Northtown Apartments 1423 6th St N 12 Unité Immeuble d’appartements 1 571 490 $ CAD (130 957 $ CAD/Unité) 7,85% Taux de capitalisation Saint Cloud, MN 56303

Property Description
Northtown Apartments is a 12-unit multifamily property comprised entirely of two-bedroom, one-bathroom units. The property consists of one free-standing, 2.5-story building totaling 11,484 square feet on a 19,800 square foot lot. Built in 1990, the asset is fully occupied and has been well maintained, with recent capital improvements including a new asphalt parking lot completed in 2025 and an architectural asphalt roof estimated to be less than 12 years old. The building features durable steel siding with brick accents, double-pane windows and patio doors, and a controlled intercom entry system. Additional income and operational efficiency are supported by coin-operated laundry and a detached nine-stall garage with individual electric service. The property offers stable in-place operations, functional unit layouts, and consistent tenant demand.
Location Description
The property is located in north Saint Cloud within the St. Cloud MSA, a regional employment and service center for Central Minnesota. The surrounding area is primarily residential with a mix of multifamily and single-family housing, supporting steady rental demand. The location provides convenient access to major roadways, employment centers, retail, dining, and public services throughout Saint Cloud and surrounding communities.
Highlights
12-unit multifamily property consisting of all two-bedroom, one-bathroom units
One free-standing 2.5-story low-rise building
11,484 SF building on a 19,800 SF lot
Built in 1990; well maintained
100% occupied
Architectural asphalt pitched roof (estimated under 12 years old)
Steel siding with brick accents
New asphalt parking lot (2024)
24 surface parking spaces
Detached 9-stall garage with electric service to each stall
Intercom-controlled building access
Exterior security lighting
Metal soffit and fascia
Functional and efficient unit layouts
Large walk-in closets in units
Additional entry/coat storage closets in each unit
Spacious kitchens with dishwashers, peninsula cabinetry, and range hoods
Wall A/C units in all apartments
Double-pane windows and patio doors
Clean, well-maintained interiors
Breaker panels and subpanels in each unit
Natural gas boiler heating system
Newer natural gas water heater
Separately metered electric for each unit
In-building coin-operated laundry (2 washers / 2 dryers)