16 Unit Apartment Building | SOLD

CBC Orion is pleased to offer for sale Meadowbrook Apartments, conveniently located just off Division Street in Gaylord, MN. Great location with close proximity to neighboring restaurants, retail, schools, etc. Location is approx. 45 miles southwest of the Twin Cities & 30 miles from Mankato. This nicely updated apartment property has undergone extensive renovations over the years, consisting but not limited to; vinyl siding, steel roof, new parking lot, kitchen cabinets, updated bathrooms, appliances, flooring, paint, etc. This offering represents an excellent opportunity to acquire a nicely updated, stabilized apartment property with a great location and minimal competition in the market.

More details: 

Offering consists of (1) One - Two story apartment building totaling 14,000+/- square feet on approximately 1.08 AcresBuilding consists of 16 total Units - 10 – 2 Bedroom Units and 6 – 1 Bedroom Units. Spacious floor plans consisting of kitchen, dining, spacious living room area, and ample closet space. Units are equipped with range/oven, fridge/freezer, and wall AC unit. There are two laundry rooms located on-site. Primary heat source is natural gas boiler system.

The city of Gaylord is the county seat for Sibley County and has a county population of 15,000. Local unemployment at a low 3.9%. Additionally, the city has recently announced plans moving forward for a new Osteopathy college opening in 2020 (Meadowbrook is approximately 3 blocks from the college), which is projected to bring significant growth to the community.

Special Features: 
  •     Low Price Per Unit ($37,188/unit)
  •     Spacious Units
  •     2 Laundry Rooms     
  •     Exterior – Vinyl Siding and Steel Roof
  •     Heat Source – Gas Fired Boiler Radiant Heat System
  •     Many Updates to the Property
County: 
Sibley
Parcel #: 
R32.0651.000
Land Area: 
1.08 Acres
Size of Building: 
14,000 +/- SF
# of Units: 
Total of 16 comprised of 10 – 2 Bedroom Units and 6 – 1 Bedroom Units
Utilities: 
City Water & Sewer Services
Parking: 
approx. 24 stalls
Price: 
SOLD | $595,000
Views: 
283