Jacob's Square

Investment Overview

Jacob's Square Apartments is a 16-unit multifamily community located in west St. Cloud, Minnesota. Built in 1986, the three-story building consists of approximately 20,240 square feet on a one-acre site and features a desirable unit mix weighted toward larger two- and three-bedroom apartments averaging approximately 931 square feet. Residents benefit from secure controlled access, detached garage parking, fiber internet, individually metered electric service, and generous on-site parking. The property has benefited from several recent capital improvements, including new common area carpet, LED lighting upgrades, and the water heater replaced in 2012, while also offering opportunities for future value creation. Additional income potential exists through unrented storage units, expanded in-unit laundry, and enhanced outdoor amenities.

Investment Highlights

• 16-unit apartment community built in 1986
• Spacious floor plans averaging approximately 931 SF
• Strong mix of two- and three-bedroom apartments
• Architecturally distinctive stucco, brick, and wood exterior
• Secure controlled-entry building with intercom system
• Fire alarm monitoring and exterior security camera system
• Individually metered electric with master gas service
• Fiber internet included for residents
• 22 surface parking spaces and 10 detached garage stalls, providing approximately a 2:1 parking ratio
• Three common laundry areas with card-operated equipment
• Common area carpet replaced in 2025
• LED lighting upgrades in common areas and parking lot
• Large in-unit storage and some apartments with in-unit laundry
• Opportunity to lease six existing storage closets for additional income
• Potential to add additional in-unit laundry and outdoor patio/grilling amenities
• Opportunity to continue strategic capital improvements and enhance long-term value