305 N Van Buren Avenue , Springfield, MN 56087

Property Description

Excellent investment opportunity in Springfield, Minnesota! This well-maintained four-unit apartment building offers a strong combination of current rental income, multiple unit configurations, garage space, and significant potential for increased revenue.The property features two one-bedroom apartments and two two-bedroom apartments, with all four units currently occupied. Current rental income is $2,930 per month, providing an established income stream from day one.A major advantage of this property is the four detached garage stalls. With thoughtful restructuring of the garage spaces and a review of how the garage and rental spaces are utilized, there is substantial upside potential to increase monthly revenue. A new owner may have the opportunity to better allocate or separately rent garage space and make adjustments to the existing rental structure, creating additional income beyond the current $2,930 per month.The property also includes coin-operated laundry, providing a convenient amenity for tenants and another source of potential income. Situated on a corner lot, the property offers good access, visibility, and off-street parking.This is an attractive opportunity for an investor looking for a property with existing occupancy and cash flow today, while still offering room to improve and increase revenue over time. The combination of four rental units, four detached garage stalls, on-site laundry, and potential for restructuring makes this a property with both stability and upside.Property Highlights:Four-unit apartment building2 one-bedroom units2 two-bedroom unitsAll four units currently occupied$2,930/month current rental incomeFour detached garage stallsPotential to increase revenue through garage restructuring and rental adjustmentsCoin-operated laundryCorner lotWell-maintained propertyEstablished rental incomeStrong opportunity for future income growthCurrent income with additional upside ? a great opportunity for an investor looking to add value and increase the property's earning potential.