Fergus Falls Apartments - Historic Charm With Complete Restoration

Highlights:

• 2 Buildings Totaling 32,736 SF
• Steel Frame Construction
• 31 Units Built in 1920
• Renovated Down To Bare Walls In 2017
• New Wiring
• New Plumbing
• Newly Tuck-Pointed Brick
• New HVAC
• New Roof
• Designed by Renowned Architect Clarence H. Johnston

Description:

Discover a timeless investment opportunity at 1447 and 1628 Patterson Loop, Fergus Falls, MN. This historic property consists of two buildings, offering a total of 31 meticulously designed units. Originally constructed in 1920 and beautifully restored in 2017 through the Historic Tax Credit program, the buildings showcase a perfect blend of classic charm and modern convenience. This complete restoration, down to the bare walls, includes new wiring, plumbing, tuck-pointed brick, HVAC, sprinklers, kitchen, bath, and flooring. The steel frame construction adds to the property's durability, making it a rare find in today's market. Designed by renowned architect Clarence H. Johnston, this property offers a rare opportunity for the astute multifamily investor to own a piece of history while enjoying the rewards of a fully modernized investment.

Discover an exceptional opportunity to invest in the thriving community of Fergus Falls, MN, the county seat of Otter Tail County. The area is enriched with natural beauty, boasting over 1,000 lakes in Otter Tail County alone, providing a picturesque backdrop for residents. Fergus Falls offers a diverse economy with major employers in healthcare, manufacturing, and education, contributing to a robust job market and steady job growth. The region's appeal is further enhanced by cultural attractions and a strong sense of community, making it an enticing prospect for investors seeking to capitalize on the area's growing popularity and economic vitality.