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    1806 Lincoln Ave Montevideo, MN 56265

    Sponsored
    For Sale
    $499,000

    10-Bedroom Multifamily Investment Opportunity

    Property size:
    5,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 5,800 square foot, Class D apartment building in Montevideo, Minnesota, presents a unique investment opportunity. Built in 1980, the property sits on a 25,216 square foot lot and is priced at $499,000 ($86.03/sq ft). Currently configured as a former group home, the building features ten bedrooms, two full kitchens, two living rooms, and four bathrooms. Each wing boasts five bedrooms, and the common areas include carpeted gathering rooms with fireplaces and built-in features. An on-site office adds to the functionality. The property includes a common laundry area with machines, a fenced area with raised garden beds, and some common area furniture is included in the sale. The interior features vinyl, plank, and carpet flooring throughout. Restrooms have supplemental heat, and there's a step-in soaking tub and a handicap-accessible one-piece walk-in shower enclosure. The building is equipped with a fire sprinkler system for enhanced safety. Its adaptable layout makes it suitable for various uses, including a group home or shared living arrangement. This property offers significant potential for a savvy investor seeking a multifamily asset in a desirable Minnesota location. The address is 1806 Lincoln Ave, Montevideo, MN 56265.

    Property Features for 1806 Lincoln Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    5,800 SF
    Class
    D

    Building Details

    Year Built
    1980
    Units
    2

    HighLights

    • Furnished common areas.
    • Shared laundry facilities with provided machines.
    • Fenced yard with raised garden beds.
    • Two full kitchens.
    • Community rooms with built‑in features.
    • Vinyl plank and carpet flooring.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Montevideo
    County
    Chippewa
    State
    Minnesota
    Longitude
    -95.7046728
    Latitude
    44.9467742

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    FAQs

    What type of property is this?
    Multifamily property - 10-Bedroom Multifamily Investment Opportunity
    Where is this multifamily property located?
    The property is located at 1806 Lincoln Ave Montevideo, MN.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Furnished common areas.; Shared laundry facilities with provided machines.; Fenced yard with raised garden beds.
    Request Owner's contact information
    1806 Lincoln Ave Montevideo, MN 56265
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    Montevideo, MN 56265
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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
    1806 Lincoln Ave Montevideo, MN 56265
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