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    109 Luverne St Luverne, MN 56156

    For Sale
    $1,750,000

    Prime 32-unit complex, excellent investment.

    Property size:
    75,000 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    315
    This exceptional 32-unit condominium complex, situated in the heart of Luverne, Minnesota, presents a compelling investment opportunity. Originally a school building, this property has undergone a meticulous transformation into a thriving residential community. The 75,000 square foot building sits on a 2.22-acre lot and offers a diverse range of 1, 2, and 3-bedroom units, catering to a broad spectrum of residents. Residents enjoy convenient access to a full-court gymnasium, perfect for year-round recreation. Community amenities include a spacious outdoor yard ideal for relaxation and gatherings, a dedicated community room for events, and a shared coin-operated laundry facility for added convenience. Elevator access ensures easy movement throughout the building. The property's prime location offers unparalleled convenience, with proximity to a variety of restaurants, shops, businesses, Luverne City Park, and the Rock River. Buyer financing is available, making this an even more attractive proposition. This well-maintained complex represents a rare opportunity to acquire a thriving, established residential property in a desirable location. Don't miss this chance to own a piece of Luverne's vibrant community.

    Property Features for 109 Luverne St

    General Information

    Property type
    Residential income properties
    Square Feet
    75,000 SF
    Lot Size
    96,703 SF

    Building Details

    Year Built
    1925
    Property Profile Location Intelligence

    Current Use by Public Records

    City Centre Apartments Apartment Building

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Luverne
    County
    Rock
    State
    Minnesota
    Longitude
    -96.20878
    Latitude
    43.65679

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    FAQs

    What type of property is this?
    Residential income property - Prime 32-unit complex, excellent investment.
    Where is this residential income property located?
    The property is located at 109 Luverne St Luverne, MN.
    What is the asking price?
    The asking price for this property is $1,750,000.
    (952) 226-7700
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    109 Luverne St Luverne, MN 56156
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