10-Unit Apartment
For Sale
$315,000
10 1st Avenue NW, Wells, MN 56097
Commercial Sale, Wells, MN
Property SizeContact for details
Lot Size0.16 Acres
Days on Market250
Property Features for 10 1st Avenue NW
General Information
Property type
Commercial Sale
Property subtype
Apartment
Zoning description
Residential-Multi-Family
Rooms
Basement
Parking features
On Street
Subdivision
Village/Wells
High school district
United South Central
Directions
From Mankato, take MN-22 south to I-90 east, exit at MN-22 north toward Wells, then turn right onto 1st Ave NW where 10 1st Ave NW will be on your right.
Standard status
Active
APN
302000061
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6334
Utilities
Heating system
Baseboard, Forced Air, Oil
Building Details
Year built
1948
Roof type
Rubber, Flat
Listing Agency:
RE/MAX Results · RE/MAX International
(763) 235-7000
Listed By:
Dylan A Maitland
(952) 829-2900
Added: Feb 3
Changed: Oct 8
Last Checked: Oct 11 at 3:06PM
MLS# 7016268
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1948, this apartment property contains 10 units: two studios, four one-bedroom apartments, and four two-bedroom apartments. A two-bedroom unit is vacant and undergoing remodeling. Residents have access to owner-provided washer and dryer equipment; the machines are not coin-operated. The unfinished basement is used for storage and supplies, and additional rental storage spaces are present.
The property occupies 0.16 acres in Wells, Minnesota, with on-street parking. Heating includes baseboard, forced-air, and oil systems.
The property occupies 0.16 acres in Wells, Minnesota, with on-street parking. Heating includes baseboard, forced-air, and oil systems.
Key Highlights
- 10 apartments: 2 studios, 4 one‑bedroom units, and 4 two‑bedroom units
- One vacant two‑bedroom apartment is being remodeled
- Owner‑provided, non‑coin‑operated washer and dryer
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Demographics for 56097, MN
3,613
Population
1,801
Households
2
Avg Household Size
44
Median Age
20%
College-Educated
92%
High-School Grad
175.6 sq mi
ZIP Area
21
Density / Sq Mi
$63,646
Median Household Income
$42,046
Median Earnings
$761
Median Rent
$118,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartments include shared laundry equipment, an unfinished basement, and a mix of studio, one-bedroom, and two-bedroom layouts.
Where is this apartment building located?
The property is located at 10 1st Avenue NW Wells, MN.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 10 apartments: 2 studios, 4 one‑bedroom units, and 4 two‑bedroom units; One vacant two‑bedroom apartment is being remodeled; Owner‑provided, non‑coin‑operated washer and dryer
