Closed

$715,000

16578 Franklin Trl SE, Prior Lake, MN 55372

11beds

4baths

4,160sqft

Multi Family

Built in 1978

-- sqft lot

$-- Zestimate^®

$172/sqft

$1,978 Estimated rent

Home value

Not available

Estimated sales range

Not available

$1,978/mo

Zestimate^® history

Owner options

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$1,978/mo

Rent Zestimate^®

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$4,420/mo

Est. payment

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$4,420/mo

Est. payment

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What's special

Stained decksFresh exterior paintGuest parkingPaved parking lotAssigned spacesTwo decksUpdated kitchens

Impeccably maintained 4-plex! Seller prefers to sell with twin building at 16558 Franklin Trail, offering a unique opportunity to acquire two well-kept investment properties as a package. Each building has three 3-bedroom units, one 2-bedroom unit, and a paved parking lot with five garage stalls, assigned spaces, and guest parking. Recent updates include half the units with updated kitchens and baths, fresh exterior paint, stained decks, and sealed/numbered driveways. Added perks: coin-op laundry, two decks, two patios, and a 2012 roof replacement. Long-term tenants and below-market rents (see supplement) present strong upside potential. Don’t miss this chance for a high-quality, low-maintenance investment!

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 11
Bathrooms: 4

Heating

Forced Air

Appliances

Laundry: Coin-op Laundry Owned

Features

Basement: Daylight,Drain Tiled,Sump Pump

Interior area

Total structure area: 4,160
Total interior livable area: 4,160 sqft
Finished area above ground: 2,080
Finished area below ground: 2,080

Property

Parking

Total spaces: 5
Parking features: Assigned, Detached Garage, Asphalt, Shared Driveway, Garage Door Opener, No Int Access to Dwelling
Garage spaces: 5
Has uncovered spaces: Yes

Accessibility

Accessibility features: None

Features

Levels: One
Fencing: Chain Link,Partial

Lot

Size: 0.42 Acres
Dimensions: 181 x 104 x 188 x 116
Features: Corner Lot

Details

Foundation area: 2080
Parcel number: 251670010
Zoning description: Residential-Multi-Family

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Roof: Age Over 8 Years,Asphalt

Condition

New construction: No
Year built: 1978

Utilities & green energy

Gas: Natural Gas
Sewer: City Sewer/Connected
Water: City Water/Connected

Community & HOA

Community

Subdivision: Bluff Hts

HOA

Amenities included: Coin-op Laundry Owned

Location

Region: Prior Lake

Financial & listing details

Price per square foot: $172/sqft
Tax assessed value: $568,200
Annual tax amount: $6,928
Date on market: 1/2/2025
Cumulative days on market: 48 days
Tenant pays: Electricity, Fuel
Road surface type: Paved

Price history

Date	Event	Price
1/31/2025	Sold	$715,000-4.7%$172/sqft
Source: NorthstarMLS as distributed by MLS GRID #6622443 Report a problem
1/2/2025	Pending sale	$750,000$180/sqft
Source: NorthstarMLS as distributed by MLS GRID #6622443 Report a problem
11/25/2024	Listing removed	$750,000$180/sqft
Source: NorthstarMLS as distributed by MLS GRID #6622443 Report a problem
11/1/2024	Listed for sale	$750,000+88.7%$180/sqft
Source: NorthstarMLS as distributed by MLS GRID #6622443 Report a problem
11/13/2007	Sold	$397,500$96/sqft
Source: Lake Superior Area Realtors as distributed by MLS GRID #1824229 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$6,806 -1.8%	$568,200
2024	$6,928 +15.9%	$568,200 +0.9%
2023	$5,978 +3.9%	$563,000 +12.4%
2022	$5,754 -1.9%	$500,700 +22.3%
2021	$5,864 +5.4%	$409,568 +9.9%
2020	$5,564	$372,800 0%
2019	$5,564 +14.5%	$372,832
2018	$4,860 +11.9%	--
2016	$4,342	--
2014	$4,342	--
2013	--	$260,000
2012	--	$260,000 -22%
2010	$5,004 +3.9%	$333,300
2009	$4,818 -13.4%	$333,300
2008	$5,566 -2.5%	--
2007	$5,706 +4.8%	--
2006	$5,446 +22.1%	--
2005	$4,460 +14.1%	--
2004	$3,908 +30.8%	--
2003	$2,988 -11.9%	--
2002	$3,390 -29%	--
2001	$4,772	--