224 Main ST E, Norwood Young America, MN 55397 - MLS#6699747

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Nick Leavy

nick@ermetro.com +1(612) 236-5331

$875,000

Est. payment - /mo

6,098 Sqft Lot

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UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision City Lts Of Young America

MLS Listing ID 6699747

Year Built 1911

Annual Tax Amount $8,768

Tax Year 2025

Contingent None

Lot Size 6,098 Sqft

Acres 0.14

Property Sub-Type Apartment

Property Description

This property was built in 1911 with many recent improvements including a new roof in 2019 & all 6 units renovated in the last 3 years. One building features 6 two-bedroom apartments with the other building featuring one retail property, currently the laundromat is owned by the Landlord. The two-parcel offering includes ample Class IV gravel off-street parking in the rear of each respective building. Each unit is separately metered for gas and electric, making expenses relatively low for this investment. The residential building has new boilers (2025). The property has a strong rental history and is 100% occupied.
The landlord has successfully renovated all units along with rent increases per year of 7%-10% since purchasing the building in 2020, making this acquisition a solid-performing asset in a growing community with little to no competition.

Location

State MN

County Carver

Zoning Business/Commercial

Interior

Heating Baseboard, Radiator(s)

Cooling Window Unit(s)

Inclusions Building, Business Assets, Business, Fixture/Equipment, Inventory, Land, Leases

Fireplace No

Appliance Gas Water Heater, Microwave, Range, Refrigerator, Stainless Steel Appliances

Exterior

Parking Features Gravel, Guest Parking, Paved

Utilities Available Electric Separate, Heating Separate

Roof Type Age 8 Years or Less

Present Use Laundromat,Residential

Building

Lot Description Corner Lot, Some Trees, Underground Utilities, Zero Lot Line

Story Two

Foundation 6800

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Two

Structure Type Vinyl Siding

Schools

School District Central

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Listed by Nishul Patel • Bridge Realty, LLC

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