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Nick Leavy

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

$899,900

Est. payment - /mo

0.53 Acres Lot

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Subdivision Montevideo

MLS Listing ID 7009752

Year Built 1910

Annual Tax Amount $8,392

Tax Year 2025

Contingent None

Lot Size 0.528 Acres

Lot Dimensions 200x105x108x22x92x127

Property Description

Rare opportunity to acquire a well-maintained 9-unit multifamily property featuring two separate buildings on one parcel. The main turn-of-the-century home offers seven units and retains much of its original historic charm, blending character with modern updates. A second building provides an additional two units, creating a versatile unit mix.

Most units have been renovated, offering updated interiors while preserving classic architectural details. Property amenities include on-site coin laundry, a three-car garage, ample off-street parking, and a fenced yard with outdoor features.

The property offers a strong 7% cap rate, making it an attractive option for investors seeking stable income. The combination of historic appeal, functional updates, and on-site amenities contributes to long-term value and broad rental appeal.

Location

State MN

County Chippewa

Zoning Residential-Multi-Family

Rooms

Basement Finished

Interior

Heating Boiler

Flooring Carpet, Vinyl, Wood

Inclusions Building, Inventory, Rental License

Fireplace No

Appliance Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer, Water Softener Owned

Exterior

Parking Features Detached Garage, Concrete, Garage Door Opener, Paved Lot, More Parking Onsite for Fee

Garage Spaces 3.0

Fence Chain Link, Full

Pool None

Utilities Available Electric Common, Heating Common, Hot Water Common

Roof Type Architectural Shingle

Present Use Residential

Building

Lot Description Tree Coverage - Light, Underground Utilities

Story Three Or More

Foundation 1622

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Three Or More

Structure Type Frame

New Construction false

Schools

School District Montevideo

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Listed by Jason Dowdey • Weichert REALTORS Tower Properties

Nearby School & Business

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215 S 5th ST Montevideo, MN 56265