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109 E Luverne Street Luverne, MN $ 1,990,000
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$ 1,990,000 Get more info
109 E Luverne Street
$ 1,990,000
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109 E Luverne Street

Luverne, MN, 56156
$ 1,990,000
Baths0.0 Sq 75,000

Monthly Estimate*

$ 13,901

109 E Luverne Street, Luverne, MN 56156 - Image 1
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Studio

Commercial Property for sale in Luverne, MN

for $1,990,000. This 75,000 square foot building was built in 1925 on a lot size of 2.22.

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.

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Commercial Active

Price

$ 1,990,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 12,000

Style

Apartment,Low Rise

Lot Size

2.22

Year Built

1925

Town/City

Luverne

County/Region

Rock

MLS | Web ID

6363089
Features
General
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
Garage Spaces 0
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 269700
Accessibility Accessible Elevator Installed Hallways 42 + Wheelchair Ramp(s)
County Rock
Net Operating Income 145008
Operating Expense 124692
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
Total Units 34
Street Name Luverne
Land Lease Y/N N
Tax Annual Amount 12000
Additional Parcels Y/N N
Days on Market 344
Standard Status Active
Lender Owned No
Amenities Unit Ceiling Fan(s) Indoor Sprinklers Main Floor Primary Bedroom
Buyer Agent Compensation Type %
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Exterior
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
Lot Size Units Acres
Foundation Area 25000
Road Frontage Type City Street Curbs Paved Streets Sidewalks Street Lights
Road Responsibility Public Maintained Road
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Interior
Basement (Y/N) N
Street Suffix Street
Fuel Electric
Garage Square Feet 0
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Internal Only
Street Number 1 109
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* Excluded Features
List By
Re/Max Advantage Plus

Broker

jason@walgrave.com

Email

Affordability Calculator

$14,901
Per Month
93%
7%
0%
Monthly Principal & Interest
$13,901
Monthly Property Taxes
$1,000
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
3048353 Elementary School
3048775 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
6/12/2023$1,990,000 -5.24% Price Down
5/5/2023$2,100,000 Listed Price

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109 E Luverne Street, Luverne, MN, 56156 is a Commercial Property for sale at $1,990,000 with 75,000 sqft and a lot size of 2.22. 109 E Luverne Street is a studio with 0.0 baths and was built in 1925. The property's zip code is 56156 which is in Luverne, MN

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