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416 8th Street NW, Faribault, MN 55021

$250,000
6
BD
4
BA
2,736
SqFt
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Sold Price
$250,000
List Price
$259,900
Closing Date
May 05, 2026
MLS#
6825777
Status
CLOSED
Type
Multifamily
Bedrooms
6
Bathrooms
4
Living Area
2,736
Acres
0.40
Subdivision
Paquins 2nd Add
Year Built
1900
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Call Shane Maki, Broker, 651-472-4012

Property Description

Excellent investment opportunity priced to meet the 1% rule in a highly convenient location just minutes from downtown Faribault, with quick access to I-35 and Highway 60. This property is now a fixer-upper with strong value-add potential. The building features four units: two 2-bed/1-bath units and two 1-bed/1-bath units, with only 2 units currently rented. Rents are below market, offering significant upside for a new owner willing to renovate and stabilize the property. With tall ceilings and plenty of character throughout, this property has great bones and long-term potential. Additional amenities include ample on-site parking, a garage, and a storage shed. The price has been discounted to reflect the condition, giving the next owner an excellent opportunity to create instant equity through improvements and increased rental income.

Call Shane Maki, Broker, 651-472-4012
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Additional Information

School District
Faribault
Tax Year
2025
Fuel
Natural Gas
Sewer
City Sewer/Connected
Roof
Asphalt
Heating
Forced Air
Water
City Water/Connected
Basement
Partial
Garage Spaces
1
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Listing courtesy of Premier Real Estate Services.

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