480 8th St - Apartments FOR SALE


Red Wing, MN 55066 | 
$1,290,000 USD
651-263-3653
480 8th St, Red Wing, MN for Sale
$1,290,000 USD
Apartments - FOR SALE
1/47
null | 7.11% Cap Rate

480 8th St
Red Wing, MN 55066


HIGHLIGHTS

  • 2025 - New roof, pitched asphalt shingled
  • 2025 - New Andersen series 100 windows
  • 2025 - New kitchens with stainless steel appliances including microwaves and dishwashers
  • 2026 - New 12-spot parking lot with curb and gutter
  • 2026 - New landscaping

OVERVIEW

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 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!

FOR SALE DETAILS

PRICE

$1,290,000 USD

PRICE/SF

$156 USD /SF

# OF UNITS

6

PRICE/UNIT

$215,000

CAP RATE

7.11%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,513 SF

ZONING

Multifamily

APN/PARCEL ID

55.550.0040

ASK ABOUT THIS PROPERTY

Nathan OpatzApartment Cash Flow, IncMore Info
651-263-3653

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Nathan OpatzApartment Cash Flow, IncMore Info
651-263-3653

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.