109 E Luverne Street, Units 101-336, Luverne, MN 56156

$1,750,000

109 E Luverne St is a 32-unit condo complex offering a great investment opportunity in a historic school building that has been renovated into a multi-family residential space

Front entry. Building includes elevators to each floor

Well kept building on a clean and spacious lot

Building offers parking lot space for residents to use

Residents can enjoy the full court gymnasium for recreation year-round!

Full size gymnasium makes a great rec space for residents!

Shared laundry room with coin-op washer & dryers

Close to Luverne City Park on the shores of the Rock River

Peaceful river views along the Rock River

Property Type: Commercial Square Footage: 75,000 Lot Size (sq. ft.): 96,268 Status: Active

Current Price: $1,750,000 List Date: 7/06/2026 Last Modified: 8/27/2026

Overview

Description

A rare investment opportunity in the heart of Luverne! City Centre is a well-maintained 32-unit condominium complex housed in a beautifully repurposed historic school building, offering a unique blend of character and modern living. Residents enjoy shared amenities including a full-size gymnasium, community room, spacious outdoor green space, coin-operated laundry, and elevator access. The complex offers a mix of 1, 2, and 3-bedroom units, creating broad rental appeal. Ideally located within walking distance of restaurants, shopping, local businesses, Luverne City Park, and the Rock River, this property is positioned for convenience and long-term value. Buyer financing is available, making this a standout investment opportunity.

Listing Details MLS# 7104049

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1925
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 25000
For Sale or Lease: For Sale
Acres: 2.21
Lot Dimensions: 339x284x339x284
Assessment Pending: Unknown

Property Features

Accessible: Accessible Elevator Installed; Hallways 42"+; Wheelchair Ramp Air Conditioning: Central Air Amenities Shared: Coin-op Laundry Owned; Concrete Floors & Walls; Elevator(s); Fire Sprinkler System; In-Ground Sprinkler System; Security Building; Other Amenities Unit: Ceiling Fan(s); Indoor Sprinklers; Main Floor Primary Bedroom Appliances: Dishwasher; Range; Refrigerator CMU Style: Apartments/Multi Family; Low Rise Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone Foundation: Concrete Block Fuel: Electric Heating: Baseboard Loan Terms: Cash; Special Funding Lot Description: Corner Lot; Tree Coverage - Light Miscellaneous Information: Building Sign On Site Utilities: Electric Separate; Heating Separate Owner Pays: Lawn; Lawn; Maintenance/Repair; Snow Removal Parking Characteristics: Parking Lot; Paved Lot Pool Description: None Potential Use: Other Road Frontage: City Street; Curbs; Paved Streets; Sidewalks; Street Lights Road Responsibility: Public Maintained Road Roof: Flat; Rubber; Tar/Gravel Sewer: City Sewer/Connected Shared Rooms: Other Stories: Three Or More Tenant Pays: Broadband; Electricity Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 1750000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 109
Street Direction Prefix: E
Street Name: Luverne
Street Suffix: Street
Unit Number: Units 101-336
Postal City: Luverne
County: Rock
State: MN
Zip Code: 56156
Complex/Dev/Subdivision: City Center Condo Inc Cic #13

Assessments

Tax With Assessments: 16266

Building Information

Building Finished SqFt: 75000
Building SqFt: 75000

More Information

Income and Expenses

Annual Gross Expenses: 150930
Annual Gross Income: 332040
Annual Net Income: 181110
Total Annual Expenses: 150930

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building, Fixture/Equipment

Unit 1

No. of 1 Bedroom Units: 5

Unit 2

No. of 2 Bedroom Units: 22

Unit 3

No. of 3 Bedroom Units: 4

Unit Details

Total Units: 32

Listing Office: RE/MAX Advantage Plus

Last Updated: August - 27 - 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. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

109 E Luverne Street, Units 101-336, Luverne, MN 56156 (MLS# 7104049)