For Sale: Luverne MLS# 7104049
Active
NEW!
$1,750,000
Commercial: Other
Built 1925
2.217 acres
Luverne schools
MLS# 7104049
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Property Description
A rare investment opportunity in the heart of Luverne! City Centre is a well-maintained 32-unit condominium complex housed in a beautifully repurposed historic school building, offering a unique blend of character and modern living. Residents enjoy shared amenities including a full-size gymnasium, community room, spacious outdoor green space, coin-operated laundry, and elevator access. The complex offers a mix of 1, 2, and 3-bedroom units, creating broad rental appeal. Ideally located within walking distance of restaurants, shopping, local businesses, Luverne City Park, and the Rock River, this property is positioned for convenience and long-term value. Buyer financing is available, making this a standout investment opportunity.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,750,000
Property Type:
Commercial
City:
Luverne
Garage Spaces:
0
County:
Rock
Year Built:
1925
State:
MN
Property Style:
Other
Zip Code:
56156
Subdivision Name:
City Center Condo Inc Cic #13
Interior
Appliances Included:
- Dishwasher
- Range
- Refrigerator
- Stainless Steel Appliances
Exterior
Stories:
Three Or More
Garage Spaces:
0
Air Conditioning:
Central Air
Foundation Size:
25,000 ft2
Handicap Accessible:
Accessible Elevator Installed, Hallways 42"+, Wheelchair Ramp(s)
Road Responsibility:
Public Maintained Road
Heating System:
Baseboard
Parking Features:
- Parking Lot
- Paved Lot
Unit Amenities:
- Ceiling Fan(s)
- Indoor Sprinklers
- Main Floor Primary Bedroom
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Sidewalks
- Street Lights
Pool:
None
Roof Details:
- Flat
- Rubber
- Tar/Gravel
Rooms
Shared Rooms:
Other
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
2.217
Geolocation:
43.656746, -96.208628
Inclusions:
Building, Fixture/Equipment
Lot Dimensions:
339 x 284 x 339 x 284
Zoning:
Residential-Multi-Family
Lot Description:
- Corner Lot
- Tree Coverage - Light
Schools
School District:
2184
District Phone:
5072838088
Expenses
Tenant Expenses:
Broadband, Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$16,266
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$16,266
Income
Annual Gross Income:
$332,040
Rent
Annual Net Income:
$181,110
Units
Total Units:
32
Unit Number:
Units 101-336
Miscellaneous
Current Use:
Residential
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of RE/MAX Advantage Plus.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.