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Active NEW!
$490,000
/mo Edit
Multi-family:  Apartments
Built 1880
2,829 sqft • 0.23 acres
Red Wing schools
MLS# 6803774
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    Property Description

    Rare 5 Plex Investment Opportunity!!! Fully rented with great cash flow! Major Remodel of all units as well as recent renovations to ceiling; flooring in Unit 1 & major Foundation work. Fresh paint throughout most Units. Maintenance-free Siding & Roof replaced in 2018. New Water Heater in 2020 & New Boiler in 2025. 4-1 Bedroom/1 Bath units along with 1 Studio apartment! On Site and Street Parking available. Located within the scenic Historic District; just steps away from downtown!

    Listing

    Contingency: None
    Price per sq ft: $173
    City: Red Wing
    County: Goodhue
    State: MN
    Property Style: Apartments
    Zip Code: 55066
    Subdivision Name: City/Red Wing

    Interior

    Living Area: 2,829 ft2
    Ranges: Five
    Refrigerators: Five
    Basement Details: Partial

    Exterior

    Stories: Two
    Garage Spaces: 0
    Foundation Size: 395 ft2
    Fencing: None
    Handicap Accessible: None
    Heating System:
    • Baseboard
    • Boiler
    • Radiant
    Parking Features: Assigned
    Shared Amenities: Porch
    Road Frontage: City Street
    Exterior Material: Metal Siding
    Roof Details:
    • Age 8 Years or Less
    • Asphalt

    Lot & Land

    Acres: 0.23
    Geolocation: 44.561611, -92.538541
    Lot Dimensions: .23 Acres
    Zoning: Residential-Multi-Family
    Lot Description:
    • Irregular Lot
    • Some Trees

    Schools

    School District: 256
    District Phone: 651-385-4500

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $2,750
    Annual Fuel Expense: $2,750
    Annual Insurance Expense: $6,288
    Annual Maintenance Expense: $1,000
    Annual Gross Expense: $17,873
    Annual Trash Expense: $1,000
    Annual Water/Sewer Expense: $4,170
    Tenant Expenses: Cable TV

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $4,206
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $3,392

    Income

    Annual Gross Income: $62,700

    Units

    Total Units: 4

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

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    Local Home Mortgage Professionals

    Eric Bloomstrand
    Branch Sales Manager
    Fairway Home Mortgage    NMLS#274211
    612-961-2600
    Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
    Connect with Eric today to get started with your home purchase!

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    Listing provided by RMLS, courtesy of RE/MAX Results.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.