Montevideo Multifamily Investment
215 S 5th St, Montevideo, MN 56265
Nine-unit multifamily property in Montevideo's stable rental market.
Type:Multifamily
Property size:
8,619 SFPrice / SF:
$107/SF- Added:
- Feb 6, 2026
- Days on Market:
- 96
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 215 S 5th St
General Information
- Standard status
- Active
- Size
- 8,619 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1910
Listing agent Jason Dowdey License #40507956
Listing office Weichert Realtors-Tower Properties
Listing date Feb 6, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Weichert Realtors-Tower Properties
HighLights
- High Cap Rate: Approximately 7+% cap rate indicates strong current income.
- Stable Rental Market: Montevideo's diverse economy ensures consistent demand.
- Limited Competition: Low vacancy rates and limited competing inventory in Montevideo.
- Prime Location: Situated in an established residential neighborhood near downtown, schools, parks, and major employers.
- Desirable Amenities: Offers off‑street parking and on‑site laundry.
- Upside Potential: Opportunity for increased income through unit improvements and operational efficiencies.
Overview
This 9-unit multifamily property is located in Montevideo, benefiting from a stable rental market supported by consistent local employment, limited new multifamily construction, and steady demand for workforce housing. Montevideo serves as the county seat of Chippewa County and functions as a regional hub for healthcare, education, manufacturing, and agricultural services, supporting long-term rental stability. The property is situated within an established residential neighborhood near downtown amenities, schools, parks, and major local employers, enhancing tenant retention and broad rental appeal. Access to paved city streets, sidewalks, and public utilities further supports ease of operation and long-term asset durability. The local market favors well-maintained, mid-sized multifamily assets, particularly those offering off-street parking, on-site laundry, and a diversified unit mix. With limited competing inventory and historically low vacancy rates for comparable properties, multifamily assets in Montevideo continue to attract investors seeking predictable cash flow in a secondary market with lower volatility than larger metros. The property's current performance at approximately a 7 +% cap rate, combined with its location, unit mix, and operational features, positions it favorably for investors targeting stabilized income with potential upside through continued unit improvements and operational efficiencies. The property size is 8619 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Wildwood Apartments
Housing Complex
Location Insight
- Map
- Local Demand
- City
- Montevideo
- County
- Chippewa
- State
- Minnesota
- Longitude
- -95.7209224
- Latitude
- 44.9469341
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Nine-unit multifamily property in Montevideo's stable rental market.
Where is this apartment building located?
The property is located at 215 S 5th St Montevideo, MN.
What is the asking price?
The asking price for this property is $924,900.
What are key features of this property?
This property features: High Cap Rate: Approximately 7+% cap rate indicates strong current income.; Stable Rental Market: Montevideo's diverse economy ensures consistent demand.; Limited Competition: Low vacancy rates and limited competing inventory in Montevideo.
