305 N Van Buren AVE Springfield, MN 56087
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,400 sqft
Price per Sqft $125
Subdivision Van Dusen Add
MLS Listing ID 7129280
Bedrooms 6
Year Built 1970
Annual Tax Amount $3,010
Tax Year 2025
Contingent None
Lot Size 0.351 Acres
Lot Dimensions 100 X 153
Property Sub-Type Fourplex
Property Description
The property features two one-bedroom apartments and two two-bedroom apartments, with all four units currently occupied, providing an established income stream from day one.
A major advantage of this property is the four detached garage stalls. With thoughtful restructuring of the garage spaces and a review of how the garage and rental spaces are utilized, there is substantial upside potential to increase monthly revenue. A new owner may have the opportunity to better allocate or separately rent garage space and make adjustments to the existing rental structure, creating additional income beyond what the current rates are.
The property also includes coin-operated laundry, providing a convenient amenity for tenants and another source of potential income. Situated on a corner lot, the property offers good access, visibility, and off-street parking.
This is an attractive opportunity for an investor looking for a property with existing occupancy and cash flow today, while still offering room to improve and increase revenue over time. The combination of four rental units, four detached garage stalls, on-site laundry, and potential for restructuring makes this a property with both stability and upside.
Location
State MN
County Brown
Zoning Residential-Multi-Family
Rooms
Basement Finished
Interior
Heating Baseboard, Boiler
Fireplace No
Laundry In Basement, Common Area, Lower Level, Laundry Room
Exterior
Parking Features Detached Garage, Gravel, Multiple Garages, Parking Lot
Garage Spaces 4.0
Fence None
Pool None
Roof Type Asphalt
Building
Lot Description Corner Lot, Tree Coverage - Light
Story Split Entry (Bi-Level)
Foundation 2400
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Split Entry (Bi-Level)
Structure Type Block,Brick
New Construction false
Schools
School District Springfield
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