400 4Th Ave Wells, MN 56097
- Apartment buildings
- 21,284 SF
- 5.19 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 400 4Th Ave
- Lot size
- 5.19 lot acres
- Property size
- 21,284 SF
- Property type
- Apartment buildings
Description
This exceptional 18-unit apartment building in Wells, Minnesota presents a compelling investment opportunity. Located at 400 4th Ave SW, 56097, this multifamily property boasts a substantial 21,284 square feet of living space situated on a generous 5.19-acre lot. The property currently generates a Net Operating Income (NOI) of $125,000, yielding an attractive 8.62% capitalization rate. The asking price is $1,450,000. All 18 units are consistently occupied, reflecting the high demand for rental housing in the Wells area. The property includes a valuable amenity: a 10-car garage/storage building. The expansive lot offers significant potential for future expansion, with ample space to construct additional buildings on either side of the existing structure. This property is conveniently located near schools, making it an attractive option for families. The building has undergone recent renovations, ensuring its continued appeal to tenants. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset with significant upside potential in a strong rental market. The property's size and location make it an ideal investment for both seasoned and emerging real estate investors.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wells
- County
- Faribault
- State
- Minnesota
- Longitude
- -93.7322
- Latitude
- 43.7411
