sale Type | Investment | Lot Size | 10.46 AC |
| No. Units | 138 | Building Size | 179,772 SF |
| Property Type | Multifamily | Average Occupancy | 93% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 2007 |
| Building Class | B | Parking Ratio | 1.29/1,000 SF |
| Zoning | 4 (4A) | ||
| Sale Type | Investment |
| No. Units | 138 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 10.46 AC |
| Building Size | 179,772 SF |
| Average Occupancy | 93% |
| No. Stories | 3 |
| Year Built | 2007 |
| Parking Ratio | 1.29/1,000 SF |
| Zoning | 4 (4A) |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Vaulted Ceiling
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Wi-Fi
- Patio
- Wheelchair Accessible (Rooms)
- Window Coverings
Site Amenities
- 24 Hour Access
- Controlled Access
- Clubhouse
- Fitness Center
- Picnic Area
- Property Manager on Site
- Gameroom
- Grill
- Planned Social Activities
- Recycling
- Bicycle Storage
- Elevator
- Lounge
- Maintenance on site
- Multi Use Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 44 | - | 640 - 922 |
| 2+1 | 6 | - | 922 |
| 2+1.5 | 24 | - | 1,286 - 1,874 |
| 2+2 | 64 | - | 883 - 1,292 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 92.56705.0076 | Improvements Assessment | $19,455,068 CAD |
| Land Assessment | $3,000,946 CAD | Total Assessment | $22,456,015 CAD |
Property Taxes
Parcel Number
92.56705.0076
Land Assessment
$3,000,946 CAD
Improvements Assessment
$19,455,068 CAD
Total Assessment
$22,456,015 CAD
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Heritage Village | 1531 7th Ave S
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