For Sale: Slayton MLS# 6825937
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Property Description
Well-maintained 32-unit one-bedroom senior apartment building featuring common areas, individually metered electric, and an updated boiler system. Property is in solid overall condition with a consistent unit layout and on-site parking. HUD contract in place through 10/31/2026, perfect for future HUD-to-market conversion opportunity upon contract expiration. Offered as a value-add investment opportunity with current financial performance below market, allowing upside through operational improvements, rent optimization, and expense management. Suitable for senior housing operations, affordable housing strategies, or market-rate repositioning with stable long-term demand. Ideal for value-add investors, , affordable housing operators, and HUD/senior housing specialists.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$650,000
Property Type:
Commercial
City:
Slayton
Garage Spaces:
0
County:
Murray
Year Built:
1979
State:
MN
Property Style:
Other
Zip Code:
56172
Exterior
Stories:
Three Or More
Garage Spaces:
0
Air Conditioning:
Wall Unit(s)
Foundation Size:
9,171 ft2
Fencing:
None
Handicap Accessible:
Accessible Elevator Installed
Heating System:
Boiler
Parking Features:
Parking Lot
Pool:
None
Lot & Land
Acres:
0.878
Geolocation:
43.979618, -95.754572
Inclusions:
Building, Land
Lot Dimensions:
174 x 347 x 60 x 165 x 132 x 165
Zoning:
Residential-Multi-Family
Lot Description:
Irregular Lot
Farm
Topography:
Level
Schools
School District:
1060
District Phone:
5078366183
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$1,768
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$1,768
Units
Total Units:
32
Unit Number:
#2
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of RE/MAX Results.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.