NOT LISTED FOR SALE

408 State St Mankato, MN 56001

Liberty Park Neighborhood
35 Beds
23 Baths
20,964 Sq Ft
1 Acres

Last Sold April 20, 2022

Last sale price $2,250,000 $107 Per Sq Ft

Highlights

  • 1 Acre Lot
  • Corner Lot
  • Central Air
  • Jefferson Elementary School Rated A
  • Landscaped
  • Water Softener is Owned

About This Home

As of April 2022

Excellent Investment Opportunity! Updated 23 unit apartment building, 12 - 2 bedroom units and 11 - 1 bedroom units, fully occupied and GREAT rental history. Security building with on-site coin operated laundry, individual storage closets and off street parking. The majority of the units have been updated with new paint, flooring, bathroom and kitchen updates. Common areas have new carpet and paint. New boiler in 2020, updated boiler lines to individual apartments, newer windows. Parking lot was seal coated last fall. Professional managed. Owner is a licensed real estate agent.

Last Agent to Sell the Property

Christa Wolner

Connect Real Estate Group Listed on: 03/10/2022

Last Buyer's Agent

Michael Danberry

REALTY EXECUTIVES ASSOCIATES License #40722239

REALTY EXECUTIVES ASSOCIATES

Property Details

Home Type

  • Apartment

Year Built

  • 1966

Lot Details

  • 1 Acre Lot
  • Landscaped
  • Corner Lot

Home Design

  • Brick Exterior Construction
  • Frame Construction
  • Rubber Roof
  • Metal Siding
  • Concrete Block And Stucco Construction

Interior Spaces

  • 20,964 Sq Ft Home
  • 3-Story Property
  • Range

Bedrooms and Bathrooms

  • 35 Bedrooms
  • 23 Bathrooms

Finished Basement

  • Basement Fills Entire Space Under The House
  • Block Basement Construction

Parking

  • Driveway
  • Off-Street Parking

Location

  • Ground Level

Utilities

  • Central Air
  • Cooling System Mounted In Outer Wall Opening
  • Boiler Heating System
  • Gas Water Heater
  • Water Softener is Owned

Community Details

  • 23 Units
  • Gross Income $209,000

Listing and Financial Details

  • Tenant pays for broadband, cable TV, electric
  • The owner pays for fuel, janitorial, lawn, maint/repair, snow, trash, water/sewer
  • Assessor Parcel Number R01.08.13.258.014

Property Details

Home Type

Apartment

Year Built

1966

Lot Details

0

Listing Details

  • Class: MULTI-FAMILY
  • Style: Apartment Building (L)
  • Assessment Balance: 115
  • Assessments: Yes
  • Construction: Previously Owned
  • Foundation Size: 6898
  • L V T Date: 03/10/2022
  • Mechanicals: Water Heater - Gas, Water Softner - Owned
  • Parcel Number: R01.08.13.258.014
  • Price Per Square Foot: 107.33
  • Projected Closed Date: 05/13/2022
  • Rental License: Yes
  • Stories: 3 Story
  • Street Designation: Street
  • Taxes With Assessments: 16860
  • Estimated Number of Acres: 1
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1966

Interior Features

  • Appliances: Range/Stove, Refrigerator
  • Total Bedrooms: 35
  • Total Bathrooms: 23
  • Basement Features: Finished
  • Basement Material: Concrete Block
  • Basement Style: Full
  • Finished Above Grade Sq Ft: 20964
  • Total Fin Square Footage: 20964
  • Total Square Footage: 20964

Exterior Features

  • Construction Type: Concrete Block, Frame/Wood
  • Exterior: Brick, Metal
  • Roof: Rubber
  • Exterior Amenities: Driveway - Asphalt

Garage/Parking

  • Number Off Street Parking: 25

Utilities

  • Fuel: Natural Gas
  • Heat: Boiler
  • Sewer: City
  • Water: City

Schools

  • School District: Mankato #77

Lot Info

  • Lot/Land Description: Corner Lot, Landscaped
  • Estimated Lot Dimensions: 43,560

Rental Info

  • Owner Expense: Fuel, Janitorial, Lawn, Maint/Repair, Snow, Trash, Water/Sewer
  • Tenant Expense: Broadband, Cable TV, Electric
  • Type of Tenancy: One Year Lease

Multi Family

  • Total Units Available: 23
  • Est Annual Gross Expense: 97000
  • Est Annual Gross Income: 209000

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/20/2022 04/20/22 Sold $2,250,000 +18.4% $107 / Sq Ft
03/14/2022 03/14/22 Pending -- -- --
03/10/2022 03/10/22 For Sale $1,900,000 +11.8% $91 / Sq Ft
01/10/2020 01/10/20 Sold $1,700,000 -8.1% $82 / Sq Ft
11/19/2019 11/19/19 Pending -- -- --
11/15/2019 11/15/19 For Sale $1,850,000 -- $89 / Sq Ft
Source: REALTOR® Association of Southern Minnesota

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Christa Wolner

    Seller's Agent in 2022

    Christa Wolner

    Connect Real Estate Group

    (507) 327-6300

    2 in this area

    89 Total Sales

    Christa Wolner
    Section Image
  • Michael Danberry

    Buyer's Agent in 2022

    Michael Danberry

    Realty Executives

    (507) 676-3950

    1 in this area

    118 Total Sales

    Michael Danberry
    Section Image

  • T

    Seller's Agent in 2020

    TAMARA MULLIGAN

    TRUE REAL ESTATE

    Section Image

  • N

    Buyer's Agent in 2020

    Non Member

    Non-Member

See All Agents

Map

Source: REALTOR® Association of Southern Minnesota

MLS Number: 7029189

REALTOR® Association of Southern Minnesota
Minnesota Blue Earth County Mankato 56001 Liberty Park

408 State St, Mankato, MN

This home is located at 408 State St, Mankato, MN 56001 since 10 March 2022. This property was built in 1966. 408 State St is a home located in Blue Earth County with nearby schools including Jefferson Elementary School, Dakota Meadows Middle School, and Mankato West Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

REALTOR® Association of Southern Minnesota IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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