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Oaks Apartments 905 E Fifth St 11 Unit Apartment Building $584,883 CAD ($53,171 CAD/Unit) 9.13% Cap Rate Blue Earth, MN 56013
Investment Highlights
- Low Vacancy Rate, Class "C" Consistent Cashflow/Income Provider, Walk to Kwik Trip, Tenants Pay Their Own Utilities, Cion Operated W/D Included.
Executive Summary
The Oaks Apartments are located in an "Opportunity Zone." The Oaks offers a 9.1 Cap Rate, a 5.4 GRM, 10% Cash on Cash 1st year with a 1.25 DSCR loan at a 51% operating expense ratio. There are eleven units with a mix of two studio, three one bedroom, five two bedroom, and one three bedroom apartments. The units are well maintained with all repair and maintenance issues addressed promptly and professionally. The Oaks Apartments offers a low vacancy and turn over rate. There are a few legacy tenants. There is plenty of parking for residents and guests. The coin operated washer and dryer on site are owned by the seller and included in the sale. Low maintenance vinyl and stone exterior with a metal roof. The Oaks runs like a well oiled machine!
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$111,752
|
$9.30
|
| Other Income |
$3,102
|
$0.26
|
| Vacancy Loss |
$5,588
|
$0.47
|
| Effective Gross Income |
$109,267
|
$9.09
|
| Taxes |
$7,907
|
$0.66
|
| Operating Expenses |
$47,940
|
$3.99
|
| Total Expenses |
$55,848
|
$4.65
|
| Net Operating Income |
$53,419
|
$4.45
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $111,752 |
| Annual Per SF | $9.30 |
| Other Income (CAD) | |
|---|---|
| Annual | $3,102 |
| Annual Per SF | $0.26 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,588 |
| Annual Per SF | $0.47 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $109,267 |
| Annual Per SF | $9.09 |
| Taxes (CAD) | |
|---|---|
| Annual | $7,907 |
| Annual Per SF | $0.66 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $47,940 |
| Annual Per SF | $3.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $55,848 |
| Annual Per SF | $4.65 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $53,419 |
| Annual Per SF | $4.45 |
Property Facts
| Price | $584,883 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $53,171 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.59 AC |
| Cap Rate | 9.13% | Building Size | 12,014 SF |
| Sale Condition | 1031 Exchange | No. Stories | 1 |
| Gross Rent Multiplier | 5.4 | Year Built/Renovated | 1955/2000 |
| No. Units | 11 | Parking Ratio | 0.92/1,000 SF |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | 233 - Multi-family Res. | ||
| Price | $584,883 CAD |
| Price Per Unit | $53,171 CAD |
| Sale Type | Investment |
| Cap Rate | 9.13% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 5.4 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.59 AC |
| Building Size | 12,014 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1955/2000 |
| Parking Ratio | 0.92/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | 233 - Multi-family Res. |
Amenities
Unit Amenities
- Air Conditioning
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 21.200.5860 | Total Assessment | $381,565 CAD |
| Land Assessment | $115,398 CAD | Annual Taxes | $7,907 CAD ($0.66 CAD/SF) |
| Improvements Assessment | $266,167 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
21.200.5860
Land Assessment
$115,398 CAD
Improvements Assessment
$266,167 CAD
Total Assessment
$381,565 CAD
Annual Taxes
$7,907 CAD ($0.66 CAD/SF)
Tax Year
2025
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Oaks Apartments | 905 E Fifth St
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