305 N Van Buren Avenue, Springfield, MN 56087 (MLS# 7129280)

305 N Van Buren Avenue, Springfield, MN 56087

New Listing

$300,000

Property Type: Multi-Family Bedrooms: 6 Baths: 4 Square Footage: 2,400 Lot Size (sq. ft.): 15,246 Status: Active

Current Price: $300,000 List Date: 8/18/2026 Last Modified: 8/19/2026

Overview

Description

Excellent investment opportunity in Springfield, Minnesota! This well-maintained four-unit apartment building offers a strong combination of current rental income, multiple unit configurations, garage space, and significant potential for increased revenue. The property features two one-bedroom apartments and two two-bedroom apartments, with all four units currently occupied. Current rental income is $2,930 per month, providing an established income stream from day one. A major advantage of this property is the four detached garage stalls. With thoughtful restructuring of the garage spaces and a review of how the garage and rental spaces are utilized, there is substantial upside potential to increase monthly revenue. A new owner may have the opportunity to better allocate or separately rent garage space and make adjustments to the existing rental structure, creating additional income beyond the current $2,930 per month. The property also includes coin-operated laundry, providing a co ... (Read more) Excellent investment opportunity in Springfield, Minnesota! This well-maintained four-unit apartment building offers a strong combination of current rental income, multiple unit configurations, garage space, and significant potential for increased revenue. The property features two one-bedroom apartments and two two-bedroom apartments, with all four units currently occupied. Current rental income is $2,930 per month, providing an established income stream from day one. A major advantage of this property is the four detached garage stalls. With thoughtful restructuring of the garage spaces and a review of how the garage and rental spaces are utilized, there is substantial upside potential to increase monthly revenue. A new owner may have the opportunity to better allocate or separately rent garage space and make adjustments to the existing rental structure, creating additional income beyond the current $2,930 per month. The property also includes coin-operated laundry, providing a convenient amenity for tenants and another source of potential income. Situated on a corner lot, the property offers good access, visibility, and off-street parking. This is an attractive opportunity for an investor looking for a property with existing occupancy and cash flow today, while still offering room to improve and increase revenue over time. The combination of four rental units, four detached garage stalls, on-site laundry, and potential for restructuring makes this a property with both stability and upside. Property Highlights: Four-unit apartment building 2 one-bedroom units 2 two-bedroom units All four units currently occupied $2,930/month current rental income Four detached garage stalls Potential to increase revenue through garage restructuring and rental adjustments Coin-operated laundry Corner lot Well-maintained property Established rental income Strong opportunity for future income growth Current income with additional upside — a great opportunity for an investor looking to add value and increase the property's earning potential.

Listing Details MLS# 7129280

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1970
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Main Floor Total SqFt: 1200
Above Ground SqFt: 1200
Below Grd Total SqFt: 1200
Total SqFt: 2400
Foundation Size: 2400
Style: (MF) Four Plex
Total Finished Sqft: 2400.00
Power Company: Brown County Rural Electric Association
Garage Stalls: 4
Lot Dimensions: 100 X 153
Acres: 0.35
Assessment Pending: No

Property Features

Accessible: None Amenities Shared: Coin-op Laundry Owned; Common Laundry Facility Assumable Loan: Yes w/ Qualifying Construction Materials: Block; Brick Construction Status: Previously Owned Electric: 150 Amp Service Existing Financing: Conventional Exterior: Brick/Stone; Cement Board; Wood Fencing: None Foundation: Concrete Block Fuel: Electric; Natural Gas Heating: Baseboard; Boiler Internet Options: DSL; Fiber Optic Laundry: Common Area; In Basement; Laundry Room; Lower Level Lot Description: Corner Lot; Tree Coverage - Light Owner Pays: Common Area Maintenance; Insurance; Lawn; Snow Removal; Taxes; Water Parking Characteristics: Multiple Garages; Parking Lot; Gravel Lot Pool Description: None Rental License Type: Standard Road Frontage: City Street; Sidewalks; Street Lights Road Responsibility: Public Maintained Road Roof: Asphalt Shingles Sellers Terms: Cash; Conventional Sewer: City Sewer/Connected Tenant Pays: Electricity; Fuel Topography: Level Unit 1 Amenities: Countertops-Solid Surface; Ceiling Fan(s); City View Unit 1 Appliances: Range; Refrigerator Unit 1 Bath Description: Full Primary; Main Floor Full Bath Unit 1 Cooling: Wall Unit 1 Dining Room Description: Kitchen/Dining Room Unit 1 Family Room Characteristics: Family Room Unit 2 Amenities: Countertops-Solid Surface; Ceiling Fan(s); City View Unit 2 Appliances: Range; Refrigerator Unit 2 Bath Description: Full Primary; Main Floor Full Bath Unit 2 Cooling: Wall Unit 2 Dining Room Description: Kitchen/Dining Room Unit 2 Family Room Characteristics: Family Room Water: City Water/Connected

Contract Information

Exclusions: none
Contingency: None
Original List Price: 300000
ListPrice: 300000
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

House Number: 305
Street Direction Prefix: N
Street Name: Van Buren
Street Suffix: Avenue
Postal City: Springfield
County: Brown
State: MN
Zip Code: 56087
Complex/Dev/Subdivision: Van Dusen Add

Assessments

Tax With Assessments: 3010
Assessment Balance: 0

Basement

Foundation Dimensions: 40 X 60

More Information

Building Information

Finished SqFt Above Ground: 1200
Finished SqFt Below Ground: 1200

Income and Expenses

Annual Electric Expense: 1995
Annual Gross Expenses: 10000
Annual Gross Income: 35160
Annual Insurance Expense: 1800
Annual Maintenance Expense: 2500
Annual Net Income: 25160
Misc Monthly Income: 40
Misc. Annual Income: 450
Total Annual Expenses: 10000
Annual Caretaker Expense: 0
Annual Fuel Expense: 0
Annual Repair Expense: 0
Annual Trash Expense: 0
Annual Water/Sewer Expense: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

DP Resource: Yes
Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Dimensions: 20 X 12
Garage Door Height: 8
Garage Door Width: 8
Garage Square Feet: 240
Multiple Garages: Yes
Parking Lot: Yes
Gravel Lot: Yes

Unit 1

Furnished?: No
Lease Expiration Date: 2027-01-01
Leased?: Yes
Level: 2nd Level
Unit Number: Yes
Annual Rent: 9000
Finished SqFt: 700
Full Baths: Yes
Monthly Rent: 750
No. of Units Like This: 2
Oth Parking Spaces: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 4

Unit 2

Furnished?: No
Lease Expiration Date: 2027-01-01
Leased?: Yes
Level: Below Ground
Unit Number: 2
Annual Rent: 8580
Finished SqFt: 600
Full Baths: Yes
Monthly Rent: 715
No. of Units Like This: 2
Oth Parking Spaces: Yes
Total Baths: Yes
Total Bedrooms: Yes
Total Rooms: 4

Unit Details

Total Units: 4

Office/Member Info

Association: WCAR

Location, Tax and Other Information

Legal Description: VAN DUSEN ADDITION LOT-006 BLOCK-004 LOT 5 &
Listing City: Springfield
Map Page: 999
Municipality: Springfield
School District: Springfield
School District Phone: 507-723-4283
Zip Plus 4: 1069
Property ID Number: 00331000406060
Tax Year: 2025
Tax Amount: 3010
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Excellent investment opportunity in Springfield, Minnesota! This well-maintained four-unit apartment building offers a strong combination of current rental income, multiple unit configurations, garage space, and significant potential for increased revenue. The property features two one-bedroom apartments and two two-bedroom apartments, with all four units currently occupied. Current rental income is $2,930 per month, providing an established income stream from day one. A major advantage of this property is the four detached garage stalls. With thoughtful restructuring of the garage spaces and a review of how the garage and rental spaces are utilized, there is substantial upside potential to increase monthly revenue. A new owner may have the opportunity to better allocate or separately rent garage space and make adjustments to the existing rental structure, creating additional income beyond the current $2,930 per month. The property also includes coin-operated laundry, providing a convenient amenity for tenants and another source of potential income. Situated on a corner lot, the property offers good access, visibility, and off-street parking. This is an attractive opportunity for an investor looking for a property with existing occupancy and cash flow today, while still offering room to improve and increase revenue over time. The combination of four rental units, four detached garage stalls, on-site laundry, and potential for restructuring makes this a property with both stability and upside. Property Highlights: Four-unit apartment building 2 one-bedroom units 2 two-bedroom units All four units currently occupied $2,930/month current rental income Four detached garage stalls Potential to increase revenue through garage restructuring and rental adjustments Coin-operated laundry Corner lot Well-maintained property Established rental income Strong opportunity for future income growth Current income with additional upside — a great opportunity for an investor looking to add value and increase the property's earning potential.
Directions: 305 North Van Buren. Springfield, MN 56087

Accessible

None: Yes

Amenities Shared

Coin-op Laundry Owned: Yes
Common Laundry Facility: Yes

Assumable Loan

Yes w/ Qualifying: Yes

Construction Materials

Block: Yes
Brick: Yes

Construction Status

Previously Owned: Yes

Electric

150 Amp Service: Yes

Existing Financing

Conventional: Yes

Exterior

Brick/Stone: Yes
Cement Board: Yes
Wood: Yes

Fencing

None: Yes

Foundation

Concrete Block: Yes

Fuel

Electric: Yes
Natural Gas: Yes

Heating

Baseboard: Yes
Boiler: Yes

Internet Options

DSL: Yes
Fiber Optic: Yes

Laundry

Common Area: Yes
In Basement: Yes
Laundry Room: Yes
Lower Level: Yes

Lot Description

Corner Lot: Yes
Tree Coverage - Light: Yes

Owner Pays

Common Area Maintenance: Yes
Insurance: Yes
Lawn: Yes
Snow Removal: Yes
Taxes: Yes
Water: Yes

Patio, Porch and Deck Features

Patio: Yes
Rear Porch: Yes

Pool Description

None: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes
Sidewalks: Yes
Street Lights: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Asphalt Shingles: Yes

Sellers Terms

Cash: Yes
Conventional: Yes

Sewer

City Sewer/Connected: Yes

Topography

Level: Yes

Water

City Water/Connected: Yes

No. of Ranges

Four: Yes

No. of Refrigerators

Four: Yes

Tenant Pays

Electricity: Yes
Fuel: Yes

Unit 1 Amenities

Countertops-Solid Surface: Yes
Ceiling Fan(s): Yes
City View: Yes

Unit 1 Appliances

Range: Yes
Refrigerator: Yes

Unit 1 Bath Description

Full Primary: Yes
Main Floor Full Bath: Yes

Unit 1 Cooling

Wall: Yes

Unit 1 Dining Room Description

Kitchen/Dining Room: Yes

Unit 1 Family Room Characteristics

Family Room: Yes

Unit 2 Amenities

Countertops-Solid Surface: Yes
Ceiling Fan(s): Yes
City View: Yes

Unit 2 Appliances

Range: Yes
Refrigerator: Yes

Unit 2 Bath Description

Full Primary: Yes
Main Floor Full Bath: Yes

Unit 2 Cooling

Wall: Yes

Unit 2 Dining Room Description

Kitchen/Dining Room: Yes

Unit 2 Family Room Characteristics

Family Room: Yes

Documents

VanBuren Apts.pdf ›

Listing Office: Kemp Real Estate

Last Updated: August - 19 - 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.

305 N Van Buren Avenue, Springfield, MN 56087 (MLS# 7129280)