Current Use by Public Records
- Apartment buildings
Property Details for 605 Main St
- Year built
- 1928
- Lot size
- 0.12 lot acres
- Property type
- Apartment buildings
Description
This exceptional eight-unit apartment building, located at 605 N Main Street in Austin, Minnesota, presents a compelling investment opportunity. Boasting 5,360 square feet on a 0.12-acre lot, this property enjoys a highly desirable location directly on Main Street, offering unparalleled convenience and visibility. Its proximity to the public pool, Main Street's vibrant restaurants and shops, and the scenic walking/biking trail encircling the lake ensures strong tenant demand and high occupancy rates. Seven of the eight units are currently leased, generating a consistent stream of rental income. The property underwent an appraisal last year, valuing it at $490,000, significantly exceeding the current asking price of $425,000. This presents a rare chance to acquire a well-maintained, high-performing multi-family property in a thriving community. The strong rental history and prime location make this an ideal addition to any investment portfolio, whether you're a seasoned investor looking to expand or a first-time buyer seeking a profitable venture. This is a turnkey opportunity not to be missed. The property's strategic location and proven rental income make it a sound investment with significant potential for future growth and appreciation.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Austin
- County
- Mower
- State
- Minnesota
- Longitude
- -92.975
- Latitude
- 43.6709
