500 S 13th Street, Olivia, MN 56277

Property Description

49 total apartment units. 48 one bedroom units, one 2 bedroom unit. 4 buildings total. Three 16 unit buildings. The fourth building includes office , community room and two bedroom apartment. On linear pond to the South. Plenty of off parking. Brand new electric panels in all four buildings. Common laundry rooms in each building. Wall ACs. Close to parks and playground. Two sheds included. Possibly room on property for community gardens. *property needs updating approximately half the units are vacant. A couple+ are gutted. **Affordable housing under a Section 8 contract, that the buyers will need to get 2530 Clearance with HUD- HUD contract til 2035** Sold As is- many units need major repairs. Community building needs roofing. Gross rent is Pro-Forma 3 Roofs in the last 8 -10 years. All the electric panels plus -basically brand new. Conveniently located in town of Olivia.