28-Unit Apartment
For Sale
Under Contract
$2,100,000
123 N 4th Street, Mankato, MN 56001
COMMERCIAL, Mankato, MN
Property SizeContact for details
Days on Market163
Property Features for 123 N 4th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Elementary school district
Mankato #77
Middle school district
Mankato #77
High school district
Mankato #77
Directions
Madison Ave to Fourth Street. Apartment complex on left
Subdivision
MANKATO CENTRAL
Standard status
Active Under Contract
APN
R01.09.18.203.004
Taxes and HOA fees
Tax Year
2026
Tax Description
CITY OF MANKATO 002 048 00
Tax Annual Amount
24063
Legal Description
CITY OF MANKATO 002 048 00
Utilities
Heating system
Oil
Amenities
on site laundry area
Building Details
Year built
1926
Roof type
Flat
Listing Agency:
Keller Williams Premier Realty · Keller Williams Realty
(504) 742-4442
Listed By:
SHAWNA WOLFE · License #20215401
(507) 420-1877
Added: Apr 6
Changed: Sep 5
Last Checked: Sep 15 at 6:06AM
MLS# 7039895
Copyright © 2026 Realtor Association of Southern Minnesota. 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 1926, this 28-unit apartment property includes 19 one-bedroom residences, 3 two-bedroom residences, and 6 studios. Improvements include replacement windows, refreshed flooring, interior painting, new doors, tiled hallways, and an on-site laundry area. Select apartments also feature upgraded kitchen cabinetry and countertops. The building has a flat roof and oil heating.
Additional renovation work remains in portions of the property, allowing a future owner to continue updating the apartments and common areas. The property is located within walking distance of downtown amenities and public transit, with an address at 123 N 4th Street in Mankato, Minnesota.
Additional renovation work remains in portions of the property, allowing a future owner to continue updating the apartments and common areas. The property is located within walking distance of downtown amenities and public transit, with an address at 123 N 4th Street in Mankato, Minnesota.
Key Highlights
- 28 total units: 19 one‑bedroom, 3 two‑bedroom, and 6 studio apartments
- Built in 1926 with a flat roof and oil heating
- Recent improvements include windows, flooring, paint, doors, and tiled hallways
Property Analytics
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Current Use
Lease Details
28
Residential units
Location Intelligence
Trade Area within ½ mile
1,624
Businesses Nearby
Explore this area
Business Placement
Demographics for 56001, MN
50,729
Population
21,583
Households
2.4
Avg Household Size
30
Median Age
37%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
443
Density / Sq Mi
$67,224
Median Household Income
$29,122
Median Earnings
$1,088
Median Rent
$263,100
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 - Updated common areas and select units complement on-site laundry and a mixed studio and one- and two-bedroom layout.
Where is this apartment building located?
The property is located at 123 N 4th Street Mankato, MN.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 28 total units: 19 one‑bedroom, 3 two‑bedroom, and 6 studio apartments; Built in 1926 with a flat roof and oil heating; Recent improvements include windows, flooring, paint, doors, and tiled hallways
