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$ 620,000
$ 685,000 9.5%
Est. payment /mo
Sold on 05/28/2025
20 Grand AVE N Kensington, MN 56343
0.35 Acres Lot
UPDATED:
Key Details
Sold Price $620,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Original Kensington
MLS Listing ID 6689872
Year Built 1984
Annual Tax Amount $4,057
Tax Year 2025
Lot Size 0.350 Acres
Property Sub-Type Apartment
Property Description
Discover the Runestone Grand Apartments, a prime investment opportunity featuring a fully-rented 8-unit apartment building in Kensington, MN. This property comprises seven spacious 2-bedroom, 1-bath units (approx. 875 sq ft each) and one cozy 1-bedroom, 1-bath unit (approx. 550 sq ft). Most units have undergone extensive renovations, showcasing modern appliances, updated flooring, fresh paint, updated plumbing, and lighting. Tenants cover their own electricity and optional internet/cable, while the owner is responsible for water, sewer, trash, and snow removal. Fiber-optic internet is available to each unit. Efficient heating and cooling systems. Low-maintenance steel siding. Each unit features wall-mounted air conditioning and electric baseboard heating (metered separately to each unit). A shared coin-operated laundry facility and off-street parking are available to tenants. Currently generating a gross monthly income of $6,160. With a list price of $685,000, the projected cap rate for Runestone Grand is over 8%. This investment offers consistent cash flow in a desirable rental market. Don't miss your chance to own a well-maintained apartment complex in West Central MN!
Location
State MN
County Douglas
Zoning Residential-Multi-Family
Interior
Heating Baseboard
Cooling Wall Unit(s)
Exterior
Parking Features Assigned, Parking Lot
Utilities Available Electric Common, Electric Separate, Heating Separate, Hot Water Common
Roof Type Asphalt
Building
Story Two
Foundation 3500
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Steel Siding
Schools
School District West Central Area
Listed by Justin Habel • Counselor Realty Inc of Alex
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