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For Sale:  Red Wing MLS# 7165679

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Active NEW!
$389,850
/mo Edit
Commercial:  2 Stories
6 br • 5 ba • Built 1880
0.22 acres
Red Wing schools
MLS# 7165679
763-576-8286
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    Property Description

    This handsome, well maintained 5-Plex rental property has been owned for decades. Three tenants have resided there over the past four years. Located in the Historic District within walking distance of downtown. Premium units feature leaded glass, decorative fireplaces and decks. Unassigned, open air parking in the rear. See Supplemental Financial Information and Notes for the 5th unit and other information.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $389,850
    Property Type: Commercial
    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: 6
    Bathrooms: 5
    Refrigerators: Five
    Appliances Included:
    • Range
    • Refrigerator
    Basement Details:
    • Full
    • Unfinished

    Exterior

    Stories: Two
    Garage Spaces: 0
    Air Conditioning: Window Unit(s)
    Foundation Size: 1,936 ft2
    Foundation Dimensions: 44 x 47
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Boiler
    Parking Features:
    • Gravel
    • Open
    • Parking Lot
    • Unassigned
    Unit Amenities: Deck
    Road Frontage:
    • City Street
    • Curbs
    • Paved Streets
    • Sidewalks
    • Storm Sewer
    • Street Lights
    Exterior Material:
    • Concrete
    • Frame
    Roof Details:
    • Age Over 8 Years
    • Asphalt

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.22
    Geolocation: 44.5625, -92.537669
    Inclusions: Building, Land, Leases, Other
    Lot Dimensions: 66 x 142
    Zoning: Residential-Multi-Family
    Lot Description:
    • Public Transit (w/in 6 blks)
    • Tree Coverage - Medium

    Farm

    Topography: Rolling

    Schools

    School District: 256
    District Phone: 6513854500

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $2,500
    Annual Fuel Expense: None
    Annual Insurance Expense: $80,000
    Annual Maintenance Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: $4,200
    Tenant Expenses: Broadband, Cable TV, Electricity

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $4,978
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $5,062

    Income

    Annual Gross Income: $55,320

    Rent

    Annual Net Income: $34,558

    Units

    Total Units: 5

    Miscellaneous

    Current Use: Residential
    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System:
    • City Sewer - In Street
    • City Sewer/Connected
    Available Utilities:
    • Electric Separate
    • Heating Common
    Water System:
    • City Water - In Street
    • City Water/Connected
    Power Company Name: Xcel Energy

    Mortgage Calculator

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    Payment:  /mo

    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 Star Realty.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.