109 Luverne StLuverne, MN 56156
- Apartment buildings
- 25,000 SF
Property Details for 109 Luverne St
- Year built
- 1925
- Lot size
- 2.22 AC
- Property size (Sq ft)
- 25,000 SF
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity presents 15 units within the City Centre Condo building in Luverne, Minnesota. Located at 109 E Luverne St, Units 329-336, this property offers a compelling 9.00% cap rate and a strong net operating income (NOI) of $41,310. The asking price is $459,000, translating to $18.36 per square foot and $30,600 per unit. The building, constructed in 1925, comprises a single, one-story structure situated on a 2.218-acre lot. The total square footage is 25,000, encompassing a mix of 1.5 and 2-bedroom units. Residents enjoy access to a full-size gymnasium, a community room, shared coin laundry facilities, and an elevator. The property's prime location offers proximity to local amenities, including restaurants, shops, businesses, Luverne City Park, and the Rock River. This well-maintained building presents a rare opportunity to acquire a profitable multifamily asset in a desirable location. The building's history as a beautifully renovated historic school building adds unique character and appeal.
Location Insight
- City
- Luverne
- County
- Rock
- State
- Minnesota
- Latitude
- 43.6568
- Longitude
- -96.2086
Comparable in this City
Similar Nearby for Sale
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].