For Sale: Austin MLS# 7042144
Active
$324,990
Multi-family: Triplex
5 br • 3 ba • Built 1959
2,208 sqft • 0.14 acres
MLS# 7042144
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Property Description
This is your chance to own a fully leased, income generating triplex on high-visibility Oakland Ave, one of the busiest and best located streets in Austin, MN. With strong current rents totaling $3750/month, plus untapped potential for additional $200+ monthly garage rental and coin operated laundry, this property is a cash flow machine for day one. The building features 3 units- one fully renovated 1 bed/1 bath (previously an office), and two spacious 2 bed/1 bath units. Tenants love the location and layout, and leases are solid. Recent updates include a newer roof (under 2 years old), insuring low maintenance for years to come. Whether you're looking to add a strong performer to your portfolio or get started in multi-family investing, this property delivers stable income, location appeal, and future upside.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$324,990
Price per sq ft:
$147
Property Type:
Multi-family
City:
Austin
Garage Spaces:
2
County:
Mower
Year Built:
1959
State:
MN
Property Style:
Triplex
Zip Code:
55912
Subdivision Name:
Yates & Lewis
Interior
Bedrooms:
5
Bathrooms:
3
Finished Area:
2,208 ft2
Living Area:
2,208 ft2
Basement Details:
- Block
- Crawl Space
Exterior
Stories:
Two
Garage Spaces:
2
Garage Size:
480 ft2
Foundation Size:
1,560 ft2
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
- Concrete
- Detached Garage
Road Frontage:
City Street
Roof Details:
Age 8 Years or Less
Rooms
Laundry:
In Basement
Lot & Land
Acres:
0.14
Geolocation:
43.666859, -92.988413
Lot Dimensions:
95 x 135
Zoning:
Residential-Multi-Family
Lot Description:
Corner Lot
Schools
School District:
1825
District Phone:
5074601900
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$4,000
Annual Maintenance Expense:
None
Annual Trash Expense:
$407
Annual Water/Sewer Expense:
None
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$2,328
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$2,464
Income
Annual Gross Income:
$45,000
Rent
Annual Net Income:
$28,492
Units
Total Units:
3
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Re/Max Results.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.