NOT LISTED FOR SALE

120 Knollcrest Dr Mankato, MN 56001

Franklin Rogers Park Neighborhood
56 Beds
28 Baths
21,888 Sq Ft
1.12 Acres

Last Sold October 05, 2023

Last sale price $2,250,000 $103 Per Sq Ft

11 Days on Market

Highlights

  • 1.12 Acre Lot
  • 8 Car Detached Garage
  • Coin Laundry
  • Washington Elementary School Rated 9+
  • Patio

About This Home

As of October 2023

Knollcrest Apartments are for sale in the great community of Mankato MN. The 28 unit property consists of 2 apartment buildings, 8 garage stalls and a maintenance garage. All units consist of 2 bedrooms and 1 bathroom. Additionally the lowest level of each building offers individual storage lockers, as well as coin laundry rooms. These units have a lot of upside potential with some light updating and common area improvements. Current rents range from $780-$845/month with an additional $35/month for each of the 8 garage spaces. Total current scheduled rents are $267,780 annually and the coin laundry brought another $4,680 in 2022. Once the rest of the leases are updated with the current rent rates, the gross annual income including laundry could be $291,960.

Last Agent to Sell the Property

Trent VanOrt

CENTURY 21 ATWOOD Listed on: 07/07/2023

CENTURY 21 ATWOOD

Last Buyer's Agent

Carlos Carrera

RE/MAX DYNAMIC AGENTS

RE/MAX DYNAMIC AGENTS

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $18,898

Year Built

  • Built in 1951

Lot Details

  • 1.12 Acre Lot
  • Lot Dimensions are 180x275
  • Irregular Lot

Parking

  • 8 Car Detached Garage
  • Driveway
  • On-Street Parking
  • Off-Street Parking

Home Design

  • Flat Roof Shape
  • Brick Exterior Construction
  • Concrete Block And Stucco Construction

Interior Spaces

  • 21,888 Sq Ft Home
  • 3-Story Property
  • Fire Sprinkler System

Bedrooms and Bathrooms

  • 56 Bedrooms
  • 28 Bathrooms

Partially Finished Basement

  • Basement Fills Entire Space Under The House
  • Block Basement Construction

Outdoor Features

  • Patio

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Boiler Heating System
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for electric
  • The owner pays for fuel, janitorial, lawn, maint/repair, snow, trash, water/sewer
  • Month-to-Month Lease Term
  • Assessor Parcel Number R01-09-08-353-002

Community Details

Overview

  • 28 Units
  • Property is near a ravine

Additional Features

  • Coin Laundry
  • Gross Income $272,840

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$18,898

Year Built

Built in 1951

Lot Details

0

Parking

8

Listing Details

  • Type: Multi-Family
  • Class: MULTI-FAMILY
  • Classification: NonHomestead
  • Style: Apartment Building (L)
  • Construction: Previously Owned
  • L V T Date: 07/10/2023
  • Mechanicals: Water Heater - Gas
  • Parcel Number: R01-09-08-353-002
  • Rental License: Yes
  • Stories: 3 Story
  • Street Designation: Drive
  • Estimated Number of Acres: 1.12
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bedrooms: 56
  • Total Bathrooms: 28
  • Basement Features: Partially Finished
  • Basement Material: Concrete Block
  • Basement Style: Full
  • Finished Above Grade Sq Ft: 21888
  • Total Square Footage: 29184
  • Below Grade Finished Sq Ft: 3000

Exterior Features

  • Frontage Road: Curb/Gutters, City, Sidewalk
  • Construction Type: Concrete Block
  • Exterior: Brick
  • Roof: Flat
  • Exterior Amenities: Driveway - Asphalt, Patio

Garage/Parking

  • Garage Type: Detached
  • Number Garage Spaces: 8
  • Number Off Street Parking: 24

Utilities

  • Fuel: Natural Gas
  • Heat: Boiler
  • Sewer: City
  • Water: City

Condo/Co-op/Association

  • Shared: Coin-op Laundry Owned, Fire Sprinkler System, Patio

Lot Info

  • Lot/Land Description: Irregular Lot, Ravine
  • Estimated Lot Dimensions: 180x275

Rental Info

  • Owner Expense: Fuel, Janitorial, Lawn, Maint/Repair, Snow, Trash, Water/Sewer
  • Tenant Expense: Electric
  • Type of Tenancy: One Year Lease, Month to Month

Building Info

  • Year Built: 1951

Multi Family

  • Est Annual Gross Income: 272840

Tax Info

  • Year: 2023
  • Tax Value: 18898

MLS Schools

  • School District: Mankato #77

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/05/2023 10/05/23 Sold $2,250,000 +7.7% $103 / Sq Ft
07/18/2023 07/18/23 Pending -- -- --
07/07/2023 07/07/23 For Sale $2,090,000 -- $95 / Sq Ft
Source: REALTOR® Association of Southern Minnesota

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Trent VanOrt

    Seller's Agent in 2023

    Trent VanOrt

    CENTURY 21 ATWOOD

    (320) 221-2245

    2 in this area

    69 Total Sales

    Trent VanOrt
    Section Image
  • Carlos Carrera

    Buyer's Agent in 2023

    Carlos Carrera

    RE/MAX

    (507) 720-4663

    2 in this area

    51 Total Sales

    Carlos Carrera
    Section Image
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Map

Source: REALTOR® Association of Southern Minnesota

MLS Number: 7032806

REALTOR® Association of Southern Minnesota
Minnesota Blue Earth County Mankato 56001 Franklin Rogers Park

120 Knollcrest Dr, Mankato, MN

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

REALTOR® Association of Southern Minnesota IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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