Mount Royal Manor Offering Memorandum
Mount Royal Manor is a 114 unit apartment community located in the Chester Park neighborhood of Duluth, Minnesota. The seven-story building gives tenants picturesque and unparalleled views of the University, downtown Canal Park, and Lake Superior, creating a true North Shore experience for residents.
Mount Royal Manor is a 114 unit apartment community located in the Chester Park neighborhood of Duluth, Minnesota. The seven-story building gives tenants picturesque and unparalleled views of the University, downtown Canal Park, and Lake Superior, creating a true North Shore experience for residents.
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COMPETITIVE PROPERTY SET<br />
<strong>Mount</strong> <strong>Royal</strong> <strong>Manor</strong><br />
Rent Comparables - Current<br />
5 LES CHATEAUX 3800 London Road, Duluth, MN 55804<br />
No. of Units: 141<br />
Year Built: 1969<br />
Occupancy: 95%<br />
NOTES:<br />
The landlord is responsible for water, sewer, trash, heat<br />
and gas. The tenant is responsible for electric. The<br />
property offers underground garage parking for $60 per<br />
month.<br />
Unit Type Units SF Rent Rent/SF<br />
Studio 1 Bath 1 525 $830 $1.58<br />
1 Bdr 1 Bath 59 810 $999-$1,065 $1.27<br />
2 Bdr 1 Bath 28 1,100 $1,310-$1,680 $1.36<br />
2 Bdr 1.5 Bath 38 1,191 $1,328-$1,842 $1.33<br />
3 Bdr 1.5 Bath 15 1,200-1,875 $1,767-$2,355 $1.47<br />
Total/Avg. 141 1,185 $1,624 $1.37<br />
6 BAYPOINT SHORELINE & ESTATES 1900 Saint Louis Ave, Duluth, MN, 55802<br />
No. of Units: 141<br />
Year Built: 1980<br />
Occupancy: 98%<br />
NOTES:<br />
The landlord is responsible for water, sewer, gas, heat<br />
and garbage. The tenant is responsible for electric. The<br />
property offers heated underground parking for $75 per<br />
month.<br />
Unit Type Units SF Rent Rent/SF<br />
1 Bdr 1 Bath 49 780-823 $900-$1,100 $1.29<br />
2 Bdr 2 Bath 92 900-977 $1,095-$1,300 $1.28<br />
Total/Avg. 141 888 $1,143 $1.29<br />
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are<br />
approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future<br />
performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap ACT ID Y0510304<br />
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