Johnson Ave Waseca, MN 56093
- Residential income homes
- 40,075 SF
- 0.92 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 0 Johnson Ave
- Lot size
- 0.92 lot acres
- Property size
- 40,075 SF
- Property type
- Residential income homes
- Property subtype
- Apartment buildings
Description
This exceptional 0.92-acre lot in Waseca, Minnesota, presents a compelling multifamily investment opportunity. Located conveniently across from University Park, this site offers easy access to recreational amenities and green spaces, enhancing the quality of life for future residents. The property's proximity to a four-lane highway ensures convenient commuting to nearby cities like Mankato and Owatonna. Addressing a significant local housing shortage, this vacant land is zoned for multi-family use with local government support. The site boasts a total area of 40,075 square feet and is priced at $64,900, or $1.62 per square foot. The adjacent property, Parkview Estates, a 38-unit apartment building, further underscores the area's strong rental market. This development site presents a unique chance to create a thriving apartment community, catering to a diverse range of residents. The asking price reflects a price per unit of $2,704.17, based on a potential 24-unit development. The property's address is Johnson Ave SW, Waseca, MN 56093, and the APN is 170182520. This is an owner/user investment opportunity with significant potential for return. The site's strategic location and the existing housing demand make this a truly attractive proposition for developers seeking to capitalize on a growing market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waseca
- County
- Waseca
- State
- Minnesota
- Longitude
- -93.5119
- Latitude
- 44.0696
