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About the Listing 40490 - 502047923
Investment opportunity in the heart of downtown Faribault. This 9-unit mixed-use property consists of eight renovated residential apartments and one commercial space. The residential units have been extensively renovated with updated kitchens, bathrooms, flooring, and finishes, along with new electric baseboard heat, allowing residents to control and pay for their own heating costs. Additional capital improvements include a newer roof with a transferable warranty and a new fire panel. The commercial space is leased through December 2030, providing in-place income, while the eight renovated residential units are currently vacant, giving the next owner the opportunity to complete lease-up and stabilize the property. Commercial tenant pays their own gas/electric/trash/sewer/internet and is in charge of HVAC maintenance. Convenient downtown location near businesses, restaurants, and services. An opportunity to acquire a substantially improved mixed-use asset with much of the renovation and capital improvement work already completed.
Listing Highlights
Interior Details
- Bedrooms: 8
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating: Baseboard,Natural Gas
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water: City Water/Connected
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 50x66
- Zoning: Business/Commercial
- Roof:
- Others:
- Sewer: City Sewer/Connected
Financial Details
- Tax Amount: $6,336
- Taxes w/Assessments: N/A
- Tax/Property ID: 1831126282
- Tax Year: 2026
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
14 3rd St NW Faribault, MN 55021
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