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For Sale:  Austin MLS# 7160383

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Active NEW!
$310,000
/mo Edit
Multi-family:  Apartments
1 br • 4 ba • Built 1900
3,833 sqft • 0.123 acres
Austin schools
MLS# 7160383
763-576-8286
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    Property Description

    A compelling investment opportunity in the heart of Austin, this multifamily property offers four conforming units, one nonconforming unit, and additional upside for an investor with a vision. The property features four one-bedroom units, each with a bonus room, along with a fifth unit offering two bedrooms and a bonus room. Four units are currently rented at $650 per month, while the fifth unit is vacant, presenting an opportunity to secure a new tenant or explore alternative uses. The unfinished third level offers further potential for expansion, subject to applicable approvals, with possibilities for additional living space or future rental units. Rich in character and offering a flexible layout, the property presents an opportunity to reposition an established income-producing asset, evaluate rental rates, and pursue improvements over time. Centrally located in Austin, with convenient access to local businesses, services, and community amenities, this multifamily property offers investors an opportunity to build on existing income while exploring its longer-term potential.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $310,000
    Price per sq ft: $81
    Property Type: Multi-family
    City: Austin
    Garage Spaces: 0
    County: Mower
    Year Built: 1900
    State: MN
    Property Style: Apartments
    Zip Code: 55912
    Subdivision Name: Davidson

    Interior

    Bedrooms: 1
    Bathrooms: 4
    Finished Area: 3,833 ft2
    Living Area: 3,833 ft2
    Basement Details: Partial

    Exterior

    Stories: Two
    Garage Spaces: 0
    Foundation Size: 1,916 ft2
    Handicap Accessible: None
    Heating System: Forced Air
    Parking Features:
    • Gravel
    • Other

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.123
    Geolocation: 43.669219, -92.977446
    Lot Dimensions: 53 x 101
    Zoning: Residential-Multi-Family

    Schools

    School District: 492
    District Phone: 5074601900

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: None
    Annual Maintenance Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: None

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $2,272
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $2,272

    Income

    Annual Gross Income: None

    Units

    Total Units: 4

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

    Mortgage Calculator

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    Payment:  /mo

    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!

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    Listing provided by RMLS, courtesy of Coldwell Banker Realty - Lakes.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.