For Sale: Austin MLS# 6761736
Active
$275,000
Commercial: Apartments
Built 1910
0.21 acres
Austin schools
MLS# 6761736
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Property Description
Five unit apartment building centrally located with ease of access to downtown businesses, schools, parks, pool, trails, and lake. The building offers secure entry doors, new 40-Year roof, new fire alarm system, new boiler, newer water heaters, new electrical service, and many updates to plumbing. The main floor has a very spacious two-bedroom apartment and a laundry room with coin-op machines. The second floor has a one-bedroom apartment, and an efficiency apartment. The third floor has a one-bedroom apartment. The basement has a two-bedroom apartment. Apartments 2, 3, 4 and 5 are on month-to-month leases. Apartment 1 has a new tenant. Apartment 2 has been there since Nov. 2024. Apartment 3 has been there since Feb. 2023. Apartment 4 has been there since Feb. 2024. Apartment 5 has been there since Feb. 2025. The building offers spacious off-street parking for tenants. The pictures are of the apartments prior to tenant move in, but all units are occupied.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$275,000
Property Type:
Commercial
City:
Austin
Garage Spaces:
0
County:
Mower
Year Built:
1910
State:
MN
Property Style:
Apartments
Zip Code:
55912
Subdivision Name:
F R Smith Add
Interior
Ranges:
Five
Refrigerators:
Five
Appliances Included:
- Range
- Refrigerator
Basement Details:
Finished
Exterior
Stories:
Three Or More
Garage Spaces:
0
Other Parking Spaces:
6
Air Conditioning:
None
Foundation Size:
960 ft2
Foundation Dimensions:
24 x 40
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Boiler
Parking Features:
Parking Lot
Shared Amenities:
Coin-op Laundry Owned
Unit Amenities:
Hardwood Floors
Road Frontage:
- City Street
- Paved Streets
- Sidewalks
Exterior Material:
Slate
Roof Details:
- Age 8 Years or Less
- Asphalt
Lot & Land
Acres:
0.21
Geolocation:
43.674466, -92.978899
Inclusions:
Building, Land
Lot Dimensions:
100 x
Zoning:
Residential-Multi-Family
Schools
School District:
492
District Phone:
507-460-1900
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
None
Annual Maintenance Expense:
None
Annual Gross Expense:
$12,761
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$2,214
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$2,214
Income
Annual Gross Income:
$36,084
Rent
Annual Net Income:
$23,323
Units
Total Units:
5
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Aleres, LLC.
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.