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City Side Estates 600 Burton Ln 36 Unit Apartment Building $3,802,400 CAD ($105,622 CAD/Unit) Fairmont, MN 56031
Investment Highlights
- Located in an "Opportunity Zone"
- Great location within blocks of groceries and retail
- Strong Occupancy Rates
- Coin Laundry is owned and Included
Executive Summary
City Side Estates is a well-maintained, 36-unit apartment community with 19 garages, strategically located within a designated Opportunity Zone on the southeast side of Fairmont. The property benefits from strong and consistent occupancy, offering investors both stability and upside potential.
Conveniently positioned near grocery stores, retail centers, schools, and the Mayo Clinic Health System, the location supports continued tenant demand and long-term desirability. The property features durable Chicago brick construction, complemented by attractive common areas with tiled hallways. Upper-level units (second and third floors) offer sliding glass doors that open to private decks, enhancing tenant appeal. A number of units have been updated, providing a blend of classic construction and modern improvements. Buyers requesting financial information and tours should provide a signed N.D.A. with proof of funds. Please contact listing Broker Kevin Goettl to schedule your tour today!
Conveniently positioned near grocery stores, retail centers, schools, and the Mayo Clinic Health System, the location supports continued tenant demand and long-term desirability. The property features durable Chicago brick construction, complemented by attractive common areas with tiled hallways. Upper-level units (second and third floors) offer sliding glass doors that open to private decks, enhancing tenant appeal. A number of units have been updated, providing a blend of classic construction and modern improvements. Buyers requesting financial information and tours should provide a signed N.D.A. with proof of funds. Please contact listing Broker Kevin Goettl to schedule your tour today!
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$544,965
|
$14.79
|
| Other Income |
$21,049
|
$0.57
|
| Vacancy Loss |
$26,196
|
$0.71
|
| Effective Gross Income |
$539,819
|
$14.65
|
| Taxes |
$52,514
|
$1.43
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$52,514
|
$1.43
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $544,965 |
| Annual Per SF | $14.79 |
| Other Income (CAD) | |
|---|---|
| Annual | $21,049 |
| Annual Per SF | $0.57 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $26,196 |
| Annual Per SF | $0.71 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $539,819 |
| Annual Per SF | $14.65 |
| Taxes (CAD) | |
|---|---|
| Annual | $52,514 |
| Annual Per SF | $1.43 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $52,514 |
| Annual Per SF | $1.43 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $3,802,400 CAD | Building Class | C |
| Price Per Unit | $105,622 CAD | Lot Size | 2.02 AC |
| Sale Type | Investment | Building Size | 36,840 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 94% |
| No. Units | 36 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1978/2008 |
| Property Subtype | Apartment | Parking Ratio | 1.09/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R - Residential Multi-Family | ||
| Price | $3,802,400 CAD |
| Price Per Unit | $105,622 CAD |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.02 AC |
| Building Size | 36,840 SF |
| Average Occupancy | 94% |
| No. Stories | 3 |
| Year Built/Renovated | 1978/2008 |
| Parking Ratio | 1.09/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R - Residential Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Ceiling Fans
- Eat-in Kitchen
- Tub/Shower
- Carpet
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,086 CAD | 700 |
| 2+1 | 34 | $1,222 CAD | 850 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 232650020 | Total Assessment | $2,747,276 CAD (2025) |
| Land Assessment | $169,637 CAD (2025) | Annual Taxes | $52,514 CAD ($1.43 CAD/SF) |
| Improvements Assessment | $2,577,639 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
232650020
Land Assessment
$169,637 CAD (2025)
Improvements Assessment
$2,577,639 CAD (2025)
Total Assessment
$2,747,276 CAD (2025)
Annual Taxes
$52,514 CAD ($1.43 CAD/SF)
Tax Year
2026
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City Side Estates | 600 Burton Ln
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