Blue Earth, MN 56013

New Listing
$1,225,000
Property Type: Commercial Square Footage: 15,000 Lot Size (sq. ft.): 41,818 Status: Active
Current Price: $1,225,000 List Date: 6/21/2026 Last Modified: 6/21/2026

Overview

Description

Village Green Apartments is a superior chance to acquire a value-add opportunity in southern Minnesota close to the Iowa border. The unit mix offers fourteen two-bedroom and ten one-bedroom all with one bathroom. The property consists of three 8-plexes and is situated on a 0.97-acre corner lot right across the street from Putnam Park with tennis courts and community swimming pool. Includes on-site coin laundry facilities in each building, newer water heaters, and plenty of off-street parking! This one has huge potential by organically raising rents to market while improving the operating expenses to quickly increase its value! Built in 1979-1980, this very well-maintained building features a mix of one and two-bedroom units all with one bathroom, providing a variety of options for potential renters. Additionally, the property includes a spacious parking lot with 34 separate parking spaces, ensuring that tenants have ample space to park their vehicles. The exterior of the property ...

Listing Details MLS# 7096552

General Property Information

Lot Measurement
Acres
Management Company Name
Self-Managed
Multiple PIDs?
No
Other Parking Spaces
34
Owner Occupied
No
Waterfront YN
No
Year Built
1979
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
7500
For Sale or Lease
For Sale
Acres
0.96
Lot Dimensions
Irregular
Assessment Pending
No
Garage Stalls
0

Property Features

Accessible: None Air Conditioning: Wall Unit(s) Appliances: Range; Refrigerator Assumable Loan: Not Assumable Basement: None CMU Style: Apartments/Multi Family Construction Materials: Block; Frame Construction Status: Previously Owned Current Use: Residential Existing Financing: Conventional Exterior: Vinyl Fencing: None Flooring: Carpet; Tile; Vinyl/Linoleum Foundation: Slab Fuel: Electric; Natural Gas Heating: Baseboard; Boiler Loan Terms: Cash; Conventional Lot Description: Corner Lot; Irregular Lot; Tree Coverage - Light On Site Utilities: Electric Separate; Heating Common; Heating Separate; Hot Water Common Owner Pays: Fuel; Insurance; Lawn; Lawn; Maintenance/Repair; Sewer; Snow Removal; Taxes; Trash Collection; Water Parking Characteristics: Paved Lot Pool Description: None Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age 8 Years or Less; Asphalt Shingles; Pitched Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity; Heat Topography: Level Wall Description: Drywall Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
1225000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

Postal City
Blue Earth
County
Faribault
State
MN
Zip Code
56013
Complex/Dev/Subdivision
Sunnyside Add

Assessments

Tax With Assessments
19714
Assessment Balance
0
Assessment Installment
0

Building Information

Building Finished SqFt
15000
Building SqFt
15000
Ceiling Height
8-10

More Information

Income and Expenses

Annual Caretaker Expense
8466
Annual Electric Expense
2000
Annual Fuel Expense
9000
Annual Gross Expenses
78228
Annual Gross Income
169331
Annual Insurance Expense
11000
Annual Net Income
91103
Annual Repair Expense
7200
Annual Trash Expense
4500
Annual Water/Sewer Expense
10148
Total Annual Expenses
78228

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
27
Section#
17
Township#
102

Sale Options

Sale Includes
Building, Business, Land, Leases, Rental License

Unit 1

No. of 1 Bedroom Units
10

Unit 2

No. of 2 Bedroom Units
14

Unit Details

Total Units
24

Office/Member Info

Association
SPAAR

Location, Tax and Other Information

Legal Description
SECT-17 TWP-102 RANGE-027 SUNNYSIDE ADDITION .96 AC TR COM NE COR OUTLOT 1 WLY 187.5' SLY TO PT 150'N OF S LI ELY 187.5' NLY TO BEG & E93.75' OF S150' OF OUTLOT 1
Listing City
Blue Earth
Map Page
999
Municipality
Blue Earth
School District
Blue Earth Area Schools
School District Phone
507-526-3188
Property ID Number
215771320
Tax Year
2026
Tax Amount
19714
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
Village Green Apartments is a superior chance to acquire a value-add opportunity in southern Minnesota close to the Iowa border. The unit mix offers fourteen two-bedroom and ten one-bedroom all with one bathroom. The property consists of three 8-plexes and is situated on a 0.97-acre corner lot right across the street from Putnam Park with tennis courts and community swimming pool. Includes on-site coin laundry facilities in each building, newer water heaters, and plenty of off-street parking! This one has huge potential by organically raising rents to market while improving the operating expenses to quickly increase its value! Built in 1979-1980, this very well-maintained building features a mix of one and two-bedroom units all with one bathroom, providing a variety of options for potential renters. Additionally, the property includes a spacious parking lot with 34 separate parking spaces, ensuring that tenants have ample space to park their vehicles. The exterior of the property is well-maintained and features a classic brick façade with vinyl siding, while the interior of the units are spacious and have updated appliances. The property is conveniently located near major highways and the downtown area, making it easy for tenants to enjoy all that Blue Earth has to offer. Investors looking for a value-add opportunity with strong cash flow potential will appreciate the low maintenance costs and high rental demand in the area. Don't miss out on this rare opportunity to own a property that is super clean and well maintained and also in a non-rent controlled city of Minnesota!
Directions
south of town / across the street from the city splashed and tennis courts

Accessible

None
Yes

Air Conditioning

Wall Unit(s)
Yes

Appliances

Range
Yes
Refrigerator
Yes

Assumable Loan

Not Assumable
Yes

Basement

None
Yes

Construction Materials

Block
Yes
Frame
Yes

Construction Status

Previously Owned
Yes

Existing Financing

Conventional
Yes

Exterior

Vinyl
Yes

Fencing

None
Yes

Flooring

Carpet
Yes
Tile
Yes
Vinyl/Linoleum
Yes

Foundation

Slab
Yes

Fuel

Electric
Yes
Natural Gas
Yes

Heating

Baseboard
Yes
Boiler
Yes

Lot Description

Corner Lot
Yes
Irregular Lot
Yes
Tree Coverage - Light
Yes

Owner Pays

Fuel
Yes
Insurance
Yes
Lawn
Yes
Maintenance/Repair
Yes
Sewer
Yes
Snow Removal
Yes
Taxes
Yes
Trash Collection
Yes
Water
Yes

Parking Characteristics

Paved Lot
Yes

Pool Description

None
Yes

Rental License Type

Standard
Yes

Road Frontage

City Street
Yes

Road Responsibility

Public Maintained Road
Yes

Roof

Age 8 Years or Less
Yes
Asphalt Shingles
Yes
Pitched
Yes

Sewer

City Sewer/Connected
Yes

Stories

Two
Yes

Topography

Level
Yes

Wall Description

Drywall
Yes

Water

City Water/Connected
Yes

No. of Ranges

One Per Unit
Yes

No. of Refrigerators

One Per Unit
Yes

Tenant Pays

Electricity
Yes
Heat
Yes

On Site Utilities

Electric Separate
Yes
Heating Common
Yes
Heating Separate
Yes
Hot Water Common
Yes

CMU Style

Apartments/Multi Family
Yes

Current Use

Residential
Yes

Loan Terms

Cash
Yes
Conventional
Yes

Documents

IDX
Listing Office: Apartment Cash Flow, Inc.
Last Updated: June - 21 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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