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514 Main St E 7 Unit Apartment Building $809,238 CAD ($115,605 CAD/Unit) 7.70% Cap Rate New Prague, MN 56071
Executive Summary
Great investment property. Recently refurbished, 7 units total, include one 3-bedroom, five 1-bedrooms and a studio. Large 2 stall detached garage/workshop w/11 storage units available. All units currently under leases-cash flow is positive. Zoned High-Density Residential (RH1). Good for townhouses and apartments. Conditional use nursing home/assisted living facility. Property is located on high visibility parcel on the main east/west thoroughfare through New Prague. Site provides plenty of parking and has New Prague Park in its back yard.
Property Facts
| Price | $809,238 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $115,605 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 2.20 AC |
| Cap Rate | 7.70% | Building Size | 4,400 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1930/2023 |
| Property Subtype | Apartment | Parking Ratio | 2.27/1,000 SF |
| Zoning | RH - High Density Residen | ||
| Price | $809,238 CAD |
| Price Per Unit | $115,605 CAD |
| Sale Type | Investment |
| Cap Rate | 7.70% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.20 AC |
| Building Size | 4,400 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1930/2023 |
| Parking Ratio | 2.27/1,000 SF |
| Zoning | RH - High Density Residen |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 4 | - | - |
| 3+1 | 1 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 23.003.2540 | Improvements Assessment | $410,272 CAD |
| Land Assessment | $200,933 CAD | Total Assessment | $611,205 CAD |
Property Taxes
Parcel Number
23.003.2540
Land Assessment
$200,933 CAD
Improvements Assessment
$410,272 CAD
Total Assessment
$611,205 CAD
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514 Main St E
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