305 N Van Buren Avenue,Springfield, MN 56087
Springfield, MN 56087
Description
Excellent investment opportunity in Springfield, Minnesota! This well-maintained four-unit apartment building offers a strong combination of current rental income, multiple unit configurations, garage space, and significant potential for increased revenue. The property features two one-bedroom apartments and two two-bedroom apartments, with all four units currently occupied, providing an established income stream from day one. A major advantage of this property is the four detached garage stalls. With thoughtful restructuring of the garage spaces and a review of how the garage and rental spaces are utilized, there is substantial upside potential to increase monthly revenue. A new owner may have the opportunity to better allocate or separately rent garage space and make adjustments to the existing rental structure, creating additional income beyond what the current rates are. The property also includes coin-operated laundry, providing a convenient amenity for tenants and another source of potential income. Situated on a corner lot, the property offers good access, visibility, and off-street parking. This is an attractive opportunity for an investor looking for a property with existing occupancy and cash flow today, while still offering room to improve and increase revenue over time. The combination of four rental units, four detached garage stalls, on-site laundry, and potential for restructuring makes this a property with both stability and upside.
Details
| MLS # | 7129280 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1970 |
| Days On Site | 8 |
| Listing Provided By | Kemp Real Estate | Brett Bartholomaus |
Features
| Bed(s) | 6 |
|---|---|
| Bath(s) | 4 |
| SQ Feet | 2,400 |
| Garage | 4 |
| Basement | Y |
| Story(s) | 2 |
| Units | 4 |
| Zoning | Residential-Multi-Family |
| Acreage | 0.35 |
Interior
| Heating | Baseboard, Boiler |
|---|
Exterior
| Roof | Asphalt |
|---|---|
| Construction Materials | Block, Brick |
| Lot Features | Corner Lot, Tree Coverage - Light |
Parking
| Parking Features | Detached Garage, Gravel, Multiple Garages, Parking Lot |
|---|
Taxes
| Property | 3010 |
|---|
Area Information
| State | MN |
|---|---|
| County | Brown |
| City | Springfield |
| Zip Code | 56087 |
| Community Name | Van Dusen Add |
| School District | 85 |
| High School | Springfield |
| Listing VS Median (in Van Dusen Add) | |
Price: $300,000 low | high Med: $276,000 sqft: 2,400 low | high Med: 3,650 $ / sqft: $125 low | high Med: $88 On site: 8 low | high Med: 19 | |
Market Activity 56087
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Listings courtesy of Northstar MLS as distributed by MLS GRID.
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Learn More About This Property
| State | MN |
|---|---|
| County | Brown |
| City | Springfield |
| Zip Code | 56087 |
| Community Name | Van Dusen Add |
| School District | 85 |
| High School | Springfield |
| Listing VS Median (in Van Dusen Add) | |
Price: $300,000 low | high Med: $276,000 sqft: 2,400 low | high Med: 3,650 $ / sqft: $125 low | high Med: $88 On site: 8 low | high Med: 19 | |
