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815 W 4th Street, Red Wing, MN 55066

New Listing

$374,900

Property Type: Commercial Bedrooms: 5 Baths: 5 Lot Size (sq. ft.): 10,019 Status: Active

Current Price: $374,900 List Date: 5/28/2026 Last Modified: 5/28/2026

Overview

Description

Turnkey 5-Unit Investment Opportunity in Red Wing! Fully leased 5-plex in a desirable, walkable historic neighborhood just minutes from downtown and the Mississippi River. Property features 4 one-bedroom units and 1 studio, generating $5,075/month in gross rental income with continued upside potential. Recent improvements include updated interiors, flooring, paint, and major mechanicals: new boiler (2025), water heater (2020), and roof (2018)—helping minimize near-term capital expenses. Generous lot with on-site and street parking. Strong rental demand area with consistent occupancy—ideal for investors seeking a stable, income-producing asset with upside!!

Listing Details MLS# 7082352

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 5
Owner Occupied: No
Waterfront Present: No
Year Built: 1880
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 395
Power Company: Xcel Energy
For Sale or Lease: For Sale
Acres: 0.23
Lot Dimensions: .23 Acres
Assessment Pending: No
Garage Stalls: 0

Property Features

Accessible: None Air Conditioning: Window Unit(s) Amenities Shared: Porch Amenities Unit: Porch Appliances: Range; Refrigerator Assumable Loan: Not Assumable Basement: Partial CMU Style: Apartments/Multi Family Construction Status: Previously Owned Current Use: Residential Existing Financing: Conventional Exterior: Metal Fencing: None Flooring: Carpet; Wood Foundation: Stone Fuel: Natural Gas Heating: Baseboard; Boiler; Radiant Internet Options: Cable; Fiber Optic Loan Terms: Cash; Conventional Location Description: Downtown Lock Box Type: Combo Lot Description: Irregular Lot; Tree Coverage - Light On Site Utilities: Electric Common; Heating Common; Hot Water Common Owner Pays: Electricity; Fuel; Insurance; Lawn; Lawn; Snow Removal; Taxes; Trash Collection Parking Characteristics: Assigned Potential Use: Income Rent Rate per Foot: Per Month Road Frontage: City Street Roof: Age 8 Years or Less; Asphalt Shingles Sewer: City Sewer/Connected Stories: Two Tenant Pays: Broadband; Cable TV Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 374900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 815
Street Direction Prefix: W
Street Name: 4th
Street Suffix: Street
Postal City: Red Wing
County: Goodhue
State: MN
Zip Code: 55066
Complex/Dev/Subdivision: City/Red Wing

Assessments

Tax With Assessments: 4206
Assessment Balance: 0

Building Information

Building Finished SqFt: 2829
Building SqFt: 3224

More Information

Income and Expenses

Annual Electric Expense: 2757
Annual Fuel Expense: 2757
Annual Gross Expenses: 18682
Annual Gross Income: 62100
Annual Insurance Expense: 5998
Annual Maintenance Expense: 1000
Annual Net Income: 43418
Annual Repair Expense: 1000
Annual Trash Expense: 1000
Annual Water/Sewer Expense: 4170
Total Annual Expenses: 18682
Annual Caretaker Expense: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building, Land

Unit 1

Unit Number: Yes
Monthly Rent: 975
Three-Quarter Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: Yes
Leased?: Yes
Lease Expiration Date: 2026-08-31
No. of 1 Bedroom Units: 5

Unit 2

Full Baths: Yes
Lease Expiration Date: 2027-03-31
Leased?: Yes
Monthly Rent: 1100
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 4
Unit Number: 2

Unit 3

Full Baths: Yes
Lease Expiration Date: 2026-11-30
Leased?: Yes
Monthly Rent: 1000
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 4
Unit Number: 3

Unit 4

Full Baths: Yes
Lease Expiration Date: 2026-05-31
Leased?: Yes
Monthly Rent: 1100
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 4
Unit Number: 4

Unit 5

Full Baths: Yes
Lease Expiration Date: 2026-05-31
Leased?: Yes
Monthly Rent: 1000
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 4
Unit Number: 5

Unit Details

Total Units: 5

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: ORIGINAL PLAT DOC#650566 LOT 8 BLK 17 EX ELY 13FT; ELY 10FT LOT 9 ID# 5-0050-17800
Listing City: Red Wing
Map Page: 999
Municipality: Red Wing
School District: Red Wing
School District Phone: 651-385-4500
Property ID Number: 550051850
Tax Year: 2025
Tax Amount: 4206
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Turnkey 5-Unit Investment Opportunity in Red Wing! Fully leased 5-plex in a desirable, walkable historic neighborhood just minutes from downtown and the Mississippi River. Property features 4 one-bedroom units and 1 studio, generating $5,075/month in gross rental income with continued upside potential. Recent improvements include updated interiors, flooring, paint, and major mechanicals: new boiler (2025), water heater (2020), and roof (2018)—helping minimize near-term capital expenses. Generous lot with on-site and street parking. Strong rental demand area with consistent occupancy—ideal for investors seeking a stable, income-producing asset with upside!!
Directions: Main St to W Ave, R on 4th St, Property on Left

Accessible

None: Yes

Air Conditioning

Window Unit(s): Yes

Amenities Shared

Porch: Yes

Amenities Unit

Porch: Yes

Appliances

Range: Yes
Refrigerator: Yes

Assumable Loan

Not Assumable: Yes

Basement

Partial: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Conventional: Yes

Exterior

Metal: Yes

Fencing

None: Yes

Flooring

Carpet: Yes
Wood: Yes

Foundation

Stone: Yes

Fuel

Natural Gas: Yes

Heating

Baseboard: Yes
Boiler: Yes
Radiant: Yes

Internet Options

Cable: Yes
Fiber Optic: Yes

Lock Box Type

Combo: Yes

Lot Description

Irregular Lot: Yes
Tree Coverage - Light: Yes

Owner Pays

Electricity: Yes
Fuel: Yes
Insurance: Yes
Lawn: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes

Parking Characteristics

Assigned: Yes

Patio, Porch and Deck Features

Porch: Yes

Road Frontage

City Street: Yes

Roof

Age 8 Years or Less: Yes
Asphalt Shingles: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Water

City Water/Connected: Yes

No. of Ranges

Five: Yes

No. of Refrigerators

Five: Yes

Tenant Pays

Broadband: Yes
Cable TV: Yes

On Site Utilities

Electric Common: Yes
Heating Common: Yes
Hot Water Common: Yes

CMU Style

Apartments/Multi Family: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Location Description

Downtown: Yes

Potential Use

Income: Yes

Rent Rate per Foot

Per Month: Yes

Listing Office: RE/MAX Results

Last Updated: May - 28 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.