Andover Park Apartments

Discover Rochester, MN, home to the world renowned Mayo Clinic voted the No.1 hospital in Newsweek’s list of the World’s Best Hospitals for the sixth straight year! Rochester is a vibrant city known for its rich cultural scene, thriving economy, and strong sense of community. Enjoy the convenience of nearby shopping and dining options, including the renowned culinary offerings of downtown Rochester. With its picturesque parks and diverse entertainment options, this area offers a desirable living experience for residents of Andover Park Apartments. Nestled within close proximity to the property, residents can easily explore popular attractions such as the Rochester Art Center, the Douglas State Trail, and the historic Mayowood Mansion. Rochester is approximately 90 miles SE from the Minneapolis Central Business District with a 2024 estimated population of 122,413, the Rochester metro area’s population was estimated to be 749,000 in 2023.Results Commercial is pleased to present For Sale an 80 Unit Multifamily Investment Opportunity in the heart of highly desirable Rochester, MN. This offering features 10 buildings, totaling 80 units with 76 actively online. The properties are stable, but still offer value add potential with below market rental rates and the ability to build another 4-5 buildings (with necessary approvals). The properties are enrolled in the 4(d) affordable housing program. Current ownership remodeled most all of the units since their acquisition in 2016. Built in 1979 with 93,600 square feet, 2 adjacent parcels on 5.45 acres offering an ideal blend of space and comfort for residents. The portfolio totals 80 units, comprised of 75 units with 3 beds and 2 baths and 5 units have 2 beds and 2 baths. Each unit is spacious with 1,100 finished SF. Plenty of parking for the buildings with over 160 spaces. All buildings are similar with solid construction and quality finishes throughout. Zoning is R3 Medium Density Residential (see zoning page). Contact the Listing Brokers, Mark Hulsey and Hayden Hulsey, CCIM for the rent rolls/expenses and tours.