For Sale: Red Wing MLS# 7135020
Active
NEW!
$1,290,000
Commercial: 2 Stories
Built 1965
0.38 acres
Red Wing schools
MLS# 7135020
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Property Description
The Downton Abbey is located in the historic city of Red Wing, Minnesota. Just a few short blocks to the downtown central business district and the iconic St. James Hotel. Claimed to be one of the oldest cities in all of Minnesota, it is storied with a rich history. Originally built in 1965 for the sisters of Saint Jospeh parish as a convent, this stunning three story all-brick building was transformed in 2025-2026 with six well-appointed units. There are two 3-bedroom, two 2-bedroom, and two 1-bedroom apartments spread out over the main and upper floors. The interior has been totally updated with new custom kitchens, quartz countertops, undermount sinks, stainless steel appliances including full size dishwashers and built-in microwaves, and energy-efficient Whirlpool name-brand stack washers and dryers in all apartments. The exterior has received a 30-year pitched asphalt shingled roof, Andersen series 100 windows, and the brick was tuck-pointed. The units offer luxury vinyl plank flooring, LED lighting, Kohler plumbing fixtures, tiled shower surrounds, two panel shaker interior doors, and plush carpeting in the bedrooms. Brand new electrical, plumbing, and sprinkler systems installed. Sits on an oversized corner lot with 0.38+ acres and a freshly laid 12-stall parking lot for residents to enjoy. Walking distance to shops, restaurants, churches, and the entertaining Sheldon Theatre of performing arts!
PROPERTY FACTS:
Year Built: 1965
Years Renovated: 2025-2026
Units: 6 garden style apartments
Square Footage: Building total 8, 400+ sqft
Zoning: Multiple-dwelling
Parking: 12 off-street parking spots
Exterior: All-brick and stone exterior
Heating: Individual electric furnaces / tenants pay their own unit heat
Air Conditioning: Central air conditioning units / tenants pay their own AC
Roof: Pitched roof new in 2025
Laundry: Each unit has a Whirlpool name brand stack Washer and Dryer unit / seller owned
Storage: There are extra rooms in the lower level for tenant storage lockers
UNIT DESCRIPTIONS:
1 - Three Bedroom, Two Bath - Approx. 1, 015+ Sqft. / Average rent $2, 100.00
1 - Three Bedroom, One Bath - Approx. 940+ Sqft. / Average rent $1, 950.00
2 - Two Bedroom, One Bath - Approx. 560+ Sqft. / Average rent $1, 650.00
2 - One Bedroom, One Bath - Approx. 445+ Sqft / Average rent $1, 350.00
PROPERTY IMPROVEMENTS:
Hallways and common areas recently painted and carpeted (2025)
Newer hot water heaters (2025)
Brand new forced air furnaces and central AC (2025)
Exterior concrete steps and sidewalk (2026)
Brand new Andersen Series 100 double-hung windows throughout the building (2025)
Apartment entrance steel doors recently repainted
All six of the apartments have been totally renovated from top to bottom with newer luxury vinyl plank flooring (LVP), carpet in bedrooms, new trim and doors, drywall and fresh paint, new tiled bathrooms and vanities, new custom kitchen cabinets and quartz countertops, new light fixtures, new blinds, and stainless steel appliance package.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,290,000
Property Type:
Commercial
City:
Red Wing
Garage Spaces:
0
County:
Goodhue
Year Built:
1965
State:
MN
Property Style:
2 Stories
Zip Code:
55066
Subdivision Name:
Todd & Douds Sub
Interior
Ceiling Height:
8-10
Flooring:
Carpet, Luxury Vinyl Plank
Refrigerators:
One Per Unit
Appliances Included:
- Dishwasher
- Dryer
- Microwave
- Range
- Refrigerator
- Washer
Basement Details:
- Block
- Full
- Unfinished
Exterior
Stories:
Two
Garage Spaces:
0
Air Conditioning:
Central Air
Foundation Size:
2,800 ft2
Fencing:
Wood
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Forced Air
- Heat Pump
Parking Features:
- Parking Lot
- Paved Lot
Unit Amenities:
- Cable
- Ceiling Fan(s)
- Kitchen Center Island
- Paneled Doors
Road Frontage:
City Street
Exterior Material:
- Brick
- Concrete
Pool:
None
Roof Details:
- Age 8 Years or Less
- Asphalt
- Pitched
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.38
Geolocation:
44.560267, -92.530971
Inclusions:
Building, Fixture/Equipment, Inventory, Land, Rental License
Lot Dimensions:
120 x 150
Zoning:
Residential-Multi-Family
Lot Description:
- Corner Lot
- Sod Included in Price
Farm
Topography:
Level
Schools
School District:
256
District Phone:
6513854500
Expenses
Annual Caretaker Expense:
$1,200
Annual Electric Expense:
$800
Annual Fuel Expense:
None
Annual Insurance Expense:
$6,219
Annual Maintenance Expense:
$1,500
Annual Trash Expense:
$1,620
Annual Water/Sewer Expense:
$3,987
Tenant Expenses:
Broadband, Cable TV, Electricity
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$8,225
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$8,225
Income
Annual Gross Income:
$118,188
Rent
Annual Net Income:
$91,735
Units
Total Units:
6
Miscellaneous
Current Use:
Residential
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Apartment Cash Flow, Inc..
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.