Multi-family Development in Rush City, MN

70 Units

We acquired this property, completely renovated it, and refilled to full occupancy, during a 1.5 year period. All buildings received new roofs, the parking lot received all new asphalt. Unit renovation included new cabinets, appliances, lighting, vinyl plank flooring, and carpeting in all units, as well as new sheet rock in most units.

This property increased in value with healthy rental rates. The Studio units were priced at $1.70 per foot or $600 per month. The One Bedroom units were priced at $1.45 per foot or $800 per month. We exited the property with $1.25M in profit.