For Sale: Milroy MLS# 6577677
Active
$250,000
Commercial: 2 Stories
Built 1902
0.07 acres
Milroy schools
MLS# 6577677
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Property Description
Welcome to 501 Euclid Avenue! Discover a rare opportunity to own a unique multi-family property on the main street of Milroy, conveniently located across from the local gas station and fitness center. This property spans two parcels and features four rental units, including a stunning historic brick buildingā??originally the city's bankā??now transformed into a charming apartment complex with three distinct rental units.
Originally renovated starting in 2010, the building received a new foundation and a durable flat rubber membrane roof before being fully converted into rental spaces (roof has been recoated in 2023 - ready for years to come!). It includes a one-bedroom apartment, a two-bedroom apartment, and a studio-style unit, all designed with high ceilings, open living spaces, and preserved architectural details that exude historic charm. The apartment building is fully electric, powered by an updated geothermal system for efficient heating and cooling. Energy-efficient windows were custom-designed to maintain the buildingā??s original aesthetic while enhancing comfort.
Additionally, the property includes a completely renovated trailer home (2023), adding even more investment potential. The property has been well-loved and meticulously maintained. Whether you're looking for a strong investment opportunity or a piece of local history, this property is a must-see!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$250,000
Property Type:
Commercial
City:
Milroy
Garage Spaces:
0
County:
Redwood
Year Built:
1902
State:
MN
Property Style:
2 Stories
Zip Code:
56263
Interior
Ranges:
Three
Refrigerators:
Three
Basement Details:
Full
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
0
Air Conditioning:
Window Unit(s)
Foundation Size:
1,112 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Geothermal
Parking Features:
On-Street Parking Only
Shared Amenities:
Deck
Unit Amenities:
- Ceiling Fan(s)
- Deck
- Kitchen Window
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Sidewalks
Exterior Material:
- Brick/Stone
- Metal Siding
Roof Details:
- Flat
- Rubber
Lot & Land
Acres:
0.07
Geolocation:
44.418874, -95.553922
Inclusions:
Building, Leases
Lot Dimensions:
130 x 75
Addl Parcels:
852000420
Zoning:
Residential-Multi-Family
Lot Description:
Corner Lot
Schools
School District:
635
District Phone:
507-336-2563
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$2,018
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$2,154
Units
Total Units:
4
Miscellaneous
Current Use:
Residential
Fuel System:
- Electric
- Propane
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Edina Realty, Inc..
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.