Property Listing
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.
Property Information
Status: Active
Sub Type: ********
List Price: $580,000
MLS#: 6692410
Current Price: $580,000
Address: 310 5th Street SE, Rochester, MN 55904
City: Rochester
State: MN
Postal Code: 55904
Geo Lat: 44.017799
Geo Lon: -92.457878
Subdivision: East Rochester Add-Part Torrens
County: Olmsted
Property Description
Year Built: 1961
Lot Size SqFt: 7840.8
Gen Tax: 7880
Specials Inst: 0
High School: ********
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Total SqFt.: ********
Style: ********
Total Bedrooms: 12
Total Bathrooms: 7
Total Full Baths: ********
Garage Type:
Garage Stalls: 0
Waterfront:
Property Features
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Inclusions: Rental License
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