For Sale: Luverne MLS# 6383581
Active
$399,000
Commercial: Apartment,Low Rise
Built 1925
2.22 acres
Luverne schools
MLS# 6383581
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Property Description
This is a great investment opportunity to own in the City Centre Apartments complex in the heart of Luverne! Includes 7 units on the first floor of the building. This original school building has been renovated into a unique residential space complete with a full court basketball court! Well-kept and clean building with spacious outdoor yard space, community room for hosting events and gatherings, shared coin laundry room and elevator access to upper level floors. Compromised of a variation of 1, 2 & 3-bedroom units that are currently leased. Convenient location close to many restaurants, shops & businesses, Luverne City Park and the Rock River.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$399,000
Property Type:
Commercial
City:
Luverne
Garage Spaces:
0
County:
Rock
Year Built:
1925
State:
MN
Property Style:
Apartment, Low Rise
Zip Code:
56156
Subdivision Name:
City Center Condo Inc Cic #13
Interior
Appliances Included:
- Dishwasher
- Range
- Refrigerator
- Stainless Steel Appliances
Exterior
Stories:
Three Or More
Garage Spaces:
0
Other Parking Spaces:
0
Air Conditioning:
Central Air
Foundation Size:
25,000 ft2
Handicap Accessible:
Accessible Elevator Installed, Hallways 42"+, Wheelchair Ramp(s)
Heating System:
Baseboard
Parking Features:
- Parking Lot
- Paved
Shared Amenities:
- Coin-op Laundry Owned
- Concrete Floors & Walls
- Elevator(s)
- Fire Sprinkler System
- In-Ground Sprinkler System
- Other
- Security
Unit Amenities:
- Ceiling Fan(s)
- Indoor Sprinklers
- Main Floor Primary Bedroom
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Sidewalks
- Street Lights
Exterior Material:
Brick/Stone
Roof Details:
- Flat
- Rubber
- Tar/Gravel
Rooms
Shared Rooms:
Other
Lot & Land
Acres:
2.22
Geolocation:
43.656746, -96.208628
Inclusions:
Building, Leases
Lot Dimensions:
339 x 284 x 339 x 284
Zoning:
Residential-Multi-Family
Schools
School District:
2184
District Phone:
507-283-8088
Expenses
Annual Gross Expense:
$27,104
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2022
Annual Taxes:
$2,400
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$2,400
Income
Annual Gross Income:
$62,700
Rent
Annual Net Income:
$35,596
Units
Total Units:
7
Miscellaneous
Current Use:
Residential
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of RE/MAX Advantage Plus.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.