Current Use by Public Records
- City Centre Apartments / Apartment Building
Property Details for 109 Luverne St
- Year built
- 1925
- Lot size
- 2.22 lot acres
- Property type
- Apartment buildings
Description
This exceptional 33-unit apartment building presents a compelling investment opportunity in the heart of Luverne, Minnesota. Originally a schoolhouse, this meticulously renovated property boasts 75,000 square feet across three stories and sits on a 2.218-acre lot. The building, constructed in 1925 and classified as Class B, offers a mix of one, two, and three-bedroom units, each contributing to a strong per-unit price of $57,272.73. The asking price for the entire complex is $1,890,000, translating to a price per square foot of $25.20. Residents enjoy convenient access to a full-court gymnasium, a spacious outdoor yard, a community room perfect for gatherings, a shared coin laundry, and elevator service. Its prime location near restaurants, shops, businesses, Luverne City Park, and the Rock River ensures high occupancy rates and strong rental demand. The property is zoned for residential multi-family use, providing stability and future development potential. Buyer financing is available. This is a rare chance to acquire a well-maintained, income-producing asset in a desirable Minnesota location. The building's history and unique amenities create a highly attractive living environment, promising a strong return on investment.
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
- Luverne
- County
- Rock
- State
- Minnesota
- Longitude
- -96.2086
- Latitude
- 43.6568
