Current Use by Public Records
- Lincoln St. Apartments / Apartment Building
Property Details for 124 Lincoln St
- Year built
- 1939
- Lot size
- 0.19 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a portfolio of two properties in Caledonia, Minnesota. The main asset is a five-unit apartment building at 124 E Lincoln St, situated just across from Gazebo Park. This two-story building, constructed in 1939, offers 2,880 square feet of living space, with each unit priced at $89,800. The portfolio also includes a second property, located one block away at 102-120 Kingston St, in Caledonia's central business district. This building features four retail spaces and ten additional apartments, with two commercial spaces currently under long-term leases. The entire portfolio is priced at $449,000, representing a price per square foot of $155.90. The 0.187-acre lot provides ample space. The properties benefit from various financial incentives, including an EDA Revolving Loan Fund for commercial rehabilitation (facade improvements), tax abatements, and tax increment financing. The proximity to major employers such as Mayo Clinic, John Deere, Kwik Trip, Dollar General, Houston County Courthouse, Miken, Rud Trucking, and Sno Pac Foods, along with its convenient location near La Crosse, Wisconsin (25 minutes away), makes this a compelling investment with strong rental potential. This is a rare opportunity to acquire a well-positioned multifamily portfolio in a thriving community.
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
- Caledonia
- County
- Houston
- State
- Minnesota
- Longitude
- -91.496
- Latitude
- 43.6353
