1806 E Lincoln Ave - Apartments FOR SALE


Montevideo, MN 56265
$499,000 USD
320-253-0003
1806 E Lincoln Ave, Montevideo, MN for Sale
$499,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

1806 E Lincoln Ave
Montevideo, MN 56265


HIGHLIGHTS

  • Some common area furniture included
  • Common laundry with machines
  • Fenced area with raised garden beds
  • Two full kitchens
  • Community/living rooms have built-ins
  • Vinyl, plank and carpet throughout

OVERVIEW

Property Description Offered for sale is a 5,800 SF residential income property currently configured as a shared-living / group-home style residence. The building features 10 bedrooms with potential for 11–12 bedrooms, multiple shared bathrooms, and extensive common areas including shared kitchens, dining space, living and activity rooms, laundry facilities, and office space. The property includes ADA-accessible features such as grab bars, a handicap tub, and roll-in shower. Zoned R-2 Multi-Family Residential, the property offers future redevelopment or reconfiguration potential, subject to city approvals. This is not a traditional apartment building and does not contain individual dwelling units. Ideal for specialty housing operators, shared-living concepts, workforce housing, or investors seeking a value-add or redevelopment opportunity. Location Description Located in a quiet residential area of Montevideo, Minnesota, the property sits within an established neighborhood with convenient access to local services, schools, and employment centers. The site offers a residential setting suitable for shared-living or specialty housing uses, with paved parking and easy access from Lincoln Avenue. The surrounding area consists primarily of residential properties, supporting long-term residential demand and stable neighborhood use. Highlights 5,800 SF residential building on approximately 0.58 acres 10 bedrooms with potential for 11–12 bedrooms (buyer to verify) Multiple shared bathrooms Shared kitchens and dining area Shared living room and activity/common space Office space that may be convertible to a bedroom ADA-accessible features including roll-in shower and handicap tub Common laundry room Forced-air heat; natural gas City water and sewer On-site paved parking Zoned R-2 Multi-Family Residential Suitable for shared-living, group home, or specialty residential use Redevelopment or conversion potential subject to municipal approvals

FOR SALE DETAILS

PRICE

$499,000 USD

PRICE/SF

$96 USD /SF

# OF UNITS

10

PRICE/UNIT

$49,900

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,265 SF

ZONING

Multifamily

APN/PARCEL ID

70-387-0110

ASK ABOUT THIS PROPERTY

Mike BobickSVN | GC Real EstateMore Info
320-253-0003

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Mike BobickSVN | GC Real EstateMore Info
320-253-0003

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.