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520 S 2nd St 2 Unit Apartment Building Offered at $703,500 CAD at a 8.98% Cap Rate Mankato, MN 56001

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Investment Highlights

Off Campus Student Housing on the bus line
A+ walking score - bars, restaurants, groceries, entertainment, professional services, everything downtown

Four streams of income $$$ Apartments/outdoor parking spaces/garage

Executive Summary

CONTRACT for DEED considered. Price and all terms negotiable. LOCATED IN AN OPPORTUNITY ZONE. ZONED CBDF-central business district fringe. Bring in all offers. Control this property for a flexible low down payment and easy terms. Zoned for commercial or residential use. Rented parking spaces ($365/month), Rented garage ($200/month). Nine bedrooms, four bathrooms.

Financial Summary (Pro Forma - 2026)	Annual (CAD)	Annual Per SF (CAD)
Gross Rental Income	$100,629	$28.55
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$100,629	$28.55
Taxes	$7,612	$2.16
Operating Expenses	$29,617	$8.40
Total Expenses	$37,229	$10.56
Net Operating Income	$63,399	$17.99

Financial Summary (Pro Forma - 2026)

Gross Rental Income (CAD)
Annual	$100,629
Annual Per SF	$28.55

Other Income (CAD)
Annual	-
Annual Per SF	-

Vacancy Loss (CAD)
Annual	-
Annual Per SF	-

Effective Gross Income (CAD)
Annual	$100,629
Annual Per SF	$28.55

Taxes (CAD)
Annual	$7,612
Annual Per SF	$2.16

Operating Expenses (CAD)
Annual	$29,617
Annual Per SF	$8.40

Total Expenses (CAD)
Annual	$37,229
Annual Per SF	$10.56

Net Operating Income (CAD)
Annual	$63,399
Annual Per SF	$17.99

Property Facts

Price	$703,500 CAD	Property Type	Multifamily Multifamily Dormitory
Price Per Unit	$351,750 CAD	Lot Size	0.23 AC
Sale Type	Investment	Building Size	3,833 SF
Cap Rate	8.98%	Average Occupancy	100%
Sale Conditions	1031 Exchange High Vacancy Property	No. Stories	2
Gross Rent Multiplier	7.9	Year Built/Renovated	1884/2004
No. Units	2	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	Comm./Multi Family res. - In Mankato's revitalized downtown business district, zoned CBDF. Commercial Business District Fringe. 1/2 block from the Walgreen' redevelopment site.

Price	$703,500 CAD
Price Per Unit	$351,750 CAD
Sale Type	Investment
Cap Rate	8.98%
Sale Conditions	1031 Exchange High Vacancy Property
Gross Rent Multiplier	7.9
No. Units	2
Property Type	Multifamily Multifamily Dormitory
Lot Size	0.23 AC
Building Size	3,833 SF
Average Occupancy	100%
No. Stories	2
Year Built/Renovated	1884/2004
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	Comm./Multi Family res. - In Mankato's revitalized downtown business district, zoned CBDF. Commercial Business District Fringe. 1/2 block from the Walgreen' redevelopment site.

Unit Mix Information

Description	No. Units	Avg. Rent/Mo	SF
5+3	1	$4,221 CAD	2,275
4+1	1	$3,377 CAD	1,453

1 1

Moderately walkable

60/100

Exceptionally drivable

100/100

Limited public transit

30/100

Moderately bikeable

70/100

Source: Local Logic^®

Property Taxes

Parcel Number	R01-09-18-106-027	Total Assessment	$577,651 CAD
Land Assessment	$47,760 CAD	Annual Taxes	$7,612 CAD ($1.99 CAD/SF)
Improvements Assessment	$529,891 CAD	Tax Year	2026