For Sale: Red Wing MLS# 7002412
Active
NEW!
$265,000
Multi-family: Triplex
5 br • 3 ba • Built 1880
2,449 sqft • 0.1 acres
MLS# 7002412
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Property Description
This triplex is a great investment opportunity! Unit 1 is located on the main level and it is used as a fully furnished Short Term Rental. This unit is warm and inviting and offers a bright living room, large kitchen with a walk-out bay window, and one spacious bedroom with an ensuite full bath that has a beautiful tile surround. Unit 2 is a Long Term Rental located on the main level and it features a large living room, 2 bedrooms, office, eat-in kitchen, full bath and an in unit washer and dryer. Unit 3 is located on the upper level and has a living room, kitchen, 2 bedrooms, walk-in closet, storage closet, laundry room and a full bath. Units 2 and 3 have Long Term Rental Licenses with the City of Red Wing and Unit 1 has a Short Term Rental License. The building last passed the City of Red Wing's rental inspection in late 2025. In the last few years, the owners have added a whole house water softener, put in a new boiler that heats units 1 and 2, installed new water heaters in both Units 1 and 2, installed new flooring in the entryway and kitchen of Unit 1, and installed new flooring throughout Unit 3.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$265,000
Price per sq ft:
$108
Property Type:
Multi-family
City:
Red Wing
Garage Spaces:
0
County:
Goodhue
Year Built:
1880
State:
MN
Property Style:
Triplex
Zip Code:
55066
Subdivision Name:
City/Red Wing
Interior
Bedrooms:
5
Bathrooms:
3
Finished Area:
2,449 ft2
Living Area:
2,449 ft2
Refrigerators:
Three
Basement Details:
- Owner Access
- Partial
- Unfinished
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,502 ft2
Foundation Dimensions:
Irregular
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Boiler
Parking Features:
On-Street Parking Only
Shared Amenities:
Porch
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Sidewalks
Roof Details:
- Age Over 8 Years
- Asphalt
- Pitched
Rooms
Laundry:
In Unit
Lot & Land
Acres:
0.1
Geolocation:
44.562423, -92.530089
Lot Dimensions:
60 x 76
Zoning:
Residential-Multi-Family
Lot Description:
Corner Lot
Farm
Topography:
Level
Schools
School District:
1183
District Phone:
6513854500
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$2,033
Annual Fuel Expense:
None
Annual Insurance Expense:
$2,274
Annual Maintenance Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
$4,239
Tenant Expenses:
Broadband, Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$3,776
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$3,776
Income
Annual Gross Income:
$41,911
Misc. Annual Income:
None
Misc. Monthly Income:
None
Rent
Annual Net Income:
$22,531
Units
Total Units:
3
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.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Draz Real Estate Inc..
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.