Mankato Apartment Building Investment
For Sale
Under Contract
$2,100,000
123 N 4th Street, Mankato, MN 56001
COMMERCIAL - Mankato, MN
Days on Market118
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
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: Jun 26
Last Checked: Aug 1 at 1:06AM
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.
This 28-unit apartment building in Mankato, MN, presents an investment opportunity. The property includes 19 one-bedroom units, 3 two-bedroom units, and 6 studio apartments. Recent improvements feature new windows, updated flooring, fresh paint, new doors, and tiled hallways. An on-site laundry area is available. Select units have upgraded kitchen cabinetry and countertops. The property offers additional renovation opportunities for a new owner to further enhance value and increase rents. Investors can customize management and maximize returns by updating remaining units and placing their own tenants. The building is located within walking distance of downtown amenities and public transit.
Key Highlights
- 28‑unit apartment building investment opportunity.
- Attractive mix of 19 one‑bedroom, 3 two‑bedroom, and 6 studio apartments.
- Recent improvements include new windows, updated flooring, fresh paint, new doors, tiled hallways.
Property Analytics
Property Profile
Current Use
Lease Details
28
Residential units
Location Intelligence
Trade Area within ½ mile
566
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 28-unit apartment building near downtown Mankato.
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‑unit apartment building investment opportunity.; Attractive mix of 19 one‑bedroom, 3 two‑bedroom, and 6 studio apartments.; Recent improvements include new windows, updated flooring, fresh paint, new doors, tiled hallways.
