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$ 259,900
Est. payment /mo
Pending
416 8th ST NW Faribault, MN 55021
6 Beds
4 Baths
2,736 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Pending
Purchase Type For Sale
Square Footage 2,736 sqft
Price per Sqft $94
Subdivision Paquins 2Nd Add
MLS Listing ID 6825777
Bedrooms 6
Year Built 1900
Annual Tax Amount $3,806
Tax Year 2025
Contingent None
Lot Size 0.402 Acres
Lot Dimensions 99x177
Property Sub-Type Fourplex
Property Description
Excellent investment opportunity priced to meet the 1% rule in a highly convenient location just minutes from downtown Faribault, with quick access to I-35 and Highway 60. This property is now a fixer-upper with strong value-add potential. The building features four units: two 2-bed/1-bath units and two 1-bed/1-bath units, with only 2 units currently rented. Rents are below market, offering significant upside for a new owner willing to renovate and stabilize the property. With tall ceilings and plenty of character throughout, this property has great bones and long-term potential. Additional amenities include ample on-site parking, a garage, and a storage shed. The price has been discounted to reflect the condition, giving the next owner an excellent opportunity to create instant equity through improvements and increased rental income.
Location
State MN
County Rice
Rooms
Basement Partial
Interior
Heating Forced Air
Fireplace No
Exterior
Garage Spaces 1.0
Roof Type Asphalt
Building
Story Two
Foundation 1380
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
New Construction false
Schools
School District Faribault
Listed by Thomas Schiffler • Premier Real Estate Services