221 Freemont Avenue SE, Hutchinson, MN 55350

Overview

Description

Welcome to 221 & 231 Freemont Ave SE in Hutchinson! This exceptional multifamily property features 24 fully rented units, making it a fantastic investment opportunity for any savvy buyer. Ideally situated in a prime, highly rentable location, this property boasts an extremely low vacancy rate, ensuring consistent cash flow and reliable returns. The units are beautifully furnished, providing tenants with a comfortable living experience that encourages long-term occupancy. The property is supported by phenomenal property management, with the current management team potentially willing to stay on for a smooth transition, offering peace of mind to the new owner. Don’t miss out on this rare opportunity to acquire a well-maintained asset in a thriving market. Whether you're an experienced investor or looking to expand your portfolio, 221 & 231 Freemont Ave SE is a must-see!

General Property Information

Lot Measurement: Acres
Multiple PIDs?: Yes
Other Parking Spaces: 50
Year Built: 1984
Yearly/Seasonal: Yearly
Zoning: Business/Commercial, Residential-Multi-Family
Foundation Size: 3956
For Sale or Lease: For Sale
Acres: 5.2
Lot Dimensions: 183x250
Garage Stalls: 0

Property Features

Accessible: Hallways 42"+ Air Conditioning: Wall Unit(s) Amenities Shared: Coin-op Laundry Owned CMU Style: Apartments/Multi Family Construction Status: Previously Owned Current Use: Residential Exterior: Metal; Vinyl Financing Terms: Trade Foundation: Concrete Block Fuel: Electric; Natural Gas Heating: Hot Water On Site Utilities: Electric Separate; Heating Common; Hot Water Common Owner Pays: Common Area Maintenance; Heat; Hot Water; Insurance; Janitorial Service; Janitorial Service; Lawn; Lawn; Maintenance/Repair; Management; Pest Control; Repairs; Sewer; Taxes; Trash Collection; Water Parking Characteristics: Parking Lot Sewer: City Sewer/Connected Water: City Water/Connected

Contract Information

Off Market Date: 2025-07-01
Closed Date: 2025-06-30
Sales Close Price: 2180000
Contingency: None
ListPrice: 2400000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 221
Street Name: Freemont
Street Suffix: Avenue
Street Direction Suffix: SE
Postal City: Hutchinson
County: McLeod
State: MN
Zip Code: 55350
Complex/Dev/Subdivision: Cedar Acres Sub

Additional Parcels Information

Property ID #2: 232140110

Assessments

Tax With Assessments: 12450
Assessment Balance: 0

More Information

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building, Land

Unit 1

No. of 1 Bedroom Units: 2

Unit 2

No. of 2 Bedroom Units: 22

Unit Details

Total Units: 24

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: CEDAR ACRES SUB LOT-009 BLOCK-002
Listing City: Hutchinson
Map Page: 999
Municipality: Hutchinson
School District: Hutchinson
School District Phone: 320-587-2860
Zip Plus 4: 1756
Property ID Number: 232140100
Tax Year: 2024
Tax Amount: 12450
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Welcome to 221 & 231 Freemont Ave SE in Hutchinson! This exceptional multifamily property features 24 fully rented units, making it a fantastic investment opportunity for any savvy buyer. Ideally situated in a prime, highly rentable location, this property boasts an extremely low vacancy rate, ensuring consistent cash flow and reliable returns. The units are beautifully furnished, providing tenants with a comfortable living experience that encourages long-term occupancy. The property is supported by phenomenal property management, with the current management team potentially willing to stay on for a smooth transition, offering peace of mind to the new owner. Don’t miss out on this rare opportunity to acquire a well-maintained asset in a thriving market. Whether you're an experienced investor or looking to expand your portfolio, 221 & 231 Freemont Ave SE is a must-see!
Directions: Hwy 15 South, Right on Freemont to cul-de-sac

Accessible

Hallways 42"+: Yes

Air Conditioning

Wall Unit(s): Yes

Amenities Shared

Coin-op Laundry Owned: Yes

Construction Status

Previously Owned: Yes

Exterior

Metal: Yes
Vinyl: Yes

Financing Terms

Trade: Yes

Foundation

Concrete Block: Yes

Fuel

Electric: Yes
Natural Gas: Yes

Heating

Hot Water: Yes

Owner Pays

Common Area Maintenance: Yes
Heat: Yes
Hot Water: Yes
Insurance: Yes
Janitorial Service: Yes
Lawn: Yes
Maintenance/Repair: Yes
Management: Yes
Pest Control: Yes
Repairs: Yes
Sewer: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Parking Characteristics

Parking Lot: Yes

Sewer

City Sewer/Connected: Yes

Water

City Water/Connected: Yes

On Site Utilities

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

CMU Style

Apartments/Multi Family: Yes

Current Use

Residential: Yes