$1,990,000
109 E Luverne Street
Luverne, MN 56156
MLS# 6363089

109 E Luverne St is a 34-unit apartment building offering a great investment opportunity!
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109 E Luverne St is a 34-unit apartment building offering a great investment opportunity! Well kept building on a clean and spacious lot 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 Awesome rec space with full court basketball court 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 Close to Luverne City Park on the shores of the Rock River 109 E Luverne Street, Luverne, MN 56156 109 E Luverne Street, Luverne, MN 56156 Peaceful river views along the Rock River Peaceful river views along the Rock River Peaceful river views along the Rock River Peaceful river views along the Rock River

Property Description
This is a great investment opportunity to own the City Centre Apartments, a 34-unit apartment complex in the heart of Luverne! This original school building has been renovated into a unique residential space complete with a full court basketball court! Well-kept and clean building with spacious outdoor yard space, community room for hosting events and gatherings, shared coin laundry room and elevator access to upper level floors. Compromised of a variation of 1, 2 & 3-bedroom units that are currently leased. Convenient location close to many restaurants, shops & businesses, Luverne City Park and the Rock River.

Details
Maps
None
MLSID: RMLS
Contract Information
Status: Active
Current Price: $1,990,000
Contingency: None
ListPrice: 1990000
List Date: 2023-05-04
Owner is an Agent?: No
Auction?: No
Office/Member Info
Association: SPAAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Year Built: 1925
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 25000
For Sale or Lease: For Sale
Acres: 2.21
Lot Dimensions: 339x284x339x284
Assessment Pending: Unknown
Location, Tax and Other Information
Legal Description: CITY CENTER CONDOMINIUMS INC CIC #13 BLOCK 17 COMMON INTEREST COMMUNITY #13 1/37TH INT IN ALL COMMON PROPERTY
Listing City: Luverne
Map Page: 999
Municipality: Luverne
Rental License?: No
School District Phone: 507-283-8088
House Number: 109
Street Direction Prefix: E
Street Name: Luverne
Street Suffix: Street
Postal City: Luverne
County: Rock
State: MN
Zip Code: 56156
Zip Plus 4: 4535
Property ID Number: TBD
Complex/Dev/Subdivision: City Center Condo Inc Cic #13
Tax Year: 2022
Tax Amount: 12000
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: This is a great investment opportunity to own the City Centre Apartments, a 34-unit apartment complex in the heart of Luverne! This original school building has been renovated into a unique residential space complete with a full court basketball court! Well-kept and clean building with spacious outdoor yard space, community room for hosting events and gatherings, shared coin laundry room and elevator access to upper level floors. Compromised of a variation of 1, 2 & 3-bedroom units that are currently leased. Convenient location close to many restaurants, shops & businesses, Luverne City Park and the Rock River.
Directions: From Main and 75 North to Luverne St -East to Property
Assessments
Tax With Assessments: 12000
Building Information
Building Finished SqFt: 75000
Building SqFt: 75000
Income and Expenses
Annual Gross Expenses: 139182
Annual Gross Income: 307320
Annual Net Income: 168138
Total Annual Expenses: 139182
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Sale Options
Sale Includes: Building, Leases
Unit 1
No. of 1 Bedroom Units: 7
Unit 2
No. of 2 Bedroom Units: 22
Unit 3
No. of 3 Bedroom Units: 4
Unit Details
Total Units: 34
Property Features
Accessible: Accessible Elevator Installed; Hallways 42"+; Wheelchair Ramp
Air Conditioning: Central
Amenities Shared: Coin-op Laundry Owned; Concrete Floors & Walls; Elevator(s); Fire Sprinkler System; In-Ground Sprinkler System; Security Building; Other
Amenities Unit: Ceiling Fan(s); Indoor Sprinklers; Main Floor Primary Bedroom
Appliances: Dishwasher; Range; Refrigerator; Stainless Steel Appliances
CMU Style: Apartments/Multi Family; Low Rise
Construction Status: Previously Owned
Current Use: Residential
Exterior: Brick/Stone
Fuel: Electric
Heating: Baseboard
Miscellaneous Information: Building Sign
On Site Utilities: Electric Separate; Heating Separate
Owner Pays: Lawn; Lawn; Maintenance/Repair; Snow Removal; Water
Parking Characteristics: Parking Lot; Paved Lot
Pool Description: None
Road Frontage: City Street; Curbs; Paved Streets; Sidewalks; Street Lights
Road Responsibility: Public Maintained Road
Roof: Flat; Rubber; Tar/Gravel
Sewer: City Sewer/Connected
Shared Rooms: Other
Stories: Three Or More
Tenant Pays: Broadband; Electricity
Water: City Water/Connected

Listing Office: RE/MAX Advantage Plus

Last Updated: April - 30 - 2024

109 E Luverne Street, Luverne, MN 56156 - MLS# 6363089
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

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