Primary on Main
Address
109 E Luverne Street, Luverne, MN
Price
$ 1,990,000
Property Attributes
  • ID#6363089
  • TypeCommercial
  • CountyROCK
  • CityLuverne
  • AreaCity Center Condo Inc Cic #13
  • NeighborhoodCity Center Condo Inc Cic #13
  • Zip56156
  • StyleApartment,Low Rise
  • Year Built1925
  • Taxes$ 12000
  • Price$ 1,990,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage75000
  • Lot Size2.22 Acres
Data Source:
Northstar MLS (NSTAR)
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.

Price History
5/5/2023 Listed $2,100,000
6/12/2023 6% - $1,990,000

General Features

Sewer City Sewer/Connected
Heating Baseboard
Cooling Central Air
Utilities Electric Separate,Heating Separate
Roof Flat,Rubber,Tar/Gravel
Appliances Dishwasher,Range,Refrigerator,Stainless Steel Appliances
Construction Materials Brick/Stone
Year Built 1925
Tenant Pays Electricity
Levels Three Or More
Property SubType Apartment,Low Rise
Tax Year 2022
Current Use Residential
Gross Income 307320
OwnerPays Grounds Care,Repairs,Snow Removal,Water
Accessibility Accessible Elevator Installed,Hallways 42 +,Wheelchair Ramp(s)
County Rock
Net Operating Income 168138
Operating Expense 139182
Property Type Commercial Sale
Association Amenities Coin-op Laundry Owned,Concrete Floors & Walls,Elevator(s),Fire Sprinkler System,In-Ground Sprinkler System,Other,Security
Contingency None
Subdivision Name City Center Condo Inc Cic #13
Directions From Main and 75 North to Luverne St -East to Property
City Luverne
Buyer Agent Compensation 2.50
High School District Luverne
Zoning Description Residential-Multi-Family
NumberOfUnitsTotal 34
Lot Size Units Acres
Land Lease Y/N No
Tax Annual Amount 12000
Additional Parcels Y/N No
Days on Market 362
Standard Status Active
Lender Owned No
Amenities Unit Ceiling Fan(s),Indoor Sprinklers,Main Floor Primary Bedroom
Buyer Agent Compensation Type %
PostalCity Luverne

Interior Features

Basement (Y/N) No
Fuel Electric

Exterior Features

Parking Features Parking Lot,Paved
Water Source City Water/Connected
Inclusions Building,Leases
Lot Size Area 2.22
Building Area Total 75000
Lot Dimensions 339x284x339x284
Foundation Area 25000
Road Frontage Type City Street,Curbs,Paved Streets,Sidewalks,Street Lights
Road Responsibility Public Maintained Road

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 56156

Price
AVG $1.82M
$1.99M
Taxes
AVG $8,180
$12,000
Visits
AVG 256
956
Data Provided by Inside Real Estate®
Year Built
AVG 1947
1925
Walkscore
AVG 54
60
Data Provided by Walkscore® not using MLS data