For Sale: Olivia MLS# 7018242
Active
NEW!
$864,900
Commercial: 2 Stories
49 br • 49 ba • Built 1993
3.82 acres
Colfax schools
MLS# 7018242
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
49 total apartment units. 48 one bedroom units, one 2 bedroom unit. 4 buildings total. Three 16 unit buildings. The fourth building includes office , community room and two bedroom apartment. On linear pond to the South. Plenty of off parking. Brand new electric panels in all four buildings. Common laundry rooms in each building. Wall ACs. Close to parks and playground. Two sheds included. Possibly room on property for community gardens. *property needs updating approximately half the units are vacant. A couple+ are gutted.
**Affordable housing under a Section 8 contract, that the buyers will need to get 2530 Clearance with HUD- HUD contract til 2035** Sold As is
Gross rent is Pro-Forma
3 Roofs in the last 8 -10 years. All the electric panels plus -basically brand new. Conveniently located in town of Olivia.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$864,900
Property Type:
Commercial
City:
Olivia
Garage Spaces:
0
County:
Renville
Year Built:
1993
State:
MN
Property Style:
2 Stories
Zip Code:
56277
Interior
Bedrooms:
49
Bathrooms:
49
Flooring:
Carpet, See Remarks, Vinyl
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
None
Exterior
Stories:
Two
Garage Spaces:
0
Air Conditioning:
Wall Unit(s)
Foundation Size:
11,000 ft2
Fencing:
None
Handicap Accessible:
Partially Wheelchair
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Radiant
Parking Features:
- Asphalt
- Open
- Parking Lot
- Unassigned
Unit Amenities:
- Other
- Panoramic View
- Unspecified
Road Frontage:
- City Street
- Paved Streets
Pool:
None
Roof Details:
- Age 8 Years or Less
- Asphalt
- Pitched
Rooms
Shared Rooms:
- Amusement/Party Room
- Community Room
- Other
Lake & Waterfront
Waterfront View:
South
Waterfront:
Pond
Lot & Land
Acres:
3.82
Geolocation:
44.771738, -94.996632
Inclusions:
Building, Fixture/Equipment, Land, Leases, Other
Lot Dimensions:
369 x 448 x 371 x 449
Zoning:
Residential-Multi-Family
Lot Description:
- Property Adjoins Public Land
- Tree Coverage - Medium
Farm
Topography:
Level
Schools
School District:
1176
District Phone:
3205231031
Expenses
Tenant Expenses:
Other
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$3,728
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$3,728
Income
Annual Gross Income:
$360,000
Rent
Annual Net Income:
$125,488
Units
Total Units:
49
Miscellaneous
Current Use:
Residential
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
Power Company Name:
Other
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
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 Lentsch Company.
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.