UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Aud Sub Pt Glots 3 & 4
MLS Listing ID 6746668
Year Built 1948
Annual Tax Amount $10,538
Tax Year 2025
Contingent None
Lot Size 2.040 Acres
Acres 2.04
Lot Dimensions 410x206x176x490x29x48
Property Sub-Type Apartment
Property Description
Seize this rare opportunity to own a 30-unit apartment building situated on the shores of Lake Winona in the heart of Alexandria, MN. This commercial property offers lakefront views and endless potential for real estate investors looking to build equity through strategic improvements or a bold redevelopment.
Property Highlights:
Unbeatable Location: Nestled in-town with direct access to Lake Winona, offering stunning water views and a serene setting that tenants will love.
30 Units with Growth Potential: Increase occupancy and revenue through targeted upgrades or reimagine the property entirely with a new development to maximize its value.
Investor's Dream: Perfect for those ready to invest sweat equity into a property with immense upside. Whether you renovate the existing structure or start fresh, this lakefront gem is brimming with possibilities.
Prime Redevelopment Opportunity: The expansive lot and prime location make this property ideal for a visionary redevelopment project, capitalizing on Alexandria's growing demand for modern housing.
Central Accessibility: Located in the heart of Alexandria, close to local amenities, shopping, dining, and recreational activities, making it highly desirable for tenants.
Why Invest Here?
This Lake Winona property is a rare find, combining a sought-after in-town location with the natural beauty of lakefront living. With the potential to boost occupancy, modernize units, or redevelop the site, this is an unparalleled opportunity to create significant equity in a thriving market. Alexandria's vibrant community and growing economy make this an ideal investment for those looking to capitalize on a property with both immediate cash flow potential and long-term development prospects. Contact us today to schedule a viewing or request more details!
Location
State MN
County Douglas
Zoning Residential-Multi-Family
Body of Water Winona
Interior
Heating Baseboard
Cooling Wall Unit(s)
Inclusions Building, Land, Leases
Fireplace No
Exterior
Parking Features Parking Lot, Paved
Garage Spaces 1.0
Utilities Available None
Waterfront Description Lake Front
Roof Type Asphalt
Present Use Commercial
Building
Story One
Foundation 9960
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories One
Structure Type Wood Siding
Schools
School District Alexandria