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Key Details
Sold Price $620,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 7018242
Sold Date 06/30/26
Bedrooms 49
Year Built 1993
Annual Tax Amount $3,728
Tax Year 2025
Contingent None
Lot Size 3.820 Acres
Lot Dimensions 369x448x371x449
Property Description
49 total apartment units. 48 one bedroom units, one 2 bedroom unit. 4 buildings total. Three 16 unit buildings. The fourth building includes office , community room and two bedroom apartment. On linear pond to the South. Plenty of off parking. Brand new electric panels in all four buildings. Common laundry rooms in each building. Wall ACs. Close to parks and playground. Two sheds included. Possibly room on property for community gardens. *property needs updating approximately half the units are vacant. A couple+ are gutted.
**Affordable housing under a Section 8 contract, that the buyers will need to get 2530 Clearance with HUD- HUD contract til 2035** Sold As is- many units need major repairs. Community building needs roofing.
Gross rent is Pro-Forma
3 Roofs in the last 8 -10 years. All the electric panels plus -basically brand new. Conveniently located in town of Olivia.
Location
State MN
County Renville
Zoning Residential-Multi-Family
Rooms
Family Room Amusement/Party Room, Community Room, Other
Basement None
Interior
Heating Baseboard, Radiant
Cooling Wall Unit(s)
Flooring Carpet, See Remarks, Vinyl
Fireplace No
Appliance Range, Refrigerator
Exterior
Parking Features Asphalt, Parking Lot, Unassigned, Open
Fence None
Pool None
Utilities Available Electric Common, Heating Common, Hot Water Common
Waterfront Description Pond
View Y/N South
View South
Roof Type Age 8 Years or Less,Asphalt,Pitched
Present Use Residential
Road Frontage N
Building
Lot Description Property Adjoins Public Land, Tree Coverage - Medium
Story Two
Foundation 11000
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
New Construction false
Schools
School District Bird Island-Olivia-Lake Lillian
Others
Special Listing Condition Short Sale
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