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604 Knight St, Saint Peter, MN, 56082

Rock Ridge Apartments
$3,775,000

Key Information

Cap Rate
6.74%
GRM
8
Tot. SF
36,596
$ per unit
$104,861
Units
36
Year Built
2003
Type
Apartments
NOI
$254,418

Highlights

  • Turnkey asset with operational stability and potential for rental rate increases through continued interior improvements and market rent alignment.
  • Located in Saint Peter MN 20 minutes north of Mankato positioned next to the hospital.
  • Variety of unit mix’s and floor plans including some ADA compliant units.
  • Roof replacements completed in 2022 for Building 624 and associated garages.
  • Roof replacements completed in 2024 for Building 604 and associated garages.
  • Parking lot resealed in 2025, enhancing curb appeal and longevity.
  • New gazebo installed in 2025, adding a tenant amenity and improving communal outdoor space.
  • New laminate flooring installed in 10 units, contributing to interior quality and marketability.
  • Numerous appliance upgrades over the past five years, including air conditioning units, dishwashers, refrigerators, and laundry machines.

Photos

Location

Agents

Broker of Record

Kurt Sauer

License # 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416