815 W 4th St
- Turn-Key Multi-Family Investment: An exceptional opportunity for investors seeking stable cash flow backed by an attractive entry price of $74,000 per unit and a 5.96x Gross Rent Multiplier (GRM).
- Desirable 5-Unit Asset Mix: Comprises four 1-bedroom / 1-bathroom units and one studio apartment, maintaining strong, steady demand in the Red Wing rental market.
- Value-Add Upside: Recover owner-paid utility expenses.
- Prime Red Wing Location: Situated in a desirable residential pocket of Red Wing, offering tenants easy access to local downtown employers, dining, shopping, and scenic Mississippi River recreation.
- Convenient Parking & Access: Features dedicated on-site, off-street parking for tenants along with ample street parking
- Recent Capital Improvements: Updates including a new boiler (2025), water heater (2020), roof (2018), and $24,000 in foundation enhancements.
Property Description
An excellent opportunity to acquire a fully leased five-unit multifamily property in Red Wing, Minnesota, offering established rental income and long-term investment potential. The property features four one-bedroom apartments and one studio, with a consistent rental history and an attractive unit mix. Significant capital improvements include a new boiler in 2025, a water heater installed in 2020, a roof replaced in 2018, and approximately $24,000 in foundation improvements. Situated on a generous lot with on-site and street parking, the property is conveniently located near downtown Red Wing, local amenities, and the Mississippi River. With all five units currently occupied and potential to enhance performance, this property presents an appealing opportunity for investors seeking an established multifamily asset.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $370,000 |
| No. of Units: | 5 |
| Year Built: | 1880 |
| Lot Size: | 0.19 Acres |
| Opportunity Zone: | No |
| Price per unit: | $74,000 |
| Property Website | Click Here |
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