10 1st Avenue NW, Wells, MN 56097 (MLS# 7016268)

10 1st Avenue NW, Wells, MN 56097

$315,000
Property Type: Commercial Square Footage: 6,962 Lot Size (sq. ft.): 6,970 Status: Active
Current Price: $315,000 List Date: 2/03/2026 Last Modified: 7/30/2026

Overview

Description

10-unit apartment building for sale, stand alone building in Wells, MN. Self-sustained asset with recent improvements and improved tenancy. 2 studios, 4 single bedrooms, 4 two-bedrooms units. Owner laundry: washer and dryer - not coin operated. Unfinished basement used for storage and supplies. Other rental storage spaces for future opportunity. On street parking. 1 vacancy of a 2-bedroom unit currently being remodeled. Great opportunity for long tern or short term lease.

Listing Details MLS# 7016268

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
10
Owner Occupied
No
Waterfront YN
No
Year Built
1948
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
3481
For Sale or Lease
For Sale
Acres
0.16
Lot Dimensions
70x100
Assessment Pending
Unknown

Property Features

Accessible: None Air Conditioning: Window Unit(s) Amenities Shared: Porch Assumable Loan: Not Assumable Basement: Storage Space; Unfinished CMU Style: Apartments/Multi Family Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone; Fiber Board Fencing: None Foundation: Concrete Block; Stone Fuel: Natural Gas Heating: Baseboard; Boiler; Forced Air Loan Terms: Cash; Conventional; Other Location Description: Free Standing On Site Utilities: Electric Separate; Heating Separate; Hot Water Common Pool Description: None Road Frontage: City Street; Paved Streets Road Responsibility: Public Maintained Road Roof: Flat; Rubber Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity Topography: Level Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
315000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
10
Street Name
1st
Street Suffix
Avenue
Street Direction Suffix
NW
Postal City
Wells
County
Faribault
State
MN
Zip Code
56097
Complex/Dev/Subdivision
Village/Wells

Assessments

Tax With Assessments
6334

Building Information

Building Finished SqFt
6800
Building SqFt
6962

More Information

Income and Expenses

Annual Gross Income
58249

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Sale Options

Sale Includes
Building, Leases

Unit 1

No. of 1 Bedroom Units
4

Unit 2

No. of 2 Bedroom Units
4

Unit Details

Total Units
10

Unit Information

No. of Efficiency Units
2
IDX
Listing Office: RE/MAX Results
Last Updated: July - 30 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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