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810 S Broad Street, Mankato, Minnesota

$675,0002 Beds1 BathActive

810 S Broad Street, Mankato, Minnesota 56001
- MLS® ID: 7016077

Property Details

810 S Broad Street, Mankato, Minnesota 56001 - Now for sale is The Rose House, built in 1897. It was owned by Dickinson L. Rose who was a local real estate agent and inventor. It is located in the Historic Lincoln Park District and is itself also on the National Register of Historic Places. The house was a victim of a fire a few years ago and has been brought back to life by Josh Kelley, a local developer. Because of its French Renaissance-inspired design it is an unusual member of the Lincoln Park District. The exterior is original and is built of reddish-brown pressed brick with smooth, yellow limestone trim. It overlooks Lincoln Park. Aside from the foundation and brick exterior, everything else is new. There are 5 apartment units. 3 of the units contain 2 bedrooms; one of the units is a 1 bedroom, and one studio unit. This is a rare opportunity for a buyer to own a piece of history that produces income. Rental income projections are as follows: Studio$850 1 Bedroom$850 2 Bedroom$1,100 2 Bedroom$1,200 2 Bedroom$1,275 Total$5,275 per month $63,300 per year Operating Expenses $15,825 NOI $47,475 Price $675,000.00 Cap Rate 7%

Amenities

  • Zip56001
  • CountyBlue Earth
  • Bedrooms2
  • Full baths1.00
  • StatusActive
  • Purchase TypeActive
  • Property typeCommercial
  • School districtMankato #77
  • Year built1891
  • WaterfrontNo
  • SewerCity
  • HeatingForced Air
  • Tax amount$538.52
  • Tax year2017
  • MLS® ID7016077

Listing Courtesy of CENTURY 21 LANDMARK REALTORS

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