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226 7th Ave NW, Faribault 226 7th Ave NW 7 Unit Apartment Building $525,000 ($75,000/Unit) Faribault, MN 55021
Executive Summary
This stately 1890s multi-family residence is a standout example of craftsmanship and opportunity in the heart of Faribault. Configured as a unique seven-unit property, it offers strong income potential with a proven rental layout. Timeless character shines throughout, highlighted by classic hardwood floors and distinctive architectural details. A large open-frame porch and striking exterior create impressive curb appeal, while the corner lot setting adds to its presence. The property also features a spacious basement, ideal for storage or maintenance, along with convenient gravel driveway parking. Designed for efficient management, the building includes common heating and separate electric utilities for each unit. Recent assessments reflect increasing value, and the solid stone foundation underscores its long-term durability. With the right vision and updates, there is an excellent opportunity to further enhance both value and appeal. Located near local amenities with easy highway access, this property presents a rare opportunity to own a piece of Faribault’s history while maximizing its investment potential.
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$68,760
|
$10.70
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$68,760
|
$10.70
|
| Taxes |
-
|
-
|
| Operating Expenses |
$9,360
|
$1.46
|
| Total Expenses |
$9,360
|
$1.46
|
| Net Operating Income |
$59,400
|
$9.24
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $68,760 |
| Annual Per SF | $10.70 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $68,760 |
| Annual Per SF | $10.70 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $9,360 |
| Annual Per SF | $1.46 |
| Total Expenses | |
|---|---|
| Annual | $9,360 |
| Annual Per SF | $1.46 |
| Net Operating Income | |
|---|---|
| Annual | $59,400 |
| Annual Per SF | $9.24 |
Property Facts
| Price | $525,000 | Building Class | C |
| Price Per Unit | $75,000 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 6,427 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1890 |
| Property Subtype | Apartment |
| Price | $525,000 |
| Price Per Unit | $75,000 |
| Sale Type | Investment |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 6,427 SF |
| No. Stories | 2 |
| Year Built | 1890 |
Amenities
Unit Amenities
- Hardwood Floors
- Refrigerator
- Range
- Porch
1 1
Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 18.31.2.51.023 | Total Assessment | $187,800 (2025) |
| Land Assessment | $39,300 (2025) | Annual Taxes | $0 ($0.00/SF) |
| Improvements Assessment | $148,500 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
18.31.2.51.023
Land Assessment
$39,300 (2025)
Improvements Assessment
$148,500 (2025)
Total Assessment
$187,800 (2025)
Annual Taxes
$0 ($0.00/SF)
Tax Year
2026
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226 7th Ave NW, Faribault | 226 7th Ave NW
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