224 Main Street E, Norwood Young America, MN

$875,000

7,000

Square feet

0.14

Acres

About 224 Main Street E

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.

Features of 224 Main Street E

MLS® # 6699747
Price $875,000
Square Footage 7,000
Acres 0.14
Year Built 1911
Type Commercial
Sub-Type Apartment Building
Style Apartment
Status Active
Contingency Type None

Community Information

Address 224 Main Street E
Subdivision City Lts Of Young America
City Norwood Young America
County Carver
State MN
Zip Code 55397

Amenities

Amenities Coin-op Laundry Owned
Garages Gravel, Guest Parking, Paved
Is Waterfront No
Has Pool No

Interior

Appliances Gas Water Heater, Microwave, Range, Refrigerator, Stainless Steel Appliances
Heating Baseboard, Radiator(s)
Cooling Window Unit(s)
Fireplace No
Has Basement No

Exterior

Lot Description Corner Lot, Some Trees, Underground Utilities, Zero Lot Line
Roof Age 8 Years or Less
Construction Vinyl Siding

School Information

District Central

Additional Information

Zoning Business/Commercial
Foreclosure No
Short Sale No
Taxes $8,768
Tax Year 2025
Office Bridge Realty, LLC

Listing Details

OfficeBridge Realty, LLC

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