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RECENTLY VIEWED
224 Main Street E, Norwood Young America, MN 55397
sale
$875,000
|
Other
Courtesy Of Bridge Realty
This property was built in 1911 with many recent improvements including a new roof in 2019 & all 6 units renovated in the last 3 years. One building features 6 two-bedroom apartments with the other building featuring one retail property, currently the laundromat is owned by the Landlord. The two-parcel offering includes ample Class IV gravel off-street parking in the rear of each respective building. Each unit is separately metered for gas and electric, making expenses relatively low for this investment. The residential building has new boilers (2025). The property has a strong rental history and is 100% occupied.
The landlord has successfully renovated all units along with rent increases per year of 7%-10% since purchasing the building in 2020, making this acquisition a solid-performing asset in a growing community with little to no competition.
The landlord has successfully renovated all units along with rent increases per year of 7%-10% since purchasing the building in 2020, making this acquisition a solid-performing asset in a growing community with little to no competition.
Copyright © 2025 Regional Multiple Listing Service of Minnesota [NorthStarMLS]. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Property Features
- Age: Over 50 Years Old
- Appliance: Microwave
- Appliance: Refrigerator
- Appliance: Range
- Architecture Style: Other
- Exterior Type: Block
- Floor Covering: Vinyl
- Heating System: Baseboard
- Heating System: Other (Heating)
- Legal Description: W1/2 OF LOTS 4 & 5 EXC: N 53' OF W1/2 THEREOF OLD # 95.0500520 SUBDIVISIONNAME CITY LOTS OF YOUNG AMERICA BLOCK 009 SUBDIVISIONCD 58051 SECTION 11 TOWNSHIP 115 RANGE 026
- MLSID: 6699747
- Rooms: Bedroom 5
- Rooms: Bedroom 4
- Rooms: Bedroom 3
- Rooms: Bedroom 2
- Rooms: Bedroom 1
Directions to This Property
224 Main Street E, Norwood Young America, MN 55397
Demographic Data for 224 Main Street E, Norwood Young America, MN 55397
Average Age
40
Married
63%
Number of Homes
1,112
Homes with Children
33.99%
Occupation Type
Transportation to Work
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