, Mankato, MN 56001 (MLS# 7049981)

Overview

Description

28-unit apartment building investment opportunity! This property features 19 one-bedroom units, 3 two-bedroom units, and 6 studio apartments. Recent improvements include new windows, updated flooring, fresh paint, new doors, tiled hallways, on site laundry area, and select units with upgraded kitchen cabinetry and countertops. While many updates have been completed, the property still offers additional renovation opportunities for a new owner to further enhance value and increase rents. With the ability to update remaining units and place your own tenants, this is an ideal opportunity for investors looking to customize management and maximize returns. Located within walking distance to downtown amenities and public transit.

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Waterfront YN: No
Year Built: 1926
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 5412
For Sale or Lease: For Sale
Acres: 0.24
Lot Dimensions: 158x67
Assessment Pending: No
Other Parking Spaces: 0
Garage Stalls: 0

Property Features

Accessible: None CMU Style: Apartments/Multi Family Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone Foundation: Concrete Block Fuel: Natural Gas Heating: Boiler Lock Box Type: None On Site Utilities: Electric Separate Sewer: City Sewer/Connected Stories: Three Or More Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 2100000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

Postal City: Mankato
County: Blue Earth
State: MN
Zip Code: 56001
Complex/Dev/Subdivision: Mankato

Assessments

Assessment Balance: 6510.88
Tax With Assessments: 30574
Assessment Installment: 0

Building Information

Building Finished SqFt: 21648

More Information

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building

Unit Details

Total Units: 28

Office/Member Info

Association: SEMR

Location, Tax and Other Information

Legal Description: CITY OF MANKATO 002 048 00
Listing City: Mankato
Map Page: 999
Municipality: Mankato
School District: Mankato
School District Phone: 507-387-1868
Property ID Number: R010918203004
Tax Year: 2026
Tax Amount: 24063.12
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: 28-unit apartment building investment opportunity! This property features 19 one-bedroom units, 3 two-bedroom units, and 6 studio apartments. Recent improvements include new windows, updated flooring, fresh paint, new doors, tiled hallways, on site laundry area, and select units with upgraded kitchen cabinetry and countertops. While many updates have been completed, the property still offers additional renovation opportunities for a new owner to further enhance value and increase rents. With the ability to update remaining units and place your own tenants, this is an ideal opportunity for investors looking to customize management and maximize returns. Located within walking distance to downtown amenities and public transit.
Directions: Madison Ave to N Fourth Street, Apartment complex on the left.

Accessible

None: Yes

Construction Status

Previously Owned: Yes

Exterior

Brick/Stone: Yes

Foundation

Concrete Block: Yes

Fuel

Natural Gas: Yes

Heating

Boiler: Yes

Lock Box Type

None: Yes

Sewer

City Sewer/Connected: Yes

Stories

Three Or More: Yes

Water

City Water/Connected: Yes

On Site Utilities

Electric Separate: Yes

CMU Style

Apartments/Multi Family: Yes

Current Use

Residential: Yes

Mankato, MN 56001