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USAMNRochesterEast Rochester Add-Part Torrens310 5Th St Se
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$580,000

310 5 Th St Se, Rochester, MN

Real Estate

For Sale

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  • Key Facts
  • Description
  • Map

Key Facts

Type Condominium
Levels Commercial Sale
Size -
Garage No
Maintenance Fees $3,250
Taxes $7,880
Days Active 48
Approx. Age 1961
MLS® Number 6692410

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

Rare Investment Opportunity in the Heart of Downtown Rochester this unique value-add opportunity featuring 7 total units across two separate buildings, including a single-family home. The unit mix is well poised for amazing return with 5- 2 bedroom 1 bath units and 2 - 1 bedroom, 1 bath units. Located just one block from the Government Center and a short 5-minute walk to the Mayo Clinic, this property is ideally situated near schools, parks, and all the amenities downtown Rochester has to offer. The prime location ensures consistently high occupancy and strong tenant demand. Many tenants have called this property home for 5+ years, with a couple of residents staying for over two decades, showcasing the stability and desirability of this asset. This is a fantastic opportunity for investors looking to enhance income with minimal effort—simply installing RUBS (Ratio Utility Billing System) and completing modest updates could significantly increase revenue. Alternatively, continue operating as-is and enjoy steady, predictable returns from a well-performing asset. An added dog run in the back yard and/or furnished housing could be a couple of potential ways to increase revenue. This property recently passed the city rental license, so no repairs for a couple of years from the city. Whether you're making your first investment or expanding a seasoned portfolio, this property offers location, long-term tenancy, and upside potential. Both buildings have a new roof in 2024. Zoned R3 and across the street from CDC zoning - central development core.Show Description
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No Data
Walk Score®
-
No Data
Transit Score®
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No Data
Bike Score®
MLS® Number6692410
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1961
Stories
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatBoiler
A/CWall Unit(s)
Heating Fuel

Extras

Rental License

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