Renville Apartments 419 and 427 Bryant Avenue NW Renville ......14 - 2 bedroom apartments and 2 –...

For more information, please contact:

Joe Smith | 952-475-5122 | [email protected] or visit our website at: Peter Kordonowy | 952-475-5135 | [email protected]

www.summerhillcommercial.com

Renville Apartments

419 and 427 Bryant Avenue NW

Renville, MN 56284

Investment Offering




Offering Price/Price per Unit: $950,000/$59,375 per unit.

Building Size/Year Built: Approximately 3,840 square feet per floor, 7,680 square feet per building. Built in 1977.

Construction Type: 16 total units. 8 units per building.

Siding, stone accents and mansard roof.

14 - 2 bedroom apartments and 2 – 1 bedroom apartments.

Terms: Cash or new financing.

Financial Summary: Current NOI of $66,607/7.0% cap rate, potential NOI of $70,136/7.4% cap rate.

Note: Factored expenses include $9,600 annual caretaker/management fee.

Renville Apartments General Information:

• Located in the great small town of Renville, MN named after Joseph Renville.

• Renville, MN is approximately 2 hours west of Minnetonka, MN off Highway 212.

• The town of Renville is located close to the MN River Valley. It is largely an agribusiness based community of 1,259 people.

• Renville serves as an agricultural service and distribution center for the surrounding area with rail serving the area.

• The City boasts the world’s largest sugar beet processing plant.

• The buildings have been very well maintained by the owner and have many updates in the apartments such as newer

bathrooms, cabinets and carpet.

Investment Offering For Sale

Renville Apartments


Renville, MN 56284




Renville Apartments


Renville, MN 56284

Property Photos




Renville Apartments


Renville, MN 56284

Property Maps




Renville Apartments


Renville, MN 56284

Investment Offering

Limiting Conditions

Limiting Conditions

This Investment Offering package (“Package”) has been prepared by

Summerhill Commercial Real Estate, LLC (“Summerhill”) for information

purposes only and does not claim to have all the information necessary

to reach a decision to purchase or not. The information in this Package

has been carefully assembled from sources considered reliable and while

it is not guaranteed in completeness and accuracy, Summerhill believes

it to be correct as of this date.

This Package is subject to prior placement, errors, omissions, changes or

withdrawal without notice and does not constitute a recommendation,

endorsement, or advice as to the value of the property. Each prospective

buyer should rely on it his or her own due diligence, investigation,

evaluation, and judgments as to the advisability of purchasing the

property described in this Package.

Any proforma income and expenses contained in this Package do not

constitute a representation, warranty, or a guaranty of any of the numbers

contained in this Package or of any economic value attributable to the

property or income that may be deduced as a result. Prospective buyers

should develop their own independent estimates of proforma income

and expenses before making any decisions on whether to purchase the

property.

This package is the property of Summerhill and may be used only by

parties to whom Summerhill has delivered the Package or to whom

Summerhill has approved delivery of the Package to. By accepting a

copy of this Package, the party who has possession thereof agrees to

return it to Summerhill immediately upon request and to not duplicate or

forward it to any other parties without written authorization.

No representations are made as to changes in the status of the property

subsequent to the date of this Package.

No copies of this Package may be made without Summerhill’s prior written

consent and no excerpts or summaries thereof may be distributed,

reproduced, or included in any documentation without such consent.

Thank you for this accommodation and for your time in considering the

purchase of the property. We also thank you in advance for not discussing

aspects of the Property with any of the Tenants. All visits to the Property

will need to be coordinated through Summerhill.




Renville Apartments


Renville, MN 56284

Investment Offering

Executive Summary

Executive Summary

Summerhill Commercial Real Estate, LLC, as exclusive agent for the owner, is pleased to offer this quality apartment building for sale.

The property is located in Renville, MN. The City of Renville is located 100 miles west of the Twin Cities on US Highway 212 and is situated near the Minnesota River Valley in a fertile agricultural area known for high productivity. Renville’s economy, past and present, is based largely on agribusiness. Renville serves as an agricultural service and distribution center for the surrounding area and boasts the world’s largest sugar beet processing plant as well as other thriving industrial operations. Renville offers affordable housing opportunities and employment opportunities. a quiet and hardworking city approximately 2 hours west of the Twin Cities just off Highway 212. The main employers are agriculture and agribusiness related.

The City has three beautiful parks, a swimming pool, tennis court, outdoor ice skating, several churches, a community center that offers a ballroom, a library, and a wonderful senior living community run by St. Francis Health Services.

Renville boasts a quality workforce and offers many employment opportunities including KM Manufacturing, Renville Health Services, Larkin Tree and Landscaping, H&L Motors, and Southern Minnesota Sugar Beet Coop to name a few. The community takes pride in its streets, well maintained parks and welcomes commercial, industrial, and residential development.

The population of Renville is approximately 1,259 and is located in Renville County; population 14,660. Renville County West School is part of School District 2890. It serves over 530 children K-12. Nickname is the Jaguars.

The City and County of Renville were named for Joseph Renville. The City of Renville was platted in 1878, when the railroad reached the area. It was incorporated in 1906 and has grown from a population of 250 in 1900 to 1,259 residents today.

Renville Apartments is 2 building complex with eight units in each building. It was built in 1977 and is in excellent condition. Each building consists of 7 two bedroom apartments, 1 one bedroom apartments, each with a laundry room. The property has recent improvements to most units and is located in a quiet neighborhood. The units offer spacious and attractive accommodations to the tenants. The sale shall be on an “as is-where is” basis for cash. The tenants are unaware the properties are being marketed for sale. Thank you in advance you’re your cooperation in not disturbing the tenants. If you have any questions, or would like to schedule a tour, please call Joe Smith at 952-475-5122 or email him at [email protected] or Peter Kordonowy at 952-475-5135 or e-mail him at [email protected].

mailto:[email protected]




Renville Apartments


Renville, MN 56284

Investment Offering

Property Description

Property Description

Summerhill Commercial Real Estate, LLC, as the exclusive agent of the owner

is pleased to offer Renville Apartments for sale. Following is additional

information on the property:

Property Address: 419 and 427 Bryant Avenue NW, Renville,

Minnesota, 56284

Offering Price: $1,095,000

Price per Unit: $68,438 per unit

Building Size: Approximately 7,680 square feet total per building Approximately 3,840 sf each floor per building

Year of Construction: 1977

Property Information: Two (2) eight (8) unit buildings. The exterior has

siding, stone accents and a mansard roof. Each

building consists of seven spacious (2) bedroom

apartments, one (1) bedroom apartment with

shared laundry room.

PID Number: 36-04915-00

Tax Information: $8,440 annual real estate tax.

Terms: Cash or new financing.

Financial Summary: NOI of $66,607/6.1% cap rate,

Property Highlights: - Quiet, stable, small town of Renville, MN - Agriculture, agri-business and manufacturing

are primary industries.

- Tightly knit community about 2 hours west of the

Twin Cities.

- Community Center houses a ballroom, City Hall

and public library

- Several local parks.

- Very well-maintained property with updated

units and updated landscaping. Parking lot

with sixteen (16) spaces.

- Attractive curb appeal.

- Owned coin-op laundry facilities.

- Cable and satellite available to tenants.




Renville Apartments


Renville, MN 56284

Investment Offering

Projected Operating Statement 2018

Projected Operating Statement 2018

INCOME RENT

419 - Unit #11 $550

419 - Unit #12 $550

419 - Unit #13 $550

419 - Unit #14 $475

419 - Unit #21 $550

419 - Unit #22 $550

419 - Unit #23 $550

419 - Unit #24 $550

427 - Unit #11 $550

427 - Unit #12 $550

427 - Unit #13 $550

427 - Unit #14 $475

427 - Unit #21 $550

427 - Unit #22 $550

427 - Unit #23 $550

424 - Unit #24 $550

Laundry Revenue $300

Total Gross Rental Income per Month $8,950

Total Gross Rental Income Annually $107,400

ESTIMATED OPERATING EXPENSES

2018 Real Estate Taxes: ($8,440) 21%

Insurance: ($7,344) 18%

Vacancy rate ($3,529) 9%

Caretaker/Management: ($9,600) 24%

Water/Sewer: ($750) 2%

Common Electrical ($750) 2%

Repairs/Maintenance/Yard ($10,380) 25%

Total Estimated Operating Expenses: ($40,793)

NET OPERATING INCOME (NOI): $66,607

PURCHASE PRICE: $950,000

CAP RATE: 7.0%




Renville Apartments


Renville, MN 56284

Investment Offering

Property Tax Information

Property Tax Information

Property ID Number: 36-04915-00

2018 Tax Value: $260,300 Property Assessed Value

2018 Property Taxes: $8,440




Renville Apartments


Renville, MN 56284

Investment Offering

Table of Contents

Table of Contents

One Property Information Brochure

Two Property Photos

Three City of Renville Photos

Four City of Renville Maps

Five Limiting Conditions

Six Executive Summary

Seven Property Description

Eight Projected Operating Statement 2018

Nine Property Tax Information

Renville Apartments 419 and 427 Bryant Avenue NW Renville ......14 - 2 bedroom apartments and 2 –...

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