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Mortgage
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Sold for $720,000
Sold for $720,000
254 2nd St SW Forest Lake, MN 55025
$720,000
CLOSEDBeds
7
Baths
6
Sqft
Acres
0.19
Year
1969
Close Date
Sep 21, 2023
Property Type
Commercial Sale
Sub Type
Date Listed
Jun 7, 2023
Description of 254 2nd St SW, Forest Lake, MN 55025
Listing details for 254 2nd St SW, Forest Lake, MN 55025 : Great Cash flow property with opportunity to make improvements and increase rents in the future. This apartment building includes a 6 stall garage and large parking lot. Most tenants just resigned leases into 2024. This is a great opportunity for an investor looking searching for a property using a 1031 Exchange.
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Listing Updated : 08-24-2026 at 11:04 PM CDT
Property Details
Property Overview
Listing Price
$750,000
MLS #ID
6383209
Close Price
$720,000
Close Date
Sep 21, 2023
Bedrooms
7
Bathrooms
6
Square Footage
Acres
0.19
Year
1969
Days on Site
62 Days
Property Type
Commercial Sale
Property Sub Type
Price per Sq Ft
$0
Date Listed
Jun 7, 2023
Location
Street Address
254 2nd St SW
City
State
Minnesota
ZIP Code
County
Neighborhood / Subdivision
Driving Directions
from Highway 35E northbound, take a right on Broadway Ave. Take a left on NW 3rd St, Building is on the corner of NW 3rd St and NW 2nd Ave.
Schools
School District
Home Specification
Bedrooms
7
Construction / Architecture
Year Built
1969
Construction Materials
Block
Foundation
Block
Roof
Age Over 8 Years
New Construction
No
Price per Sq Ft
$0
Lot Features
Tree Coverage - Light
Lot Size (Acres)
0.19
Lot Dimensions
87x100
Interior Details
Appliances
Range and Refrigerator
Flooring
Carpet and Vinyl
Fireplace
No
Heating
Boiler
Cooling
None
Exterior Details
Garage
No
Garage Spaces
6
Parking Features
Detached Garage and Asphalt
Exterior Features
Stucco
Fencing
None
Water Source
City Water/Connected
Sewer
City Sewer/Connected
Taxes, HOA & Financing
Annual Property Tax
$7,050.00
HOA Fee Includes
None
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Properties displayed may be listed or sold by various participants in the MLS
Source
NorthstarMLS as distributed by MLS GRID, MLS#: 6383209
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Property History
DateEventPrice
9/21/2023
Sold
$720,000
Source:NorthstarMLS #NST6383209
NorthstarMLS #NST6383209 6/7/2023
Listed for sale
—
Source:NorthstarMLS #NST6383209
NorthstarMLS #NST6383209Location of 254 2nd St SW, Forest Lake, MN 55025
Streetview of 254 2nd St SW, Forest Lake, MN 55025
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Based on information submitted to the MLS GRID as of 2026-08-25. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
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