Listed By
Agency Name: Kemp Real Estate
Agency Phone: 507-828-6696
Shown By
Agent Name: Bill Lieb
Agent Phone: (763) 360-0878
Agency Title: Counselor Realty
Property Description
Excellent investment opportunity in Springfield, Minnesota! This well-maintained four-unit apartment building offers a strong combination of current rental income, multiple unit configurations, garage space, and significant potential for increased revenue.The property features two one-bedroom apartments and two two-bedroom apartments, with all four units currently occupied. Current rental income is $2,930 per month, providing an established income stream from day one.A major advantage of this property is the four detached garage stalls. With thoughtful restructuring of the garage spaces and a review of how the garage and rental spaces are utilized, there is substantial upside potential to increase monthly revenue. A new owner may have the opportunity to better allocate or separately rent garage space and make adjustments to the existing rental structure, creating additional income beyond the current $2,930 per month.The property also includes coin-operated laundry, providing a convenient amenity for tenants and another source of potential income. Situated on a corner lot, the property offers good access, visibility, and off-street parking.This is an attractive opportunity for an investor looking for a property with existing occupancy and cash flow today, while still offering room to improve and increase revenue over time. The combination of four rental units, four detached garage stalls, on-site laundry, and potential for restructuring makes this a property with both stability and upside.Property Highlights:Four-unit apartment building2 one-bedroom units2 two-bedroom unitsAll four units currently occupied$2,930/month current rental incomeFour detached garage stallsPotential to increase revenue through garage restructuring and rental adjustmentsCoin-operated laundryCorner lotWell-maintained propertyEstablished rental incomeStrong opportunity for future income growthCurrent income with additional upside ? a great opportunity for an investor looking to add value and increase the property's earning potential.
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305 N Van Buren Avenue , Springfield, MN 56087
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$ 1,935.06 per month $1,596.73 Principal & Interest $250.83 Property Tax $87.50 Homeowner's InsuranceChange Payment Information
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305 N Van Buren Avenue , Springfield, MN 56087
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Agency License Information: Counselor Realty, Inc. is licensed in Minnesota and Wisconsin; Counselor Realty, Inc. of Alexandria is licensed in Minnesota; Counselor Realty Detroit Lakes, LLC is licensed in Minnesota; Counselor Realty of Rochester is licensed in Minnesota; Counselor Realty of Victoria, LLC is licensed in Minnesota; Counselor Realty of Brainerd is licensed in Minnesota.
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305 N Van Buren Avenue | MLS# 7129280
This multi-family property located at 305 N Van Buren Avenue , Springfield, MN 56087 is currently listed for sale with an asking price of $300,000. N Van Buren Avenue is located within the Springfield school district. Search Springfield real estate on blieb.counselorrealty.com today.