For Sale: Red Wing MLS# 6803774
Active
$424,900
Multi-family: 2 Stories
5 br • 5 ba • Built 1880
2,829 sqft • 0.23 acres
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
Listing Status:
Active
Contingency:
None
List Price:
$424,900
Price per sq ft:
$150
Property Type:
Multi-family
City:
Red Wing
Garage Spaces:
0
County:
Goodhue
Year Built:
1880
State:
MN
Property Style:
2 Stories
Zip Code:
55066
Subdivision Name:
City/Red Wing
Interior
Bedrooms:
5
Bathrooms:
5
Finished Area:
2,829 ft2
Living Area:
2,829 ft2
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
Roof Details:
- Age 8 Years or Less
- Asphalt
Rooms
Laundry:
None
Lot & Land
Acres:
0.23
Geolocation:
44.561611, -92.538541
Lot Dimensions:
.23 Acres
Zoning:
Residential-Multi-Family
Lot Description:
- Irregular Lot
- Tree Coverage - Light
Schools
School District:
1183
District Phone:
6513854500
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 Trash Expense:
$1,000
Annual Water/Sewer Expense:
$4,170
Tenant Expenses:
Broadband, Cable TV
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$4,206
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$4,206
Income
Annual Gross Income:
$62,700
Rent
Annual Net Income:
$44,827
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Power Company Name:
Xcel Energy
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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.
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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.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.