Renville Apartment – INVESTMENT FOR SALE

419 Bryant Avenue Northwest, Renville, MN 56284

Listing Details

  • Property Type: Multifamily
  • Listing Type: For Sale
  • Square Footage: 3,840 SF
  • Price $950,000.00

Renville Apartments General Information:

  • Located in the great small town of Renville, MN named after Joseph Renville.
  • Renville, MN is approximately 2 hours west of Minnetonka, MN off Highway 212.
  • The town of Renville is located close to the MN River Valley. It is largely an agribusiness based community of 1,259 people.
  • Renville serves as an agricultural service and distribution center for the surrounding area with rail serving the area.
  • The City boasts the world’s largest sugar beet processing plant.
  • The buildings have been very well maintained by the owner and have many updates in the apartments such as newer bathrooms, cabinets and carpet.

Limiting Conditions

This Investment Offering package (“Package”) has been prepared by Summerhill Commercial Real Estate, LLC (“Summerhill”) for information purposes only and does not claim to have all the information necessary to reach a decision to purchase or not. The information in this Package has been carefully assembled from sources considered reliable and while it is not guaranteed in completeness and accuracy, Summerhill believes it to be correct as of this date

 

This Package is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement, or advice as to the value of the property. Each prospective buyer should rely on it his or her own due diligence, investigation, evaluation, and judgments as to the advisability of purchasing the property described in this Package.

 

Any proforma income and expenses contained in this Package do not constitute a representation, warranty, or a guaranty of any of the numbers contained in this Package or of any economic value attributable to the property or income that may be deduced as a result. Prospective buyers should develop their own independent estimates of proforma income and expenses before making any decisions on whether to purchase the property.

 

This package is the property of Summerhill and may be used only by parties to whom Summerhill has delivered the Package or to whom Summerhill has approved delivery of the Package to. By accepting a copy of this Package, the party who has possession thereof agrees to return it to Summerhill immediately upon request and to not duplicate or forward it to any other parties without written authorization
No representations are made as to changes in the status of the property subsequent to the date of this Package.
No copies of this Package may be made without Summerhill’s prior written consent and no excerpts or summaries thereof may be distributed, reproduced, or included in any documentation without such consent.

 

Thank you for this accommodation and for your time in considering the purchase of the property. We also thank you in advance for not discussing aspects of the Property with any of the Tenants. All visits to the Property will need to be coordinated through Summerhill.

 

Executive Summary

Summerhill Commercial Real Estate, LLC, as exclusive agent for the owner, is pleased to offer this quality apartment building for sale.

 

The property is located in Renville, MN. The City of Renville is located 100 miles west of the Twin Cities on US Highway 212 and is situated near the Minnesota River Valley in a fertile agricultural area known for high productivity. Renville’s economy, past and present, is based largely on agribusiness. Renville serves as an agricultural service and distribution center for the surrounding area and boasts the world’s largest sugar beet processing plant as well as other thriving industrial operations. Renville offers affordable housing opportunities and employment opportunities. a quiet and hardworking city approximately 2 hours west of the Twin Cities just off Highway 212. The main employers are agriculture and agribusiness related.

 

The City has three beautiful parks, a swimming pool, tennis court, outdoor ice skating, several churches, a community center that offers a ballroom, a library, and a wonderful senior living community run by St. Francis Health Services.

 

Renville boasts a quality workforce and offers many employment opportunities including KM Manufacturing, Renville Health Services, Larkin Tree and Landscaping, H&L Motors, and Southern Minnesota Sugar Beet Coop to name a few. The community takes pride in its streets, well maintained parks and welcomes commercial, industrial, and residential development.

 

The City and County of Renville were named for Joseph Renville. The City of Renville was platted in 1878, when the railroad reached the area. It was incorporated in 1906 and has grown from a population of 250 in 1900 to 1,259 residents today.

 

Renville Apartments is 2 building complex with eight units in each building. It was built in 1977 and is in excellent condition. Each building consists of 7 two bedroom apartments, 1 one bedroom apartments, each with a laundry room. The property has recent improvements to most units and is located in a quiet neighborhood. The units offer spacious and attractive accommodations to the tenants. The sale shall be on an “as is-where is” basis for cash. The tenants are unaware the properties are being marketed for sale. Thank you in advance you’re your cooperation in not disturbing the tenants. If you have any questions, or would like to schedule a tour, please call Joe Smith at 952-475-5122 or email him at jsmith@summerhillcommercial.com or Peter Kordonowy at 952-475-5135 or e-mail him at peterk@summerhillcommercial.com.

 

Summerhill Commercial Real Estate, LLC, as the exclusive agent of the owner is pleased to offer Renville Apartments for sale. Following is additional

 

information on the property:

  • Property Address:419 and 427 Bryant Avenue NW, Renville,
    Minnesota, 56284
  • Offering Price:$950,000.00
  • Price per Unit:$68,438 per unit
  • Building Size: Approximately 7,680 square feet total per building
    Approximately 3,840 sf each floor per building.
  • Year of Construction:1977
  • Property Information:Two (2) eight (8) unit buildings. The exterior has
    siding, stone accents and a mansard roof. Each
    building consists of seven spacious (2) bedroom
    apartments, one (1) bedroom apartment with
    shared laundry room.
  • PID Number:36-04915-00
  • Tax Information:$8,440 annual real estate tax.
  • Terms:Cash or new financing.
  • Financial Summary:NOI of $66,607/6.1% cap rate,

Property Highlights:

  • Quiet, stable, small town of Renville, MN
  • Agriculture, agri-business and manufacturing
    are primary industries.
  • Tightly knit community about 2 hours west of the
    Twin Cities
  • Community Center houses a ballroom, City Hall
    and public library
  • Several local parks.
  • Very well-maintained property with updated
    units and updated landscaping. Parking lot
    with sixteen (16) spaces.
  • Attractive curb appeal.
  • Owned coin-op laundry facilities.
  • Cable and satellite available to tenants.

Property Tax Information

  • Property ID Number:36-04915-00
  • 2018 Tax Value:$$260,300 Property Assessed Value
  • 2018 Property Taxes:$8,440