For Sale: Montevideo MLS# 7009752
Active
NEW!
$980,000
Commercial: Other
Built 1910
0.528 acres
Hancock schools
MLS# 7009752
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Property Description
Rare opportunity to acquire a well-maintained 9-unit multifamily property featuring two separate buildings on one parcel. The main turn-of-the-century home offers seven units and retains much of its original historic charm, blending character with modern updates. A second building provides an additional two units, creating a versatile unit mix.
Most units have been renovated, offering updated interiors while preserving classic architectural details. Property amenities include on-site coin laundry, a three-car garage, ample off-street parking, and a fenced yard with outdoor features.
The property offers a strong 7% cap rate, making it an attractive option for investors seeking stable income. The combination of historic appeal, functional updates, and on-site amenities contributes to long-term value and broad rental appeal.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$980,000
Property Type:
Commercial
City:
Montevideo
Garage Spaces:
3
County:
Chippewa
Year Built:
1910
State:
MN
Property Style:
Other
Zip Code:
56265
Subdivision Name:
Montevideo
Interior
Ceiling Height:
8-10
Flooring:
Carpet, Vinyl, Wood
Refrigerators:
One
Appliances Included:
- Dishwasher
- Dryer
- Microwave
- Range
- Refrigerator
- Washer
- Water Softener Owned
Basement Details:
Finished
Exterior
Stories:
Three Or More
Garage Spaces:
3
Foundation Size:
1,622 ft2
Fencing:
Chain Link, Full
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Boiler
Parking Features:
- Concrete
- Detached Garage
- Garage Door Opener
- More Parking Onsite for Fee
- Paved Lot
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Sidewalks
- Street Lights
Exterior Material:
Frame
Pool:
None
Roof Details:
Architectural Shingle
Lot & Land
Acres:
0.528
Geolocation:
44.9437875982, -95.720899181
Inclusions:
Building, Inventory, Rental License
Lot Dimensions:
200 x 105 x 108 x 22 x 92 x 127
Zoning:
Residential-Multi-Family
Lot Description:
- Tree Coverage - Light
- Underground Utilities
Schools
School District:
768
District Phone:
3202698833
Expenses
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$8,392
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$3,066
Income
Annual Gross Income:
$98,645
Rent
Annual Net Income:
$72,355
Units
Total Units:
9
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
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 Weichert REALTORS Tower Properties.
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.