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Seize this rare opportunity to own a well-maintained, income-producing 15-plex in the heart of Mahnomen. Located just off Highway 59 at 403 N 5th St, this property features a strong unit mix of 1 one-bedroom, 8 two-bedroom, and 6 three-bedroom apartments—designed to meet the needs of a broad tenant base in the area. Each unit is thoughtfully laid out for comfortable living, and the property includes 15 single-stall garages, offering added convenience and value for tenants. Whether you're a seasoned investor or expanding your portfolio, this asset presents stable cash flow with upside. A key recent improvement includes a new roof installed approximately 2 years ago, offering peace of mind and reducing near-term capital expenses for investors Bonus Development Opportunity: Situated on a 1.57 acre lot, the property also includes a buildable area behind the garages, ideal for constructing another multifamily building or adding amenities to increase future income potential (subject to city approval). Located just off Highway 59, this property enjoys easy access to downtown Mahnomen, local employers, schools, and essential services.PROPERTY FEATURES
PROPERTY DETAILS
Street Address: 403 5th Street
City: Mahnomen
State: Minnesota
Postal Code: 56557
County: Mahnomen
MLS Number: 6741796
Year Built: 1992
Courtesy of eXp Realty (3523 FGO)
City: Mahnomen
State: Minnesota
Postal Code: 56557
County: Mahnomen
MLS Number: 6741796
Year Built: 1992
Courtesy of eXp Realty (3523 FGO)
Courtesy of eXp Realty (3523 FGO)
