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$250,000
Est. payment /mo
3,049 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 6577677
Year Built 1902
Annual Tax Amount $2,018
Tax Year 2024
Contingent None
Lot Size 3,049 Sqft
Acres 0.07
Lot Dimensions 130x75
Property Description
Welcome to 501 Euclid Avenue! Discover a rare opportunity to own a unique multi-family property on the main street of Milroy, conveniently located across from the local gas station and fitness center. This property spans two parcels and features four rental units, including a stunning historic brick building—originally the city's bank—now transformed into a charming apartment complex with three distinct rental units.
Originally renovated starting in 2010, the building received a new foundation and a durable flat rubber membrane roof before being fully converted into rental spaces (roof has been recoated in 2023 - ready for years to come!). It includes a one-bedroom apartment, a two-bedroom apartment, and a studio-style unit, all designed with high ceilings, open living spaces, and preserved architectural details that exude historic charm. The apartment building is fully electric, powered by an updated geothermal system for efficient heating and cooling. Energy-efficient windows were custom-designed to maintain the building's original aesthetic while enhancing comfort.
Additionally, the property includes a completely renovated trailer home (2023), adding even more investment potential. The property has been well-loved and meticulously maintained. Whether you're looking for a strong investment opportunity or a piece of local history, this property is a must-see!
Originally renovated starting in 2010, the building received a new foundation and a durable flat rubber membrane roof before being fully converted into rental spaces (roof has been recoated in 2023 - ready for years to come!). It includes a one-bedroom apartment, a two-bedroom apartment, and a studio-style unit, all designed with high ceilings, open living spaces, and preserved architectural details that exude historic charm. The apartment building is fully electric, powered by an updated geothermal system for efficient heating and cooling. Energy-efficient windows were custom-designed to maintain the building's original aesthetic while enhancing comfort.
Additionally, the property includes a completely renovated trailer home (2023), adding even more investment potential. The property has been well-loved and meticulously maintained. Whether you're looking for a strong investment opportunity or a piece of local history, this property is a must-see!
Location
State MN
County Redwood
Zoning Residential-Multi-Family
Rooms
Basement Full
Interior
Heating Geothermal
Cooling Window Unit(s)
Inclusions Building, Leases
Fireplace No
Exterior
Parking Features On-Street Parking Only
Utilities Available Electric Common, Electric Separate, Heating Common, Hot Water Common
Roof Type Flat,Rubber
Present Use Residential
Building
Lot Description Corner Lot
Story Two
Foundation 1112
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Brick/Stone,Metal Siding
Schools
School District Milroy
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Listed by Troy Deutz • Edina Realty, Inc.
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