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$389,900
Est. payment /mo
5 Beds
5 Baths
2,829 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 2,829 sqft
Price per Sqft $137
Subdivision City/Red Wing
MLS Listing ID 7030253
Bedrooms 5
Year Built 1880
Annual Tax Amount $4,206
Tax Year 2025
Contingent None
Lot Size 10,018 Sqft
Lot Dimensions .23 Acres
Property Sub-Type Apartment
Property Description
Turnkey 5-Unit Investment Opportunity in Red Wing
Fully leased 5-plex in a desirable, walkable historic neighborhood just minutes from downtown and the Mississippi River. Property features 4 one-bedroom units and 1 studio, generating $5,075/month in gross rental income with continued upside potential.
Recent improvements include updated interiors, flooring, paint, and major mechanicals: new boiler (2025), water heater (2020), and roof (2018)—helping minimize near-term capital expenses. Generous lot with on-site and street parking.
Strong rental demand area with consistent occupancy—ideal for investors seeking a stable, income-producing asset with upside.
Fully leased 5-plex in a desirable, walkable historic neighborhood just minutes from downtown and the Mississippi River. Property features 4 one-bedroom units and 1 studio, generating $5,075/month in gross rental income with continued upside potential.
Recent improvements include updated interiors, flooring, paint, and major mechanicals: new boiler (2025), water heater (2020), and roof (2018)—helping minimize near-term capital expenses. Generous lot with on-site and street parking.
Strong rental demand area with consistent occupancy—ideal for investors seeking a stable, income-producing asset with upside.
Location
State MN
County Goodhue
Zoning Residential-Multi-Family
Rooms
Basement Partial
Interior
Heating Baseboard, Boiler, Radiant
Fireplace No
Laundry None
Exterior
Parking Features Assigned
Fence None
Roof Type Age 8 Years or Less,Asphalt
Building
Lot Description Irregular Lot, Tree Coverage - Light
Story Two
Foundation 395
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
New Construction false
Schools
School District Red Wing
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