215 S 5th Street, Montevideo, MN 56265 (MLS# 7009752)

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 10
Owner Occupied: No
Waterfront Present: No
Year Built: 1910
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 1622
Garage Stalls: 3
For Sale or Lease: For Sale
Acres: 0.52
Lot Dimensions: 200x105x108x22x92x127
Assessment Pending: Unknown

Property Features

Accessible: None Amenities Shared: Coin-op Laundry Owned Appliances: Dishwasher; Dryer; Microwave; Range; Refrigerator; Washer Assumable Loan: Not Assumable CMU Style: Apartments/Multi Family Construction Materials: Frame Construction Status: Previously Owned Current Use: Residential Existing Financing: Other Exterior: Brick/Stone Fencing: Chain Link; Full Flooring: Carpet; Vinyl/Linoleum; Wood Foundation: Brick/Mortar; Stone; See Remarks Fuel: Natural Gas Heating: Boiler Loan Terms: Cash; Conventional Location Description: Free Standing Lock Box Type: None Lot Description: Tree Coverage - Light; Underground Utilities On Site Utilities: Electric Common; Heating Common; Hot Water Common Owner Pays: All Utilities; See Remarks Parking Characteristics: Garage Door Opener; Paved Lot Pool Description: None Rent Rate per Foot: Gross Road Frontage: City Street; Curbs; Paved Streets; Sidewalks; Street Lights Road Responsibility: Public Maintained Road Roof: Architectural Shingle Sewer: City Sewer/Connected Stories: Three Or More Tenant Pays: See Remarks Wall Description: Finished Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 899900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 215
Street Direction Prefix: S
Street Name: 5th
Street Suffix: Street
Postal City: Montevideo
County: Chippewa
State: MN
Zip Code: 56265
Complex/Dev/Subdivision: Montevideo

Assessments

Assessment Balance: 8392
Tax With Assessments: 3066

Building Information

Building Finished SqFt: 6797
Building SqFt: 8619
Ceiling Height: 8-10

More Information

Income and Expenses

Annual Gross Expenses: 26290
Annual Gross Income: 98645
Annual Net Income: 72355

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building, Inventory, Rental License

Unit 1

No. of 1 Bedroom Units: 5

Unit 2

No. of 2 Bedroom Units: 4

Unit Details

Total Units: 9

Office/Member Info

Association: WCAR

Location, Tax and Other Information

Legal Description: FRINKS 1ST ADDITION 3, 4, 5 & 6 BLOCK 7 EX W 22 FT OF LOT S 5 & 6 & W 22 FT OF S 8FT LOT 4
Listing City: Montevideo
Map Page: 999
Municipality: Montevideo
School District: Montevideo
School District Phone: 320-269-8833
Zip Plus 4: 1503
Property ID Number: 703750320
Tax Year: 2025
Tax Amount: 8392
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Rare opportunity to acquire a well-maintained 9-unit multifamily property featuring two separate buildings on one parcel. The main turn-of-the-century home offers seven units and retains much of its original historic charm, blending character with modern updates. A second building provides an additional two units, creating a versatile unit mix. Most units have been renovated, offering updated interiors while preserving classic architectural details. Property amenities include on-site coin laundry, a three-car garage, ample off-street parking, and a fenced yard with outdoor features. The property offers a strong 7% cap rate, making it an attractive option for investors seeking stable income. The combination of historic appeal, functional updates, and on-site amenities contributes to long-term value and broad rental appeal.
Directions: From Hwy 7 turn south on 5th St., and the home will be on your right about 8 blocks south.

Accessible

None: Yes

Amenities Shared

Coin-op Laundry Owned: Yes

Appliances

Dishwasher: Yes
Dryer: Yes
Microwave: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Assumable Loan

Not Assumable: Yes

Construction Materials

Frame: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Other: Yes

Exterior

Brick/Stone: Yes

Fencing

Chain Link: Yes
Full: Yes

Flooring

Carpet: Yes
Vinyl/Linoleum: Yes
Wood: Yes

Foundation

Brick/Mortar: Yes
Stone: Yes
See Remarks: Yes

Fuel

Natural Gas: Yes

Heating

Boiler: Yes

Lock Box Type

None: Yes

Lot Description

Tree Coverage - Light: Yes
Underground Utilities: Yes

Owner Pays

All Utilities: Yes
See Remarks: Yes

Parking Characteristics

Garage Door Opener: Yes
Paved Lot: Yes

Patio, Porch and Deck Features

Covered: Yes
Front Porch: Yes

Pool Description

None: Yes

Road Frontage

City Street: Yes
Curbs: Yes
Paved Streets: Yes
Sidewalks: Yes
Street Lights: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Architectural Shingle: Yes

Sewer

City Sewer/Connected: Yes

Stories

Three Or More: Yes

Wall Description

Finished: Yes

Water

City Water/Connected: Yes

No. of Ranges

One: Yes

No. of Refrigerators

One: Yes

Tenant Pays

See Remarks: Yes

On Site Utilities

Electric Common: Yes
Heating Common: Yes
Hot Water Common: Yes

CMU Style

Apartments/Multi Family: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Location Description

Free Standing: Yes

Rent Rate per Foot

Gross: Yes