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Lake City, MN 55041

$619,900

View from East 2nd Mobile Home Rental.JPG

Property Type: Commercial Bedrooms: 9 Baths: 5 Square Footage: 1,268 Lot Size (sq. ft.): 569,329 Status: Pending

Current Price: $619,900 List Date: 1/01/2026 Last Modified: 6/20/2026

Overview

Description

Start 2026 with an Exceptional Investment Opportunity! This versatile 13-acre income-producing property features four residential rental units along with 37+ storage units, offering an excellent rental history and strong, consistent income potential. This property is ideal for investors seeking both stability and growth. Residential unit 1 & 2: Up/down duplex with separate entrances. Main floor unit is 2 bed, 1 bath and has approximately 1028 SQFT of living space. Laundry in unit. Upper level unit has 1 bed, 1 bath, laundry hookups and is approximately 480 SQFT of living space. Residential unit 3: 3 bed, 1 bath mobile home that offers approximately 980 SQFT of living space. Laundry in-unit. Residential unit 4: 3 bed, 2 bath mobile home that offers 1216 SQFT of living space. Laundry in-unit. Private driveway access. STORAGE East building (old hog barn): consist of 18 10x20 cold storage units. Separate driveway access from residential units. Red barn: 10 cold storage units. Separate ... (Read more)

Listing Details MLS# 7003667

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 6
Owner Occupied: No
Waterfront YN: No
Year Built: 1900
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 1028
Garage Stalls: 4
For Sale or Lease: For Sale
Acres: 13.07
Lot Dimensions: 876x646x876x646
Assessment Pending: No

Property Features

Accessible: None Air Conditioning: Window Unit(s) Amenities Unit: Washer/Dryer Hookup Appliances: Dryer; Range; Refrigerator; Washer Assumable Loan: Not Assumable Basement: Unfinished CMU Style: Duplex Up and Down; Mixed Use; Other; Storage Unit Construction Materials: Frame; Stone Construction Status: Previously Owned Current Use: Residential; Storage Facility Exterior: Vinyl Fencing: Privacy; Other Foundation: Stone Fuel: Propane Heating: Forced Air Loan Terms: Cash; Conventional Location Description: Other/See Remarks Lot Description: Suitable for Horses; Tree Coverage - Medium Miscellaneous Information: Kitchen Facilities; Out Buildings On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate Owner Pays: Grounds Care; Insurance; Maintenance/Repair; Taxes Potential Use: Diversified; Manufactured Home; Other Rent Rate per Foot: Per Month Road Frontage: Township Road Responsibility: Public Maintained Road Roof: Asphalt Shingles Sewer: Private Sewer Stories: Two Tenant Pays: All Utilities; Electricity; Gas; Heat Topography: Gently Rolling Wall Description: Insulated Water: Private; Well

Contract Information

Exclusions: Tenant's personal property not included in sale.
Off Market Date: 2026-06-20
Contingency: None
ListPrice: 619900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

Postal City: Lake City
County: Wabasha
State: MN
Zip Code: 55041

Assessments

Tax With Assessments: 6460
Assessment Balance: 0

Building Information

Building Finished SqFt: 1268
Building SqFt: 1268

More Information

Income and Expenses

Annual Gross Income: 66000

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No
Kitchen Facilities: Yes
Out Buildings: Yes

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 13
Section#: 8
Township#: 110

Sale Options

Sale Includes: Building

Unit 1

Unit Number: Yes
Monthly Rent: 750
Three-Quarter Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: 2
Level: Main Level
Unit Total SqFt: 1028
Leased?: Yes
Lease Expiration Date: 2027-01-01
No. of 1 Bedroom Units: Yes

Unit 2

No. of 2 Bedroom Units: Yes
Full Baths: Yes
Lease Expiration Date: 2027-01-01
Leased?: Yes
Level: 2nd Level
Monthly Rent: 650
Total Bathrooms: Yes
Total Bedrooms: Yes
Unit Number: 2
Unit Total SqFt: 480

Unit 3

No. of 3 Bedroom Units: 2
Full Baths: Yes
Lease Expiration Date: 2027-01-01
Leased?: Yes
Level: Main Level
Monthly Rent: 750
Total Bathrooms: Yes
Total Bedrooms: 3
Unit Number: 3
Unit Total SqFt: 980

Unit 4

Full Baths: 2
Lease Expiration Date: 2027-01-01
Leased?: Yes
Monthly Rent: 760
Total Bathrooms: 2
Total Bedrooms: 3
Unit Number: 4
Unit Total SqFt: 1216

Unit Details

Total Units: 41

Office/Member Info

Association: SEMR

Location, Tax and Other Information

Legal Description: SECT-08 TWP-110 RANGE-013 13.07 AC PARCEL IN SW CORNER OF E1/2SE1/4 AS DESC IN B166,P19 1988 RIDGE SERIAL # 06L21121
Listing City: Lake City
Map Page: 999
Municipality: Lake City
School District: Lake City
School District Phone: 651-345-2198
Zip Plus 4: 2440
Property ID Number: R030007903
Tax Year: 2025
Tax Amount: 6460
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Start 2026 with an Exceptional Investment Opportunity! This versatile 13-acre income-producing property features four residential rental units along with 37+ storage units, offering an excellent rental history and strong, consistent income potential. This property is ideal for investors seeking both stability and growth. Residential unit 1 & 2: Up/down duplex with separate entrances. Main floor unit is 2 bed, 1 bath and has approximately 1028 SQFT of living space. Laundry in unit. Upper level unit has 1 bed, 1 bath, laundry hookups and is approximately 480 SQFT of living space. Residential unit 3: 3 bed, 1 bath mobile home that offers approximately 980 SQFT of living space. Laundry in-unit. Residential unit 4: 3 bed, 2 bath mobile home that offers 1216 SQFT of living space. Laundry in-unit. Private driveway access. STORAGE East building (old hog barn): consist of 18 10x20 cold storage units. Separate driveway access from residential units. Red barn: 10 cold storage units. Separate driveway access from residential properties. Pole shed: 50x80, concrete floor, electricity, and water available. Used for boat/car storage and also offers separate shop space that is currently rented. Additional miscellaneous storage units are located throughout the property. See supplements for info.
Directions: Heading south on Highway 63, turn left onto 660th Street just south of Oak Center, property is on the left.

Accessible

None: Yes

Air Conditioning

Window Unit(s): Yes

Amenities Unit

Washer/Dryer Hookup: Yes

Appliances

Dryer: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Assumable Loan

Not Assumable: Yes

Basement

Unfinished: Yes

Construction Materials

Frame: Yes
Stone: Yes

Construction Status

Previously Owned: Yes

Exterior

Vinyl: Yes

Fencing

Privacy: Yes
Other: Yes

Foundation

Stone: Yes

Fuel

Propane: Yes

Heating

Forced Air: Yes

Lot Description

Suitable for Horses: Yes
Tree Coverage - Medium: Yes

Owner Pays

Grounds Care: Yes
Insurance: Yes
Maintenance/Repair: Yes
Taxes: Yes

Road Frontage

Township: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Asphalt Shingles: Yes

Sewer

Private Sewer: Yes

Stories

Two: Yes

Topography

Gently Rolling: Yes

Wall Description

Insulated: Yes

Water

Private: Yes
Well: Yes

No. of Ranges

Four: Yes

No. of Refrigerators

Four: Yes

Tenant Pays

All Utilities: Yes
Electricity: Yes
Gas: Yes
Heat: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: Yes
Hot Water Separate: Yes

CMU Style

Duplex Up and Down: Yes
Mixed Use: Yes
Other: Yes
Storage Unit: Yes

Current Use

Residential: Yes
Storage Facility: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Location Description

Other/See Remarks: Yes

Potential Use

Diversified: Yes
Manufactured Home: Yes
Other: Yes

Rent Rate per Foot

Per Month: Yes

Listing Office: Lakeshore Real Estate Krage &

Last Updated: June - 20 - 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.