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Windom Rivers 1955 1st Ave N 37 Unit Apartment Building For Sale Windom, MN 56101
Executive Summary
Affordable housing investment opportunity featuring a thoughtfully converted motel comprised of 37 apartment units across three buildings. Originally constructed in 2000 and extensively renovated in 2020, the property offers modernized interiors with updated kitchens, bathrooms, and durable vinyl plank flooring throughout. The complex includes 10 detached garages, 4 storage lockers, an on-site leasing office, laundry facility, and dedicated mail room, providing residents with convenient amenities and strong operational functionality. This asset benefits from an existing property tax abatement, enhancing cash flow and long-term investment performance. Positioned in a community experiencing a significant housing shortage, the property fulfills an important affordable housing need while offering stable occupancy potential and strong rental demand.
Property Facts
| Sale Type | Investment | Lot Size | 3.76 AC |
| No. Units | 37 | Building Size | 33,164 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 2021 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | B |
| Sale Type | Investment |
| No. Units | 37 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 3.76 AC |
| Building Size | 33,164 SF |
| No. Stories | 1 |
| Year Built | 2021 |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Oven
- Range
- Tub/Shower
- Pantry
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 37 | - | 500 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,893,667 CAD | |
| Land Assessment | $199,988 CAD | Total Assessment | $3,093,655 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$199,988 CAD
Improvements Assessment
$2,893,667 CAD
Total Assessment
$3,093,655 CAD
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Photos
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Windom Rivers | 1955 1st Ave N
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