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229 Locke Street
Mankato MN 56001 US

$250,000

Active Listing ID 267040989
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4 bed
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2.00 Bath (1 Full)
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Lot: 0.19 Acres
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Other

$250,000

Active Listing ID 267040989
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229 Locke Street 5 unrelated Rental license - Rare investment opportunity knocks! Attractive cap rate potential($2000-2500/month) at current list price. Tenants have paid all utilities in the past! Excellent opportunity for investors seeking immediate cash flow. Property offers tenant appeal, with its location to MSU/Bethany/Downtown Mankato, and a price point difficult to find in today's multifamily market. Whether adding to an existing portfolio or entering multifamily investing for the first time, this property offers potential solid income, long-term appreciation potential, and demand in this area. Attractive price point, 5 off street parking spots, central location, 4 Bedrooms, a large kitchen/dining/& living areas, as well as versatile occupancy options make this a property you won't want to miss! Close in time for Fall Semester!!

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Property Features

  • Facts
  • Lot Size: 0.19 Acres
  • Property Type: Residential Multi Family
  • Property Sub-type: Other
  • Features
  • Full Bathrooms: 1
  • 3/4 Bathrooms: 1
  • Exterior Finish: Balcony, Deck, Driveway - Concrete, Porch
  • Roof Type: Shingle
  • Heating Fuels: Forced Air
  • Additional Features
  • Basement
  • Patio

Property

  • propertytype: Residential Multi Family
  • propertysubtype: Other
  • listprice: 250000
  • unparsedaddress: 229 Locke Street
  • postalcity: Mankato
  • stateorprovince: MN
  • country: US
  • postalcode: 56001
  • bathroomsfull: 1
  • bathroomshalf: 0
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 1
  • lotsizeacres: 0.19
  • lotsizeunits: Acres
  • lotsizearea: 0.19
  • livingarea: 0
  • livingareaunits: Square Feet
  • latitude: 44.157155
  • longitude: -94.004716
  • listagentfullname: Rachael Hansen-Miller
  • listagentemail: rlhmiller@kw.com
  • listagentkey: 3yd-RASMMN-80555
  • listagentmlsid: 80555
  • listagentpreferredphone: 5073823815
  • listagentofficephone: 5047424442
  • listofficekey: 3yd-RASMMN-18002
  • listofficemlsid: 18002
  • disclaimer: Copyright © 2026 Realtor Association of Southern Minnesota. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  • sourcesystemid: RASMMN
  • yearbuilt: 1890
  • listingcontractdate: 2026-07-20
  • listagenturl: http://www.kwprsearch.com
  • countyorparish: Blue Earth County
  • parcelnumber: R01.09.18.305.007
  • elementaryschooldistrict: Mankato #77
  • middleorjuniorschooldistrict: Mankato #77
  • highschooldistrict: Mankato #77
  • heating: Forced Air
  • numberofunitstotal: 1
  • fireplaceyn: False
  • transactiontype: ForSale
  • storiestotal: 2
  • parkingtotal: 0
  • roof: Shingle
  • waterfrontyn: False
  • franchiseaffiliation: Keller Williams Realty
  • interiorfeatures: Main Floor Laundry
  • exteriorfeatures: Balcony, Deck, Driveway - Concrete, Porch
  • architecturalstyle: Other
  • rooms: Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 4, Basement, Bathroom 1
  • patioandporchfeatures: Porch, Deck
  • basement: Unfinished
  • dock: False
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: False
  • internetconsumercommentyn: False
  • location: -94.004715, 44.157154
  • customfields: {"AdditionalInformation":{}, "AlternatePrices":[], "BrokerName":"Keller Williams Premier Realty", "BuilderEmail":null, "BuilderFax":null, "BuilderPhone":null, "City":null, "Country":null, "CustomSourceId":null, "Expenses":[], "GeocodeOptions":null, "LeadRoutingEmail":"rlhmiller@kw.com", "ListBrokerageCity":"Rochester", "ListBrokerageCountry":"US", "ListBrokerageEmail":"kwprbroker@gmail.com", "ListBrokerageLogoUrl":null, "ListBrokerageName":"Keller Williams Premier Realty", "ListBrokeragePhone":"(507) 424-4422", "ListBrokeragePostalCode":"55901", "ListBrokerageStateOrProvince":"MN", "ListBrokerageUnitNumber":null, "ListBrokerageUnparsedAddress":"2765 Commerce Drive NW", "ListBrokerageWebsiteUrl":"http://www.kwprsearch.com", "ListOfficeAddress1":"2765 Commerce Drive NW ", "ListOfficeAddress2":null, "ListOfficeBrokerMlsId":"18002", "ListOfficeCity":"Rochester", "ListOfficeCountry":"US", "ListOfficeEmail":"klrw521@kw.com", "ListOfficePostalCode":"55901", "ListOfficeStateOrProvince":"MN", "ListPriceCurrencyType":"USD", "ListingTitle":"MULTI_FAMILY - Mankato, MN", "ListingURL":"https://www.realtor.com/realestateandhomes-detail/229-Locke-St_Mankato_MN_56001_M75698-04946?f=listhub&s=RASMMN&m=267040989&c=rexren", "MLSModificationTimestamp":"2026-07-23 06:15:52", "Neighborhoods":[{"Description":null, "Name":"MANKATO CENTRAL"}], "PostalCode":null, "RoomCount":null, "StateOrProvince":null, "Taxes":[{"TaxAnnualAmount":2704, "TaxDescription":"WARRENS SECOND ADD S43FT OF 5 & N26FT OF 006 024 00", "TaxYear":"2026"}], "UnitNumber":null, "UnparsedAddress":null}
Listing Changed: 7/23/2026 6:54:30 AM GMT
Source Updated Date: 7/26/2026 12:50:39 AM GMT

Courtesy of: Rachael Hansen-Miller, Keller Williams Premier Realty, rlhmiller@kw.com

Copyright © 2026 Realtor Association of Southern Minnesota. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.