For Sale: Luverne MLS# 6578414
Active Contingent
$1,750,000
Commercial: Other
Built 1925
2.22 acres
Luverne schools
MLS# 6578414
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Property Description
Discover the City Centre condominium complex, a prime 32-unit complex in the vibrant heart of Luverne! Once an original school building, this property has been masterfully transformed into distinctive residential units, complete with a full court gymnasium for recreation year-round. The well-maintained building features a spacious outdoor yard, a community room for events and gatherings, a shared coin laundry room and elevator access to upper floors. Offering a variety of 1, 2, and 3-bedroom units, this property is an attractive investment. Buyer financing is available. Located conveniently near restaurants, shops, businesses, Luverne City Park and the Rock River, this is an opportunity you don�??t want to miss!
Listing
Listing Status:
Active Contingent
Contingency:
Other
List Price:
$1,750,000
Property Type:
Commercial
City:
Luverne
Garage Spaces:
0
County:
Rock
Year Built:
1925
State:
MN
Property Style:
Other
Zip Code:
56156
Subdivision Name:
City Center Condo Inc Cic #13
Interior
Appliances Included:
- Dishwasher
- Range
- Refrigerator
- Stainless Steel Appliances
Exterior
Stories:
Three Or More
Garage Spaces:
0
Other Parking Spaces:
0
Air Conditioning:
Central Air
Foundation Size:
25,000 ft2
Handicap Accessible:
Accessible Elevator Installed, Hallways 42"+, Wheelchair Ramp(s)
Road Responsibility:
Public Maintained Road
Heating System:
Baseboard
Parking Features:
- Parking Lot
- Paved
Shared Amenities:
- Coin-op Laundry Owned
- Concrete Floors & Walls
- Elevator(s)
- Fire Sprinkler System
- In-Ground Sprinkler System
- Other
- Security
Unit Amenities:
- Ceiling Fan(s)
- Indoor Sprinklers
- Main Floor Primary Bedroom
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Sidewalks
- Street Lights
Exterior Material:
Brick/Stone
Roof Details:
- Flat
- Rubber
- Tar/Gravel
Rooms
Shared Rooms:
Other
Lot & Land
Acres:
2.22
Geolocation:
43.656746, -96.208628
Inclusions:
Building, Fixture/Equipment
Lot Dimensions:
339 x 284 x 339 x 284
Zoning:
Residential-Multi-Family
Lot Description:
- Corner Lot
- Tree Coverage - Light
Schools
School District:
2184
District Phone:
507-283-8088
Expenses
Annual Gross Expense:
$135,192
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$18,480
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$18,480
Income
Annual Gross Income:
$303,660
Rent
Annual Net Income:
$168,468
Units
Total Units:
32
Unit Number:
Units 101-336
Miscellaneous
Current Use:
Residential
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of RE/MAX Advantage Plus.
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.