About 224 Main Street E
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.
Features of 224 Main Street E
| MLS® # | 6699747 |
|---|---|
| Price | $875,000 |
| Bathrooms | 0.00 |
| Acres | 0.14 |
| Year Built | 1911 |
| Type | Commercial Sale |
| Sub-Type | Apartment |
| Style | Apartment |
| Status | Active |
Community Information
| Address | 224 Main Street E |
|---|---|
| Subdivision | City Lts Of Young America |
| City | Norwood Young America |
| County | Carver |
| State | MN |
| Zip Code | 55397 |
Amenities
| Amenities | Coin-op Laundry Owned |
|---|---|
| Garages | Gravel, Guest Parking, Paved |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Appliances | Gas Water Heater, Microwave, Range, Refrigerator, Stainless Steel Appliances |
|---|---|
| Heating | Baseboard, Radiator(s) |
| Cooling | Window Unit(s) |
| Fireplace | No |
Exterior
| Lot Description | Corner Lot, Some Trees, Underground Utilities, Zero Lot Line |
|---|---|
| Roof | Age 8 Years or Less |
| Construction | Vinyl Siding |
School Information
| District | Central |
|---|
Additional Information
| Days on Market | 194 |
|---|---|
| Zoning | Business/Commercial |
| Foreclosure | No |
| Short Sale | No |
Listing Details
| Office | Bridge Realty, LLC |
|---|