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BBC Apartments 422 Belgrade Ave 15 Unit Apartment Building $4,117,710 CAD ($274,514 CAD/Unit) 6.88% Cap Rate North Mankato, MN 56003
Investment Highlights
- Premium North Mankato location just steps from downtown, built in 2013.
- Ample off-street parking, in-unit laundry, and high-quality retail and office space.
- Quick connections to Highway 169 and proximity to downtown Mankato.
- Compelling value-add opportunity with upside in apartment and retail rental rates.
- Newer construction built in 2013, reducing near-term capital expenditure risk.
- Lower North Mankato corridor benefits from residential density and commercial activity.
Executive Summary
Kurt Sauer
License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
Property Facts
| Price | $4,117,710 CAD | Building Class | B |
| Price Per Unit | $274,514 CAD | Lot Size | 0.69 AC |
| Sale Type | Investment | Building Size | 24,102 SF |
| Cap Rate | 6.88% | Average Occupancy | 100% |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2013 |
| Property Subtype | Apartment | Parking Ratio | 1.49/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $4,117,710 CAD |
| Price Per Unit | $274,514 CAD |
| Sale Type | Investment |
| Cap Rate | 6.88% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.69 AC |
| Building Size | 24,102 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2013 |
| Parking Ratio | 1.49/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- High Speed Internet Access
- Range
- Walk-In Closets
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $3,896,347 CAD | |
| Land Assessment | $534,308 CAD | Total Assessment | $4,430,656 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$534,308 CAD
Improvements Assessment
$3,896,347 CAD
Total Assessment
$4,430,656 CAD
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BBC Apartments | 422 Belgrade Ave
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