Gomberg Report >
Minnesota

Updated 7/11/2012
Click on the thumbnail picture to view larger size picture.
Contact broker for more information.

 

Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
Anoka
36 unit
2.3M
85% Financing Available
NOI=197K
63,888
Fairway Flats consists of one 3 story building with a brick exterior. There are 6 1BR, 24 2BR and 6 3BR units. 24 units have prestressed concrete balconies with patio doors. There are 24 garages and 60 surface parking stalls. The common area features include an outdoor pool, outdoor patio/barbeque area and fitness equipment. The interior common areas in the building were redecorated in December, 2011. 24 units have been refurbished in 2011 and 2012. This includes new kitchen cabinets, new flooring, new stainless steel appliances, new carpet and paint. The other 12 units are leased and will be refurbished if the tenants do not renew their leases. Newer roof and two new boilers and water heaters.
John Sheehan 612-600-6152
Saint Paul
48 unit
2.64M
85% Financing Available
NOI=227K
55,000
Woodbridge is a 48 unit apartment complex that is made up of two buildings. This site has 24 one bedroom apartments and 24 two bedroom apartments. The apartments are spacious, with normal amenities for a C class building. This asset does have 20 single car garages that are rented separately. The apartments are spacious and in good condition.
William Cullen 952-934-0468