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Norwood Young America,MN 55397
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision City Lts Of Young America
MLS Listing ID 6699747
Year Built 1911
Annual Tax Amount $8,768
Tax Year 2025
Lot Size 6,098 Sqft
Property Sub-Type Apartment
Property Description
This property was built in 1911 with many recent improvements including a new roof in 2019 & all 6 units renovated in the last 3 years. One building features 6 two-bedroom apartments with the other building featuring one retail property, currently the laundromat is owned by the Landlord. The two-parcel offering includes ample Class IV gravel off-street parking in the rear of each respective building. Each unit is separately metered for gas and electric, making expenses relatively low for this investment. The residential building has new boilers (2025). The property has a strong rental history and is 100% occupied.
The landlord has successfully renovated all units along with rent increases per year of 7%-10% since purchasing the building in 2020, making this acquisition a solid-performing asset in a growing community with little to no competition.
Location
State MN
County Carver
Zoning Business/Commercial
Interior
Heating Baseboard,Radiator(s)
Cooling Window Unit(s)
Inclusions Building,Business Assets,Business,Fixture/Equipment,Inventory,Land,Leases
Exterior
Parking Features Gravel,Guest Parking,Paved
Utilities Available Electric Separate,Heating Separate
Roof Type Age 8 Years or Less
Building
Lot Description Corner Lot,Some Trees,Underground Utilities,Zero Lot Line
Story Two
Foundation 6800
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Vinyl Siding
Schools
School District Central