403 2nd Street NW, Austin, MN 55912

Property Description

A compelling investment opportunity in the heart of Austin, this multifamily property offers four conforming units, one nonconforming unit, and additional upside for an investor with a vision. The property features four one-bedroom units, each with a bonus room, along with a fifth unit offering two bedrooms and a bonus room. Four units are currently rented at $650 per month, while the fifth unit is vacant, presenting an opportunity to secure a new tenant or explore alternative uses. The unfinished third level offers further potential for expansion, subject to applicable approvals, with possibilities for additional living space or future rental units. Rich in character and offering a flexible layout, the property presents an opportunity to reposition an established income-producing asset, evaluate rental rates, and pursue improvements over time. Centrally located in Austin, with convenient access to local businesses, services, and community amenities, this multifamily property offers investors an opportunity to build on existing income while exploring its longer-term potential.