414 Allan Avenue, North Mankato

Property Description

This 12 unit apartment building in Upper North Mankato offers easy access to Highways 14 &169 and is just a few blocks from South Central Technical College. There are 11 two bedroom units and 1 one bedroom unit, 22 off street parking stalls and one detached garage currently used for tenants to store bikes, grills etc. Current owners have never had trouble keeping the apartments fully rented, as all units are month to month leases, but most renters have found security in that option and have generally been long term tenants. Current owner acknowledges that rents are lower than they could be, and would fully expect new owner to raise the rents to their liking. NOTEWORTHY ITEMS: Brick Building with new metal siding and new roof in 2013 [pitched and slopes to all four sides], driveway repair in 2013, appliances and flooring have always been replaced when needed, wall A/C units in all apartments, 12 electrical meters, 2 owned water softeners, 2 fifty gallon water heaters and coin operated washers and dryers. Owners pay for Hot Water Heat, Water/Sewer, Garbage and Laundry room & Hallway electricity. Tenants pay individual electric, cable and others. [see attached property snapshot for financials] Call to schedule a tour today - 24 hours notice is preferred.