City Centre Condos Units 101-336 109 E Luverne St 32 Unit Block of Flats £1,319,115 (£41,222/Unit) Luverne, MN 56156

INVESTMENT HIGHLIGHTS

  • Unique renovated school building
  • Shared laundry, basketball court & community room
  • Updated units

EXECUTIVE SUMMARY

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!

FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access

ANNUAL ANNUAL PER SF
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

PROPERTY FACTS Under Contract

Price £1,319,115
Price Per Unit £41,222
Sale Type Investment
No. Units 32
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class C
Lot Size 2.21 AC
Building Size 75,000 SF
Number of Floors 3
Year Built/Renovated 1925/2000
Parking Ratio 2.56/1,000 SF
Opportunity Zone Yes
Zoning D - Downtown

AMENITIES

UNIT AMENITIES

  • Air Conditioning
  • Dishwasher
  • Storage Space
  • Kitchen
  • Fridge
  • Oven
  • Wheelchair Accessible (Rooms)

SITE AMENITIES

  • Laundry Facilities
  • Basketball Court
  • Lift
  • Multi Use Room

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS Avg. Rent.Mo SF
2+1 1655 £648.25 744 - 984
1+1 1005 £580.41 734 - 1,057
  • Listing ID: 28412118

  • Date on Market: 05/05/2023

  • Last Updated:

  • Address: 109 E Luverne St, Luverne, MN 56156