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537 Northern Hills Drive NE, Rochester, MN 55906

$3,000,000

Property Type: Commercial Lot Size (sq. ft.): 43,560 Status: Closed

Current Price: $3,000,000 List Date: 9/12/2025 Last Modified: 1/27/2026

Overview

Description

Rare opportunity to purchase an entire building with 32 individually titled condos! Has been operated long-term by the same owner as apartments, but the opportunity exists to sell condo units individually! Concrete construction provides a solid foundation to this building and excellent sound deadening between units! All units are 2 bedrooms with 800 sq ft and feature central heat/ac & laundry in unit!

Listing Details MLS# 6788174

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront Present: No
Year Built: 1978
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 8000
For Sale or Lease: For Sale
Acres: Yes
Lot Dimensions: irregular
Other Parking Spaces: 0
Garage Stalls: 0

Property Features

Accessible: None Air Conditioning: Central Air Amenities Unit: Washer/Dryer Hookup Appliances: Dishwasher; Dryer; Range; Refrigerator; Washer Assumable Loan: Not Assumable Basement: None CMU Style: Low Rise Construction Materials: Block; Concrete Construction Status: Previously Owned Current Use: Residential Exterior: Block; Stucco Flooring: Concrete Slab Foundation: Slab Fuel: Natural Gas Heating: Forced Air Loan Terms: Cash; Contract for Deed; Conventional Location Description: Free Standing Lock Box Type: None On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate Owner Pays: Exterior Maintenance; Insurance; Janitorial Service; Janitorial Service; Lawn; Lawn; Maintenance/Repair; Management; Repairs; Roof Maintenance; Sewer; Taxes; Trash Collection; Water Parking Characteristics: Paved Lot Rental License Type: Standard Roof: Flat; Rubber Sewer: City Sewer/Connected Stories: Three Or More Tenant Pays: Broadband; Cable TV; Electricity; Fuel; Gas; Heat; Hot Water; Telephone Wall Description: Concrete/Block Water: City Water/Connected

Contract Information

Off Market Date: 2025-11-18
Closed Date: 2025-10-31
Sales Close Price: 3000000
Contingency: None
ListPrice: 3500000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 537
Street Name: Northern Hills
Street Suffix: Drive
Street Direction Suffix: NE
Postal City: Rochester
County: Olmsted
State: MN
Zip Code: 55906
Complex/Dev/Subdivision: Northern Hills One-Torrens

Assessments

Tax With Assessments: 25408
Assessment Balance: 0

Building Information

Building Finished SqFt: 25600
Building SqFt: 25600

More Information

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 14
Section#: 25
Township#: 107

Sale Options

Sale Includes: Building, Leases, Rental License

Unit 1

Unit Number: Yes

Unit 2

No. of 2 Bedroom Units: 32

Unit Details

Total Units: 32

Office/Member Info

Association: SEMR

Location, Tax and Other Information

Legal Description: SECT-25 TWP-107 RANGE-014 NORTHERN HILLS ONE-TORRENS UNIT 8 NORTHERN HILLS 1 & AN UNDIVIDED 3.125 0/0 INT IN COMMON ELEMENTS OF NORTHERN HILLS 1 ALL ON LOT 17 BLK 2 NORTHERN HILLS 1ST - TORRENS
Listing City: Rochester
Map Page: 999
Municipality: Rochester
School District: Rochester
School District Phone: 507-328-3000
Zip Plus 4: 3315
Property ID Number: 742521016862
Tax Year: 2025
Tax Amount: 25408
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Rare opportunity to purchase an entire building with 32 individually titled condos! Has been operated long-term by the same owner as apartments, but the opportunity exists to sell condo units individually! Concrete construction provides a solid foundation to this building and excellent sound deadening between units! All units are 2 bedrooms with 800 sq ft and feature central heat/ac & laundry in unit!
Directions: From Broadway Ave N, turn east on Northern Hills Dr NE, property on left

Accessible

None: Yes

Air Conditioning

Central Air: Yes

Amenities Unit

Washer/Dryer Hookup: Yes

Appliances

Dishwasher: Yes
Dryer: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Assumable Loan

Not Assumable: Yes

Basement

None: Yes

Construction Materials

Block: Yes
Concrete: Yes

Construction Status

Previously Owned: Yes

Exterior

Block: Yes
Stucco: Yes

Flooring

Concrete Slab: Yes

Foundation

Slab: Yes

Fuel

Natural Gas: Yes

Heating

Forced Air: Yes

Lock Box Type

None: Yes

Owner Pays

Exterior Maintenance: Yes
Insurance: Yes
Janitorial Service: Yes
Lawn: Yes
Maintenance/Repair: Yes
Management: Yes
Repairs: Yes
Roof Maintenance: Yes
Sewer: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Parking Characteristics

Paved Lot: Yes

Rental License Type

Standard: Yes

Roof

Flat: Yes
Rubber: Yes

Sewer

City Sewer/Connected: Yes

Stories

Three Or More: Yes

Wall Description

Concrete/Block: Yes

Water

City Water/Connected: Yes

No. of Ranges

One Per Unit: Yes

No. of Refrigerators

One Per Unit: Yes

Tenant Pays

Broadband: Yes
Cable TV: Yes
Electricity: Yes
Fuel: Yes
Gas: Yes
Heat: Yes
Hot Water: Yes
Telephone: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: Yes
Hot Water Separate: Yes

CMU Style

Low Rise: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Contract for Deed: Yes
Conventional: Yes

Location Description

Free Standing: Yes

Listing Office: Infinity Real Estate

Last Updated: January - 27 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.