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1402 Division Street W, Faribault, MN 55021
sale
$800,000
|
Other
Courtesy Of Keller Williams Preferred Realty
**Prime Investment Opportunity: Eight-Unit Apartment Building in Faribault, MN** This eight-plex apartment building presents a compelling investment prospect in the highly desirable location of Faribault, Minnesota. Situated in the heart of the city, the property offers exceptional convenience to shopping, dining, and entertainment venues, making it an attractive residential choice. This multi-family building, comprised of eight units, features below-market rental rates, providing significant potential for future revenue growth. Each unit boasts a functional floor plan with two bedrooms, one bathroom, and access to a shared detached garage. Notably, two units have been fully renovated, demonstrably increasing income potential within this high-demand rental market. Identical floorplans across all eight units include a living room, coat closet, kitchen equipped with an electric stove and refrigerator, a full bathroom, and two bedrooms. Furthermore, all units benefit from newly installed windows in 2022. Each unit is allocated a dedicated garage space and an additional surface lot parking spot, ensuring ample parking for residents. The building also offers the convenience of coin-operated laundry facilities. Ongoing renovations are underway in one additional unit, further enhancing the property's value. Currently operating with month-to-month leases, this building allows a new owner to assess and optimize rental rates and tenant occupancy strategically. Located in close proximity to restaurants, gas stations, schools, highways, and other key regional amenities, this property represents a profitable opportunity to capitalize on the growing demand for rental housing in Faribault.
Copyright © 2025 Regional Multiple Listing Service of Minnesota [NorthStarMLS]. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Property Features
- Age: 41-50 Years Old
- Appliance: Refrigerator
- Appliance: Water - Softener
- Appliance: Range
- Architecture Style: Other
- Heating System: Baseboard
- Legal Description: PART S2 L22 ST SUB NE4 BAP S LI L22 S89D34'58"W 120.73FT WLY SE COR L22 TH S89D34'58"W 150.28FT TH N0D25'02"W 168.95FT TH N89D34'58"E 150.72FT TH S0D16'07"E 168.95FT TO POB 8 UNITS
- MLSID: 6676105
- Roof Type: Asphalt
- Roof Type: Shingle
- Rooms: Bedroom 5
- Rooms: Bedroom 4
- Rooms: Bedroom 3
- Rooms: Bedroom 2
- Rooms: Bedroom 1
Directions to This Property
1402 Division Street W, Faribault, MN 55021
Demographic Data for 1402 Division Street W, Faribault, MN 55021
Average Age
40
Married
46%
Number of Homes
11,598
Homes with Children
30.15%
Occupation Type
Transportation to Work
Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
