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!!

Based on information submitted to RASM as of July 23, 2026 7:57 AM UTC . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Mankato, MN

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Property Details of 229 Locke Street

Property Details

Basic Information

Building

Location

Finance

Interior Features

Basement

Utilities and Appliances

Utilities and Appliances

Map Location

Driving Directions

Hi there! How can we help you?

Hi there! How can we help you?

Hi there! How can we help you?

Mankato, MN