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For Sale:  Farmington MLS# 6774761

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Active NEW!
$147,900
/mo Edit
Multi-family:  Four Plex
Built 1920
0.45 acres
Farmington schools
MLS# 6774761
763-576-8286
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    Property Description

    Looking for a property with endless investment and/or owner-occupant potential? This is it! Central downtown Farmington location -this property has a multitude of uses. Restore it to its former glory as a fourplex that was bringing in over $4k per month gross rents years ago (potential to be $5k/mo + at current market rates). Or... combine units into a larger triplex, duplex, or transform it into a huge single-family home, even tear down and rebuild new - the half acre of land is worth the asking price alone. Potential commercial uses are feasible as well - the possibilities are truly endless. Strong rental demand in the area and extensive revitalization underway in downtown Farmington make for great future upside potential. Suffered moderate fire damage and is in need of substantial repair - priced accordingly. Good bones! Check it out for yourself and let your imagination run wild with the possibilities!

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $147,900
    Property Type: Multi-family
    City: Farmington
    Garage Spaces: 0
    County: Dakota
    Year Built: 1920
    State: MN
    Property Style: Four Plex
    Zip Code: 55024
    Subdivision Name: Town Of Farmington

    Interior

    Basement Details: Partial

    Exterior

    Stories: Two
    Garage Spaces: 0
    Foundation Size: 1,913 ft2
    Handicap Accessible: None
    Heating System: Hot Water
    Parking Features: Asphalt
    Exterior Material: Other
    Roof Details: Age Over 8 Years

    Lake & Waterfront

    Waterfront Present: Y
    Waterfront Name: Vermillion River
    DNR Lake ID#: S9990225
    Lake Chain Name: N
    Lake Acres: 0
    Lake Depth: 0
    Waterfront: River Front

    Lot & Land

    Acres: 0.45
    Geolocation: 44.643268, -93.144894
    Lot Dimensions: 60 x 262 x 63 x 217

    Schools

    School District: 192
    District Phone: 651-463-5000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: None
    Annual Maintenance Expense: None
    Annual Gross Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: None

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $1,910
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $1,910

    Income

    Annual Gross Income: $4,800

    Units

    Total Units: 2

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

    Mortgage Calculator

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    Payment:  /mo

    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!

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    Listing provided by RMLS, courtesy of RE/MAX Results.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.