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Welcome to 501 Euclid Avenue! Discover a rare opportunity to own a unique multi-family property on the main street of Milroy, conveniently located across from the local gas station and fitness center. This property spans two parcels and features four rental units, including a stunning historic brick building"”originally the city's bank"”now transformed into a charming apartment complex with three distinct rental units. Originally renovated starting in 2010, the building received a new foundation and a durable flat rubber membrane roof before being fully converted into rental spaces (roof has been recoated in 2023 - ready for years to come!). It includes a one-bedroom apartment, a two-bedroom apartment, and a studio-style unit, all designed with high ceilings, open living spaces, and preserved architectural details that exude historic charm. The apartment building is fully electric, powered by an updated geothermal system for efficient heating and cooling. Energy-efficient windows were custom-designed to maintain the building's original aesthetic while enhancing comfort. Additionally, the property includes a completely renovated trailer home (2023), adding even more investment potential. The property has been well-loved and meticulously maintained. Whether you're looking for a strong investment opportunity or a piece of local history, this property is a must-see!
Property Type(s):
Commercial
| Year Built | 1902 | County | Redwood |
|---|
SCHOOLS
| School District | Milroy |
|---|
Additional Details
| AIR | Ceiling Fan(s), Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| BASEMENT | Full, Yes |
| CONSTRUCTION | Brick, Metal Siding |
| HEAT | Electric, Geothermal, Propane |
| LOT | 3049 sq ft |
| LOT DESCRIPTION | Corner Lot |
| LOT DIMENSIONS | 130x75 |
| PARKING | On Street |
| SEWER | Public Sewer |
| STORIES | 2 |
| TAXES | 2018 |
| WATER | Public |
| ZONING | Residential-Multi-Family |
Listed with Edina Realty, Inc.
The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. All real estate listings are marked with the Broker ReciprocitySM logo, and detailed information about them includes the name of the listing brokers.
Information deemed reliable but not guaranteed.
Copyright 2025 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.
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