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CITY
Duluth, MN
UNITS
53
SALES PRICE
$3,360,000
DOWN PAYMENT
$840,000
TERMS
Cash or Submit
Highlights

Please contact
Maddy Butler at (952) 465-3572
Tom Cooper at (952) 465-3576

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Description

 St. Mary’s Apartments and 5th Street Properties in Duluth, Minnesota offer a rare investment opportunity in the conveniently located Central Hillside neighborhood directly uphill from the downtown area and the shores of Lake Superior. The portfolio consists of four classic property types most of which have been fully-restored and impeccably-appointed and maintained. The assets include a 36-unit apartment complex, three fourplexes, a triplex, and a duplex for a total of six properties.

Built between the late 19th and early 20th centuries, the rental properties, which offer studios and lofts through three bedroom units, have maintained original architectural styles and finishes and have been upgraded with modern kitchen appliances and mechanicals. All the properties are in close proximity of each other and offer a variety of floor plans.

Examples of classic features & upgrades in all or many of the buildings include: original woodwork, hardware, wood floors, built-in cabinets, clawfoot tubs, new roofs, solar panels, windows, water heaters, and boilers.

The six-building portfolio presents a stable investment opportunity with solid rental history. Property values in Duluth are rising , and this submarket is expected to show continued strength.

St. Mary’s Apartments and 5th Street Properties in Duluth, Minnesota offer a rare investment opportunity in the conveniently located Central Hillside neighborhood directly uphill from the downtown area and the shores of Lake Superior. The portfolio consists of four classic property types most of which have been fully-restored and impeccably-appointed and maintained. The assets include a 36-unit apartment complex, three fourplexes, a triplex, and a duplex for a total of six properties.

Built between the late 19th and early 20th centuries, the rental properties, which offer studios and lofts through three bedroom units, have maintained original architectural styles and finishes and have been upgraded with modern kitchen appliances and mechanicals. All the properties are in close proximity of each other and offer a variety of floor plans.

Examples of classic features & upgrades in all or many of the buildings include: original woodwork, hardware, wood floors, built-in cabinets, clawfoot tubs, new roofs, solar panels, windows, water heaters, and boilers.

The six-building portfolio presents a stable investment opportunity with solid rental history. Property values in Duluth are rising , and this submarket is expected to show

 continued strength.

 

Summary
Property Type
6 Building Portfolio
Year Built
late 19th early 20th
Units / Rents
Please see brochure
Heating & Air Conditioning
Varies
Laundry
Varies
Assessed Market Value
$ Varies
Real Estate Taxes
2015 - $28,776
Parcel Size
acres
Parking
Varies
Roofs
Varies
©2008 MINNESOTA BROKERAGE GROUP
4725 Excelsior Blvd. Suite 500 / Minneapolis, MN. 55416
952.922.4405