Listed by Square Foot Commercial - Crary Real Estate
$795,000
Timberline Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 19,140
Units 18
Cap Rate 8.20%
NOI $65,220
Occupancy 100%
Tenancy Multi
Year Built 1983
Stories 3
Lot Size (SqFt) 26,371
Investment Type Stabilized
Multifamily | 18 Units | $44,167/unit
Marketing description
Square Foot Commercial Group presents the exclusive listing of Timberline Apartments — an 18-unit multifamily property in Warroad, MN. Offered at $805,000, this asset delivers stable cash flow in a supply-constrained market anchored by Marvin Windows & Doors, one of Minnesota's largest employers.
Warroad is a stable, employer-anchored community of 1,700 residents in Roseau County, MN on the southern shore of Lake of the Woods. The economy is anchored by Marvin Windows & Doors — one of the largest privately held US manufacturers — creating consistent demand for workforce housing. Recreational tourism provides seasonal supplementation.
Investment highlights
- ~$48,600 in 2025 capital improvements — appliances, flooring, unit turns completed
- RUBS implementation opportunity — owner-paid boiler heat creates immediate NOI upside
- Avg. HH income $79,307 within 1 mile supports rent stability and tenant quality
- Supply-constrained market — limited new multifamily competition in Warroad
- Property is 100% occupied as of July 2026 — all 18 units leased at current market rents
Listing Contacts
Listed by Square Foot Commercial - Crary Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$65,220.00
$5,435.00/mo
Valuation Metrics
0
DSCR
8.2%
Cap Rate
8.2%
ROI
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Property History
Tax History
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