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CITY
New Brighton , MN
UNITS
34
SALES PRICE
$1,844,000
DOWN PAYMENT
$352,000
TERMS
CD or Submit
Highlights
  • Roofs (3-yrs. old)
  • Common area carpeting (3 years old)
  • Decks (5 years)
  • Windows (5 years)
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Description

Silver Lake Apartments consists of two all brick buildings with 34 one- and two-bedroom units.  This well-groomed property is attractively landscaped, and is situated in a quiet, residential neighborhood in New Brighton, Minnesota. 

Marketable features include individual decks, ceramic tile entries with large windows, fully-carpeted hallways and stairs, and an on-site caretaker.  A large well lit laundry facility is equipped with two washers and dryers, oversized washtubs, and individual lockers for tenants. 

Individual apartments are spacious and light with plenty of closet space.  Kitchens are equipped with all-white appliances, vent hoods above the range, and vinyl floor coverings.  Bathrooms also include full vanities with lighted mirrors and ceramic tile floors and tub surrounds. 

The City of New Brighton, in Ramsey County, is located 19 miles north of the Twin Cities metro area at the intersection of 35W and 694.  The community consists of many retail and recreational establishments including nearly 500 acres of parks as well as two lakes.  According to Apartment Ratings, between 2008 and 2009 average rents have increased slightly from $679 to $713 for one-bedroom units, and $770 to $841 for two bedrooms.

Summary
Property Type
3 story brick building
Year Built
1964
Units / Rents

10 - 1 BR - $593

24 - 2 BR - $695

Heating & Air Conditioning
Gas fired hot water
Wall units
Laundry
2 Washers & 2 Dryers Leased
Assessed Market Value
$1,768,000
Real Estate Taxes
2009 - $26,632
Parcel Size
1.2acres
Parking
Ample off street parking
Roofs
Pitched - shingled (2003)
©2008 MINNESOTA BROKERAGE GROUP
4725 Excelsior Blvd. Suite 500 / Minneapolis, MN. 55416
952.922.4405