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20 Grand Avenue N, Kensington, MN 56343
sale
$685,000
|
Other
Courtesy Of Counselor Realty Inc of Alexandria
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!
Copyright © 2025 Regional Multiple Listing Service of Minnesota [NorthStarMLS]. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Property Features
- Age: 41-50 Years Old
- Architecture Style: Other
- Cooling System: Wall Unit(s)
- Exterior Type: Frame
- Heating System: Baseboard
- Legal Description: SEC-27 TWP-127 RANG-40 ORIGINAL KENSINGTON LOTS 3 & 4 BLK 1; & W 12' VACATED ALLEY ABUTTING.
- MLSID: 6689872
- Roof Type: Asphalt
- Roof Type: Shingle
- Rooms: Bedroom 5
- Rooms: Bedroom 4
- Rooms: Bedroom 3
- Rooms: Bedroom 2
- Rooms: Bedroom 1
Directions to This Property
20 Grand Avenue N, Kensington, MN 56343
Demographic Data for 20 Grand Avenue N, Kensington, MN 56343
Average Age
47
Married
66%
Number of Homes
409
Homes with Children
19.96%
Occupation Type
Transportation to Work
Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
