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City Centre Condos Units 101-336 109 E Luverne St 32 Unit Apartment Building $1,750,000 ($54,688/Unit) Luverne, MN 56156
INVESTMENT HIGHLIGHTS
- Unique renovated school building
- Shared laundry, basketball court & community room
- Updated units
EXECUTIVE SUMMARY
Discover the City Centre condominium complex, a prime 32-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!
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $1,750,000 | Building Class | C |
| Price Per Unit | $54,688 | Lot Size | 2.21 AC |
| Sale Type | Investment | Building Size | 75,000 SF |
| No. Units | 32 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1925/2000 |
| Property Subtype | Apartment | Parking Ratio | 2.56/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | D - Downtown | ||
| Price | $1,750,000 |
| Price Per Unit | $54,688 |
| Sale Type | Investment |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.21 AC |
| Building Size | 75,000 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1925/2000 |
| Parking Ratio | 2.56/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | D - Downtown |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Storage Space
- Kitchen
- Refrigerator
- Oven
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Basketball Court
- Elevator
- Multi Use Room
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1655 | $860.00 | 744 - 984 |
| 1+1 | 1005 | $770.00 | 734 - 1,057 |
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PROPERTY TAXES
| Parcel Number | 20-1697-000 | Improvements Assessment | $132,800 (2025) |
| Land Assessment | $7,200 (2025) | Total Assessment | $140,000 (2025) |
PROPERTY TAXES
Parcel Number
20-1697-000
Land Assessment
$7,200 (2025)
Improvements Assessment
$132,800 (2025)
Total Assessment
$140,000 (2025)
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City Centre Condos Units 101-336 | 109 E Luverne St
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