29 Unit Multi-Family Investment Property | Community Park Apartments | SOLD

CBC Orion is pleased to offer for sale – Community Park Apartments, conveniently situated in Paynesville, along Highway 55 just south and east of the intersection of Minnesota Highway 23.  The city recently had a housing study done that indicates there is a need for various size rental units in the city.  This attractive building was constructed in 2016, with combination of brick and vinyl siding exterior and asphalt shingles. This offering represents an excellent opportunity to acquire a well located, newer apartment property with a stabilized rent roll and strong occupancy.

Offering consists of (1) One - three story building totaling 32,604 square feet on 3.2 acres – with 29 units. In addition, there are two garage buildings totaling 30 garage stalls. Each unit consists of 1, 2 or 3 bedroom floor plan, kitchen, dining, spacious living area, and 1 or 2 bathrooms layout. Units are nicely equipped with range/oven, fridge/freezer, dishwasher, washer/dryer and wall AC unit. Additionally, most units offer large deck or patio.

More details: 
  • 29 Units - 30 Garage Stalls
  • Excess Land— Approved for 24 Additional Units and 17 Additional Garage Stalls
  • Great Location Near Parks & School
  • In Unit Laundry
  • Spacious Decks or Patio in Most  Units
Special Features: 
  • Well Maintained Newer Apartment Property
  • High Occupancy
  • Diverse Blend of Unit Options
  • Fully Engineered and Approved Plans for the 24-unit Phase 2
  • Excellent 1031 Exchange Opportunity
245 State Highway 55, Paynesville, MN 56362 | Approximately 90 miles west of the Twin Cities.
Land Area: 
3.2 Acres
Size of Building: 
32,604 Sq Ft
Built in 2015
# of Units: 
Primary heat source is natural gas boiler system.