Well-positioned four-plex offering strong income potential and long-term investment stability in the community of Wadena. This 1,560 sq. ft. property features a total of 5 bedrooms and 4 bathrooms across four self-contained units, making it well suited for investors seeking diversified rental income within a single asset. Current tenancy includes three occupied units with one vacant suite, providing immediate upside through lease-up. Existing rents total $2,700/month, with market rents supporting approximately $4,100/month when fully stabilized (utilities included), offering a clear path to improved cash flow. Capital improvements include an updated furnace and new plumbing, helping reduce near-term maintenance risk and support long-term asset durability. The unit mix and utility-included rent structure align well with local tenant demand, contributing to consistent occupancy potential. The seller prefers to sell this property as part of a portfolio package alongside 245 3rd Street and 633/635 3rd Street, presenting a rare opportunity to acquire multiple income-producing properties in one transaction. Ideal for investors seeking scale, value-add potential, and long-term rental performance in a growing regional market. (id:47421)
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Detailed Information
Bedrooms
5
Bathrooms
4
Features
Corner Site, Irregular lot size
Listing Contract Date
2026-01-23
Ownership Type
Freehold
Property Type
Single Family
Transaction Type
For sale
Building
Appliances
Washer, Refrigerator, Dryer, Stove
Architectural Style
Bi-level
Basement Development
Finished
Basement Type
Full (Finished)
Constructed Date
1970
Construction Style (Attachment)
Attached
Heating Type
Forced air
Type
Fourplex
Rooms
Room
Level
Dimensions
Notes
Kitchen
Basement
9 ft 10 in x 7 ft 10 in
Living room
Basement
13 ft 5 in x 13 ft 11 in
4pc Bathroom
Basement
4 ft 11 in x 6 ft 6 in
Bedroom
Basement
9 ft x 16 ft 6 in
Other
Basement
4 ft x 14 ft
Laundry room
Basement
9 ft 6 in x 14 ft
Kitchen
Basement
7 ft 11 in x 9 ft 6 in
Living room
Basement
13 ft 4 in x 13 ft
4pc Bathroom
Basement
4 ft 11 in x 6 ft 5 in
Bedroom
Basement
12 ft x 9 ft 7 in
Kitchen
Main level
7 ft 9 in x 13 ft 1 in
Living room
Main level
14 ft 4 in x 13 ft 1 in
4pc Bathroom
Main level
5 ft x 7 ft
Bonus Room
Main level
10 ft 9 in x 7 ft 9 in
Bedroom
Main level
11 ft 3 in x 11 ft 11 in
Kitchen
Main level
7 ft 9 in x 13 ft 1 in
Living room
Main level
14 ft 4 in x 13 ft 1 in
4pc Bathroom
Main level
5 ft x 7 ft
Bedroom
Main level
10 ft 9 in x 7 ft 9 in
Bedroom
Main level
11 ft 3 in x 12 ft
Parking Spaces
Name
Spaces
Gravel
Parking Space(s)
4
Land
Total Size
0.27 acres
Size of Irregular Land
0.27
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