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$ 310,000
Est. payment /mo
New
403 2nd ST NW Austin, MN 55912
1 Bed
4 Baths
3,833 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 3,833 sqft
Price per Sqft $80
Subdivision Davidson
MLS Listing ID 7160383
Bedrooms 1
Year Built 1900
Annual Tax Amount $2,272
Tax Year 2026
Contingent None
Lot Size 5,357 Sqft
Lot Dimensions 53x101
Property Sub-Type Apartment
Property Description
A compelling investment opportunity in the heart of Austin, this multifamily property offers four conforming units, one nonconforming unit, and additional upside for an investor with a vision. The property features four one-bedroom units, each with a bonus room, along with a fifth unit offering two bedrooms and a bonus room. Four units are currently rented at $650 per month, while the fifth unit is vacant, presenting an opportunity to secure a new tenant or explore alternative uses. The unfinished third level offers further potential for expansion, subject to applicable approvals, with possibilities for additional living space or future rental units. Rich in character and offering a flexible layout, the property presents an opportunity to reposition an established income-producing asset, evaluate rental rates, and pursue improvements over time. Centrally located in Austin, with convenient access to local businesses, services, and community amenities, this multifamily property offers investors an opportunity to build on existing income while exploring its longer-term potential.
Location
State MN
County Mower
Zoning Residential-Multi-Family
Rooms
Basement Partial
Interior
Heating Forced Air
Fireplace No
Exterior
Parking Features Gravel, Other
Building
Story Two
Foundation 1916
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
New Construction false
Schools
School District Austin
Listed by Mike Wilen • Coldwell Banker Realty - Lakes