, Luverne, MN 56156 (MLS# 7104049)
$1,750,000
MLS# 7104049
75000 sqft
1 / 36
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.
Details
Contract Information
Status: Active
Current Price: 1750000
Contingency: None
ListPrice: 1750000
List Date: 2026-07-06
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1925
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 25000
For Sale or Lease: For Sale
Acres: 2.21
Lot Dimensions: 339x284x339x284
Assessment Pending: Unknown
Location Tax and Other Information
Postal City: Luverne
County: Rock
State: MN
Zip Code: 56156
Complex/Dev/Subdivision: City Center Condo Inc Cic #13
Assessments
Tax With Assessments: 16266
Building Information
Building Finished SqFt: 75000
Building SqFt: 75000
Income and Expenses
Annual Gross Expenses: 150930
Annual Gross Income: 332040
Annual Net Income: 181110
Total Annual Expenses: 150930
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Sale Options
Sale Includes: Building, Fixture/Equipment
Unit 1
No. of 1 Bedroom Units: 5
Unit 2
No. of 2 Bedroom Units: 22
Unit 3
No. of 3 Bedroom Units: 4
Unit Details
Total Units: 32
Property Features
Accessible: Accessible Elevator Installed; Hallways 42"+; Wheelchair Ramp
Air Conditioning: Central Air
Amenities Shared: Coin-op Laundry Owned; Concrete Floors & Walls; Elevator(s); Fire Sprinkler System; In-Ground Sprinkler System; Security Building; Other
Amenities Unit: Ceiling Fan(s); Indoor Sprinklers; Main Floor Primary Bedroom
Appliances: Dishwasher; Range; Refrigerator
CMU Style: Apartments/Multi Family; Low Rise
Construction Status: Previously Owned
Current Use: Residential
Exterior: Brick/Stone
Foundation: Concrete Block
Fuel: Electric
Heating: Baseboard
Loan Terms: Cash; Special Funding
Lot Description: Corner Lot; Tree Coverage - Light
Miscellaneous Information: Building Sign
On Site Utilities: Electric Separate; Heating Separate
Owner Pays: Lawn; Lawn; Maintenance/Repair; Snow Removal
Parking Characteristics: Parking Lot; Paved Lot
Pool Description: None
Potential Use: Other
Road Frontage: City Street; Curbs; Paved Streets; Sidewalks; Street Lights
Road Responsibility: Public Maintained Road
Roof: Flat; Rubber; Tar/Gravel
Sewer: City Sewer/Connected
Shared Rooms: Other
Stories: Three Or More
Tenant Pays: Broadband; Electricity
Water: City Water/Connected
Listing Office: RE/MAX Advantage Plus
Last Updated: July - 07 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
Wednesday 8th of July 2026 05:07 AM
218-998-4400
Mohagen Real Estate
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