Coldwell Banker Realty
17305 Cedar Avenue
MN 55044
Hittner Group
For Sale
$875,000
224 Main Street E
Norwood Young America,
MN 55397
This property was built in 1911 with many recent improvements including a new roof in 2019 & all 6 units renovated in the last 3 years. One building features 6 two-bedroom apartments with the other building featuring one retail property, currently the laundromat is owned by the Landlord. The two-parcel offering includes ample Class IV gravel off-street parking in the rear of each respective building. Each unit is separately metered for gas and electric, making expenses relatively low for this investment. The residential building has new boilers (2025). The property has a strong rental history and is 100% occupied.
The landlord has successfully renovated all units along with rent increases per year of 7%-10% since purchasing the building in 2020, making this acquisition a solid-performing asset in a growing community with little to no competition.
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Listings courtesy of NorthstarMLS® as distributed by MLS GRID. Office: Bridge Realty, LLC
Listings courtesy of NorthstarMLS® as distributed by MLS GRID.
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