151 Sunnyslope Road
- 88-unit multifamily community on 6.27 acres
- Current occupancy of 97.7%
- Existing corporate housing tenancy provides immediate in-place income
- Expanded occupancy driven by existing corporate lease relationship
- Projected 9.75% pro forma cap rate
- Offered at approximately $50,000 per unit
- Significant discount to estimated replacement cost
- Opportunity to continue corporate housing strategy or reposition over time
- Originally constructed in 1970 with substantial renovation completed in 2002
- Unit mix includes 1-bedroom, 2-bedroom, and 3-bedroom apartments
- Community building with fitness center and office
- Landlord-owned laundry facilities in each building
- Regional employment base supported by manufacturing, healthcare, education, agriculture, and government sectors
- Large-scale multifamily asset with limited direct market competition
Property Description
Nature’s Edge Apartments is an 88-unit multifamily community located in Morris, Minnesota, offering investors immediate scale and strong in-place cash flow through a combination of traditional apartment leasing and existing corporate housing occupancy. The property consists of five low-rise apartment buildings situated across 6.27 acres and includes a mix of one-, two-, and three-bedroom units. Originally constructed in 1970 and substantially renovated in 2002, the property provides a significant value-add opportunity at an attractive basis. The property is currently 97.7% occupied, driven in part by an expanded corporate housing agreement with an existing tenant relationship following a company acquisition. This existing occupancy structure provides immediate income stability while also presenting future operational flexibility for investors pursuing traditional multifamily leasing, workforce housing, or continued corporate housing strategies. Offered at approximately $50,000 per unit, Nature’s Edge presents a rare opportunity to acquire a large-scale apartment community at a substantial discount to replacement cost. The community includes landlord-owned laundry facilities in each building, a community building with fitness center and office and significant green space throughout the site.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $4,400,000 |
| No. of Units: | 88 |
| Year Built: | 1970 |
| Lot Size: | 6.27 Acres |
| Opportunity Zone: | No |
| Price per unit: | $50,000 |
| Property Website | Click Here |
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