Edjwood Estates

Saint Cloud, Minnesota
Multifamily
1976
Vintage
SF
113
Units
Acres
Share Property
Share Property
Access deal room
About the property

Multifamily property for sale in St. Cloud, MN. The asset was built in phases between 1976-1985, and ownership has spent over $1,000,000 in capital improvements to the property over the last 10 years. The property is currently 100% occupied and presents a high-upside value-add potential as there is a 35% gap between current rents and market rents. New leases are being signed for 15% higher than previous rents even without any major renovations. Pricing guidance is $75K/unit, which is an in-place 4.9% cap and projects to stabilize just under a 10% cap in year 3 of the business plan.

Property Information
Units:
113
Year Built:
1976
Square Feed:
Occupancy:
100%
Year Renovation:
Acres:
Investment Highlights
  • Ownership has spent over $1,000,000 in capital improvements to the property over the last 10 years.
  • The property is currently 100% occupied and presents a high-upside value-add potential as there is a 35% gap between current rents and market rents.
  • New leases are being signed for 15% higher than previous rents even without any major renovations.
Contact the Team
Samuel R. Finkler
Vice President, Investment Sales
View profile
Audley Clarke
Senior Associate, Investment Sales
View profile
Exclusive Listings
See All listings
Monetize CRE investments
Tell us about your property and our skilled advisors will connect with you for a complementary valuation.
Get a Property Valuation