Village Green Apartments is a superior chance to acquire a value-add opportunity in southern Minnesota close to the Iowa border. The unit mix offers fourteen two-bedroom and ten one-bedroom all with one bathroom. The property consists of three 8-plexes and is situated on a 0.97-acre corner lot right across the street from Putnam Park with tennis courts and community swimming pool. Includes on-site coin laundry facilities in each building, newer water heaters, and plenty of off-street parking! This one has huge potential by organically raising rents to market while improving the operating expenses to quickly increase its value!
Built in 1979-1980, this very well-maintained building features a mix of one and two-bedroom units all with one bathroom, providing a variety of options for potential renters. Additionally, the property includes a spacious parking lot with 34 separate parking spaces, ensuring that tenants have ample space to park their vehicles.
The exterior of the property is well-maintained and features a classic brick façade with vinyl siding, while the interior of the units are spacious and have updated appliances. The property is conveniently located near major highways and the downtown area, making it easy for tenants to enjoy all that Blue Earth has to offer.
Investors looking for a value-add opportunity with strong cash flow potential will appreciate the low maintenance costs and high rental demand in the area. Don't miss out on this rare opportunity to own a property that is super clean and well maintained and also in a non-rent controlled city of Minnesota!
Property Facts
Year Built: 1979-1980
Square Footage: 19,200
Units: 24
Zoning: Multiple-family District
Parking: 34 Off-Street Parking Spaces
Exterior: Brick and Vinyl Siding with Gutters Replaced in 2019
Heating: Hot Water Boiler and Electric Baseboard Systems
Roof: Pitched - All Three Buildings Replaced in 2019
Unit Description
14 - 2 bedroom, 1 bath - Approx. 790+ Sqft.
10 - 1 bedroom, 1 bath - Approx. 630+ Sqft
Price: $1,300,000
Information is deemed reliable but not guaranteed. Buyer and Buyer's agent to verify all details.
