Property Details
Price:
Property Type Multifamily
Total Lot Size: 2.13
Number of Units: 90
County: Stearns
Description
Michel Commercial is pleased to present Covington
Place Apartments, a 90-unit apartment community
situated across four buildings at 510, 600 & 605 8th
Ave N in Saint Cloud, Minnesota. Built in 1987, the
community offers a full mix of one-, one-bedroom
plus den, two-, and three-bedroom apartment
homes ranging from 725 to 1,200+ square feet, each
featuring walk-in closets and patios/balconies in
select units. Rent includes water, sewer, trash, and
heat paid by ownership, positioning Covington Place
among the most attainable and highest-demand
rental options in the St. Cloud market.
Location
Covington Place is ideally positioned in central Saint
Cloud, just 0.8 miles (a 16-minute walk) from St. Cloud
Hospital/CentraCare — the region’s largest employer and approximately 2 miles from St. Cloud State University.
The property also sits within walking distance of multiple
shopping centers and minutes from downtown Saint
Cloud, Munsinger & Clemens Gardens, and the St. Cloud
Area Family YMCA, giving residents exceptional access to
employment, education, and daily conveniences.
Highlights
Strong Performance & Rent Growth Opportunity
Covington Place has maintained strong historical and current occupancy (100%), demonstrating consistent renter demand and providing the next owner an opportunity to continue growing rents. With limited new apartment construction planned in St. Cloud, the property is well positioned to benefit from a constrained supply environment.
Consistent Capital Investment
Ownership has continued to invest in Covington Place, including documented exterior improvements to the property’s garage structures. Apartment homes also feature refreshed, modern interiors with contemporary cabinetry, appliances, flooring and finishes.
