123 N 4th Street, Mankato, MN 56001

$2,100,000
Property Type: Commercial Lot Size (sq. ft.): 10,454 Status: Active
Current Price: $2,100,000 List Date: 4/07/2026 Last Modified: 4/17/2026

Overview

Description

28-unit apartment building investment opportunity! This property features 19 one-bedroom units, 3 two-bedroomunits, and 6 studio apartments. Recent improvements include new windows, updated flooring, fresh paint, new doors,tiled hallways, on site laundry area, and select units with upgraded kitchen cabinetry and countertops. While manyupdates have been completed, the property still offers additional renovation opportunities for a new owner to furtherenhance value and increase rents. With the ability to update remaining units and place your own tenants, this is anideal opportunity for investors looking to customize management and maximize returns. Located within walkingdistance to downtown amenities and public transit.

Listing Details MLS# 7049981

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Waterfront Present
No
Year Built
1926
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
5412
For Sale or Lease
For Sale
Acres
0.24
Lot Dimensions
158x67
Assessment Pending
No
Other Parking Spaces
0
Garage Stalls
0

Property Features

Accessible: None CMU Style: Apartments/Multi Family Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone Foundation: Concrete Block Fuel: Natural Gas Heating: Boiler Lock Box Type: None On Site Utilities: Electric Separate Sewer: City Sewer/Connected Stories: Three Or More Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
2100000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
123
Street Direction Prefix
N
Street Name
4th
Street Suffix
Street
Postal City
Mankato
County
Blue Earth
State
MN
Zip Code
56001
Complex/Dev/Subdivision
Mankato

Assessments

Assessment Balance
6510.88
Tax With Assessments
30574
Assessment Installment
0

Building Information

Building Finished SqFt
21648

More Information

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Sale Options

Sale Includes
Building

Unit Details

Total Units
28

Office/Member Info

Association
SEMR

Location, Tax and Other Information

Legal Description
CITY OF MANKATO 002 048 00
Listing City
Mankato
Map Page
999
Municipality
Mankato
School District
Mankato
School District Phone
507-387-1868
Property ID Number
R010918203004
Tax Year
2026
Tax Amount
24063.12
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
28-unit apartment building investment opportunity! This property features 19 one-bedroom units, 3 two-bedroomunits, and 6 studio apartments. Recent improvements include new windows, updated flooring, fresh paint, new doors,tiled hallways, on site laundry area, and select units with upgraded kitchen cabinetry and countertops. While manyupdates have been completed, the property still offers additional renovation opportunities for a new owner to furtherenhance value and increase rents. With the ability to update remaining units and place your own tenants, this is anideal opportunity for investors looking to customize management and maximize returns. Located within walkingdistance to downtown amenities and public transit.
Directions
Madison Ave to N Fourth Street, Apartment complex on the left.

Accessible

None
Yes

Construction Status

Previously Owned
Yes

Exterior

Brick/Stone
Yes

Foundation

Concrete Block
Yes

Fuel

Natural Gas
Yes

Heating

Boiler
Yes

Lock Box Type

None
Yes

Sewer

City Sewer/Connected
Yes

Stories

Three Or More
Yes

Water

City Water/Connected
Yes

On Site Utilities

Electric Separate
Yes

CMU Style

Apartments/Multi Family
Yes

Current Use

Residential
Yes
Listing Office: Keller Williams Premier Realty
IDX
Last Updated: April - 17 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.