For Sale: Rochester MLS# 7101999
Active
NEW!
$649,900
Commercial: 1 Story
8 br • 4 ba • Built 1962
0.194 acres
Rochester schools
MLS# 7101999
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Property Description
Completely remodeled from top to bottom, this turnkey 4-plex is an outstanding investment opportunity in the heart of Rochester! Whether you're a seasoned investor looking to expand your portfolio or a first-time buyer searching for a low-maintenance income property, this one checks all the boxes.
Every major component has been updated with quality and longevity in mind, including new plumbing, electrical, boiler system, water heater, kitchens, bathrooms, and much more. All renovations were completed with the proper permits and have received occupancy approval from the City, giving buyers added confidence and peace of mind.
The property features four fully occupied 2-bedroom, 1-bath units, each thoughtfully designed with its own in-unit laundry. Every apartment is served by efficient boiler heat while also offering the comfort and flexibility of an individual mini-split system with both air conditioning and heat pump functionality. Electric is individually metered, making utility management simple and efficient.
Located just minutes from everything Rochester has to offer—including world-class healthcare, dining, shopping, entertainment, parks, and major employers—this property combines a prime location with extensive improvements and reliable rental income. Opportunities to purchase a fully renovated, fully occupied multifamily property of this caliber are few and far between. Schedule your showing today and see why this investment stands out from the rest!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$649,900
Property Type:
Commercial
City:
Rochester
Garage Spaces:
0
County:
Olmsted
Year Built:
1962
State:
MN
Property Style:
1 Story
Zip Code:
55902
Subdivision Name:
Graham Add - Torrens
Interior
Bedrooms:
8
Bathrooms:
4
Ceiling Height:
Less Than 8 Feet
Flooring:
Luxury Vinyl Plank
Refrigerators:
Four
Appliances Included:
- Dishwasher
- Dryer
- Microwave
- Range
- Refrigerator
- Washer
Basement Details:
Finished
Exterior
Stories:
One
Garage Spaces:
0
Garage Dimensions:
0
Garage Door Height:
0
Garage Door Width:
0
Air Conditioning:
Ductless Mini-Split
Foundation Size:
1,672 ft2
Foundation Dimensions:
28x60
Handicap Accessible:
None
Heating System:
- Baseboard
- Heat Pump
Parking Features:
- Concrete
- Paved Lot
Unit Amenities:
- Ceiling Fan(s)
- Kitchen Window
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.194
Geolocation:
44.003772, -92.467798
Inclusions:
Building, Land, Rental License
Lot Dimensions:
110 x 77
Zoning:
Residential-Multi-Family
Lot Description:
Corner Lot
Schools
School District:
535
District Phone:
5073283000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
$1,800
Annual Insurance Expense:
$2,400
Annual Maintenance Expense:
$1,800
Annual Trash Expense:
$600
Annual Water/Sewer Expense:
None
Tenant Expenses:
Electricity, Water
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$6,636
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$6,636
Income
Annual Gross Income:
$65,400
Rent
Annual Net Income:
$57,000
Units
Total Units:
4
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
Electric Separate
Water System:
City Water/Connected
Mortgage Calculator
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Harbor Realty & Management Gro.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.