St Gabriels Apartments | 115 W 3rd St
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St Gabriels Apartments 115 W 3rd St
8 Unit Apartment Building $339,900 ($42,488/Unit) 11.58% Cap Rate Argyle, MN 56713
Executive Summary
Originally built as a hotel in the early 1900's converted to an 8 unit apartment. Roof replaced in 2020, many other updates. Some units are furnished. Website domain included www.stgabrielapartments.com. 4 garage stalls and off-street parking. Price includes some major exterior/foundation updates. Would consider discounted price for cash and "as is"
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $339,900 | Property Subtype | Apartment |
| Price Per Unit | $42,488 | Apartment Style | Mid Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 11.58% | Lot Size | 0.24 AC |
| Sale Conditions | 1031 Exchange | Building Size | 2,100 SF |
| Gross Rent Multiplier | 6.5 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1916 |
| Price | $339,900 |
| Price Per Unit | $42,488 |
| Sale Type | Investment |
| Cap Rate | 11.58% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 6.5 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 2,100 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1916 |
Unit Amenities
- Heating
Site Amenities
- Laundry Facilities
- Furnished Units Available
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $638.00 | 323 |
| 2+1 | 2 | $624.00 | 695 - 756 |
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PROPERTY TAXES
| Parcel Number | 50-0068-000 | Total Assessment | $94,000 (2024) |
| Land Assessment | $3,800 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $90,200 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
50-0068-000
Land Assessment
$3,800 (2024)
Improvements Assessment
$90,200 (2024)
Total Assessment
$94,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | Residential-multi-family (Residential Multi-. in Compliance) |
| Residential-multi-family (Residential Multi-. in Compliance) |
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St Gabriels Apartments | 115 W 3rd St
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