For Sale: New Ulm MLS# 6820873
Active
NEW!
$460,000
Commercial: Apartments
Built 1947
0.19 acres
New Ulm schools
MLS# 6820873
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Property Description
Excellent investment opportunity in downtown New Ulm. This 12-unit apartment building offers both immediate income and strong value-add potential. Six units are currently leased, providing in-place revenue.
Of the remaining six units, three need only minor updates to become rent-ready, one unit has been fully gutted and is ready for a complete build-out, and two require more extensive repairs. Located in a convenient downtown setting close to amenities, this property offers long-term rental demand and solid upside for an investor ready to complete the renovations.
Priced to reflect the work needed, this property is an ideal value-add opportunity.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$460,000
Property Type:
Commercial
City:
New Ulm
Garage Spaces:
0
County:
Brown
Year Built:
1947
State:
MN
Property Style:
Apartments
Zip Code:
56073
Subdivision Name:
South Of Center
Interior
Ranges:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Partial
- Unfinished
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
0
Air Conditioning:
Wall Unit(s), Window Unit(s)
Foundation Size:
4,750 ft2
Handicap Accessible:
Hallways 42"+
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Hot Water
- Other
- Radiator(s)
- Steam
Parking Features:
- On-Street Parking Only
- Unassigned
Road Frontage:
City Street
Exterior Material:
Brick/Stone
Roof Details:
- Age Over 8 Years
- Flat
Lot & Land
Acres:
0.19
Geolocation:
44.311101, -94.456309
Inclusions:
Building, Leases
Lot Dimensions:
50 x 165
Zoning:
Business/Commercial
Schools
School District:
88
District Phone:
507-359-8401
Expenses
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$6,054
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$6,534
Units
Total Units:
12
Miscellaneous
Current Use:
Residential
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Separate
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Keller Williams Premier Realty.
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.