8979 County Road 5North Branch, MN 55056

Property Details for 8979 County Road 5

Year built

1965

Lot size

3.00 AC

Property type

Apartment buildings

Description

This stabilized multifamily investment property, a charming two-story triplex, presents a compelling opportunity in North Branch, Minnesota. Located at 8979 County Rd 5, 55056, this 1965-built property underwent renovations in 2000 and sits on a spacious 3-acre lot. The building comprises three units, each currently generating strong rental income, contributing to a current Net Operating Income (NOI) of $24,083, representing an 8.03% capitalization rate. Pro forma projections indicate a potential NOI of $28,000, boosting the capitalization rate to a promising 9.33%. The asking price is $300,000, translating to $100,000 per unit. This represents a strong value proposition for investors seeking a stable, cash-flowing asset with potential for future appreciation. The property's location in Isanti County within the desirable North Branch community ensures consistent tenant demand. The existing units are well-maintained and offer modern amenities, attracting high-quality tenants. The substantial lot size offers potential for future expansion or value-add improvements, further enhancing the property's long-term investment potential. This triplex is ideal for both seasoned investors seeking a solid addition to their portfolio and those new to real estate investment looking for a stable and profitable venture. The property's strong historical performance and upside potential make it a truly attractive investment opportunity.

Location Insight

City

North Branch

County

Isanti

State

Minnesota

Latitude

45.5013

Longitude

-93.0433

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