520 Ravine St Faribault, MN 55021
- Apartment buildings
- 4,781 SF
- 0.44 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 520 Ravine St
- Year built
- 1900
- Lot size
- 0.44 lot acres
- Property size
- 4,781 SF
- Property type
- Apartment buildings
Description
This exceptional 5-unit apartment building presents a unique investment opportunity in the heart of historic Faribault, Minnesota. Situated on a 0.44-acre lot at 520 Ravine Street, this 4,781 square foot property boasts classic architectural details including original hardwood floors and elegant arched doorways, creating a warm and inviting atmosphere for residents. Its prime location offers convenient access to downtown amenities, the Minnesota Academy for the Deaf, and the prestigious Shattuck-St. Mary's School, ensuring high tenant demand. Each unit benefits from on-site laundry facilities, and off-street parking is provided. The property's layout is well-suited for an owner-occupant seeking both comfortable living and a reliable income stream. This versatile property offers a blend of historic character and modern convenience, making it an ideal addition to any investment portfolio or a perfect opportunity for a homeowner seeking rental income. The asking price is $450,000. This is a rare chance to acquire a piece of Faribault's rich history with significant future potential. The property's strong location and desirable features make it a compelling investment.
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
- Faribault
- County
- Rice
- State
- Minnesota
- Longitude
- -93.25971
- Latitude
- 44.29493
