For Sale: Luverne MLS# 6578414
Active
$1,790,000
Commercial: Apartment,Low Rise
Built 1925
2.22 acres
Luverne schools
MLS# 6578414
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Property Description
Discover the City Centre condominium complex, a prime 33-unit complex in the vibrant heart of Luverne! Once an original school building, this property has been masterfully transformed into distinctive residential units, complete with a full court gymnasium for recreation year-round. The well-maintained building features a spacious outdoor yard, a community room for events and gatherings, a shared coin laundry room and elevator access to upper floors. Offering a variety of 1, 2, and 3-bedroom units, this property is an attractive investment. Buyer financing is available. Located conveniently near restaurants, shops, businesses, Luverne City Park and the Rock River, this is an opportunity you don’t want to miss!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,790,000
Property Type:
Commercial
City:
Luverne
County:
Rock
Year Built:
1925
State:
MN
Property Style:
Apartment, Low Rise
Zip Code:
56156
Subdivision Name:
City Center Condo Inc Cic #13
Interior
Appliances Included:
- Dishwasher
- Range
- Refrigerator
- Stainless Steel Appliances
Exterior
Stories:
Three Or More
Other Parking Spaces:
0
Air Conditioning:
Central Air
Foundation Size:
25,000 ft2
Handicap Accessible:
Accessible Elevator Installed, Hallways 42"+, Wheelchair Ramp(s)
Road Responsibility:
Public Maintained Road
Heating System:
Baseboard
Parking Features:
- Parking Lot
- Paved
Shared Amenities:
- Coin-op Laundry Owned
- Concrete Floors & Walls
- Elevator(s)
- Fire Sprinkler System
- In-Ground Sprinkler System
- Other
- Security
Unit Amenities:
- Ceiling Fan(s)
- Indoor Sprinklers
- Main Floor Primary Bedroom
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Sidewalks
- Street Lights
Exterior Material:
Brick/Stone
Roof Details:
- Flat
- Rubber
- Tar/Gravel
Rooms
Shared Rooms:
Other
Lot & Land
Acres:
2.22
Geolocation:
43.656746, -96.208628
Inclusions:
Building, Fixture/Equipment
Lot Dimensions:
339 x 284 x 339 x 284
Zoning:
Residential-Multi-Family
Lot Description:
- Corner Lot
- Tree Coverage - Light
Schools
School District:
2184
District Phone:
507-283-8088
Expenses
Annual Gross Expense:
$135,192
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$18,480
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$18,480
Income
Annual Gross Income:
$303,660
Rent
Annual Net Income:
$168,468
Units
Total Units:
33
Unit Number:
Units 101-337
Miscellaneous
Current Use:
Residential
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
Water System:
City Water/Connected
Mortgage Calculator
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This amortization schedule shows how much of your monthly payment will go towards the principle and how
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| Month | Principal | Interest | P&I | Balance |
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| Year | Principal | Interest | P&I | Balance |
Local Home Mortgage Professionals
651-253-2144
Jason & Kim Stone
Branch Manager & Co-Branch Manager
Fairway Mortgage NMLS#1018649
Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
It would be our pleasure to assist you with your home purchase!
Listing provided by RMLS,
courtesy of RE/MAX Advantage Plus.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.