520 S 2nd St - Multi-Family FOR SALE


Mankato, MN 56001- Downtown Mankato
$564,900 USD
651-500-4720
520 S 2nd St, Mankato, MN for Sale
$564,900 USD
Multi-Family - FOR SALE
1/41
null | 7.95% Cap Rate

520 S 2nd St
Mankato, MN 56001
Downtown Mankato


HIGHLIGHTS

  • Off Campus Student Housing on the bus line
  • Four streams of income $$$ Apartments/outdoor parking spaces/garage
  • A+ walking score - bars, restaurants, groceries, entertainment, professional services, everything downtown

OVERVIEW

LOCATED IN AN OPPORTUNITY ZONE. This investment property has four streams of income. There is a main level five bedroom, three bath apartment. There is an upper level four bedroom one bath apartment. Both apartments include a washer/dryer. There is off street parking for tenants and guests. There are six rented parking stalls adding extra income. The double garage is also rented separately. The interior finishes include marble, tile, granite, and stainless steel appliances. There is a private 19x17 patio on the south side of the property. This is located on the city bus route and walkable to everything downtown. It's about a half mile to Minnesota State University Mankato campus and has been traditionally occupied by students. The zoning is CBDF, Central Business District Fringe. The garage is a possible office conversion.

FOR SALE DETAILS

PRICE

$564,900 USD

PRICE/SF

$160 USD /SF

# OF UNITS

2

PRICE/UNIT

$282,450

CAP RATE

7.95%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1884

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

Comm./Multi Family res.

APN/PARCEL ID

R01-09-18-106-027

ASK ABOUT THIS PROPERTY

Kevin GoettlKevin GoettlMore Info
651-500-4720

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Kevin GoettlKevin GoettlMore Info
651-500-4720

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