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$490,000

  • Sold
  • Closed
  • Commercial
  • 0.11 Acres
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Solid investment opportunity with this 6-unit apartment building in Waverly. The property is fully rented, producing $6,700 in monthly rent, and offers a strong, stable rental history. Units are well maintained, and recent updates include a roof with warranty and tuckpointed brick exterior. Additional features include a shared coin-operated laundry room for tenant convenience and supplemental income. Photos of all units are included in the listing, and complete financials are provided in the supplements for buyer review. The seller also owns the neighboring duplex and a mixed-use building with one apartment and a commercial space, for a total of 10 units all next door to each other. Preference is to sell as a package, though individual sales will be considered.

Full Property Details for 409 Elm Ave

General

  • Sold For: $490,000
  • Taxes: $3,906 (2024)
  • Status: Closed
  • Type: Commercial
  • Source: NorthStarMLS_RMLS
  • MLS ID: 6789416
  • Added to Site: 113 day(s) ago

Parking

  • Parking Features: Gravel

School Information

  • School District: 1212 - Howard Lake-Waverly-Winsted
  • High School District: Howard Lake-Waverly-Winsted

Heating & Cooling

  • Heating Type: Baseboard, Forced Air
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)
  • Utility Description: Electric Separate

Financial Considerations

  • Operating Expenses: $31,047
  • Tax Amount: $3,906
  • Tax Year: 2024
  • Owner Pays: Gas, Sewer, Snow Removal, Trash Collection, Water
  • Tenant Pays: Electricity
  • Pays Electric: Tenant Pays
  • Pays Gas: Owner Pays
  • Pays Trash: Owner Pays
  • Pays Water: Owner Pays

Disclosures and Reports

  • Legal Description: SECT-33 TWP-119 RANGE-026 ORIGINAL PLAT WAVERLY LOT-008 BLOCK-019 TH PRT OF LTS8, 9&10DES COM NW COR OF LT10TH S ALG W LN69FT TH E DIAGNLY TO PT61FT S OF NE COR OF LT8 TH N TO NE COR TH/OF TH W 75FT TO BEG
  • Inclusions: Building
  • Property ID: 116010019081

Listed by Lifecycle Real Estate Services
Sold by RE/MAX Results

Listing agent

— 409 Elm Ave —

  • Lifecycle Real Estate Services

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 409 Elm Ave

School District:Howard Lake-Waverly-Winsted
NameGradesDistance
Humphrey Elementary School
803 Elm Avenue, Waverly, MN 55390
PK-40.3 mi
Howard Lake Middle School
8700 County Road 6 Southwest, Howard Lake, MN 55349
5-85.5 mi
Winsted Elementary School
431 4th Street North, Winsted, MN 55395
PK-47.9 mi
Howard Lake-Waverly-Winsted Sec.
8700 County Road 6 Southwest, Howard Lake, MN 55349
9-125.5 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 409 Elm Ave

Date
Details
Price
Change
Source
12/17/2025
Sold
$490,000
2.08%
MLS
9/25/2025
Listed
$480,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by Lifecycle Real Estate Services
Sold by RE/MAX Results

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409 Elm Ave, Waverly, MN 55390 (MLS# 6789416) is a Commercial property that was sold at $490,000 on December 17, 2025. Want to learn more about 409 Elm Ave? Do you have questions about finding other Commercial real estate for sale in Waverly? You can browse all Waverly real estate or contact a Coldwell Banker agent to request more information.