Turnkey 5-Unit Multifamily Investment

815 W 4th St, Red Wing, MN 55066

Property Information

  • For Sale $370,000
  • Property Type Multi-Family
  • Property Size 2,829 SF
  • Units 5
  • Lot Size 0.19 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 1880
  • Year Renovated 2025
  • Date Updated Nov 7, 2026

Description

Conveniently located near downtown Red Wing, local amenities, and the Mississippi River.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.

Highlights

  • Convenient Parking & Access: Features dedicated on-site, off-street parking for tenants along with ample street parking
  • 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.
  • 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.
  • Recent Capital Improvements: Updates including a new boiler (2025), water heater (2020), roof (2018), and $24,000 in foundation enhancements.
  • 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).
  • Value-Add Upside: Recover owner-paid utility expenses.

Contacts

Location

  • 78/100 Very Walkable
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