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Richfield, MN Multifamily Home for Sale

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    $400,000

    • 2 Beds
    • 1 Bath
    • 2,250 Sq Ft

    321 W 74th St, Richfield, MN 55423

    Discover the potential of this duplex located at 321-323 74th St W, Richfield. The main level features 2 bedrooms and 1 bathroom, while the upper unit offers 3 bedrooms and 1 bathroom, providing ample living space. The current rent is below market value, and both units are on the month-to-month lease, offering flexibility for new owners.This property promises excellent cash flow potential,

    Aileen Chan Edina Realty, Inc.

    321 W 74th St, Richfield, MN 55423

Why Live in Richfield

Richfield, Minnesota, known as "The Urban Hometown," is a small city with a population of nearly 40,000, offering a blend of big-city amenities and a small-town atmosphere. Located next to the Minneapolis–Saint Paul International Airport and close to the Mall of America, Richfield is highly accessible for work and travel. The city is characterized by single-family homes, primarily bungalows and ranch-style houses built in the '50s and '60s, which sell quickly due to low inventory and competitive pricing. Richfield Public Schools provide various educational options, including charter and parochial schools. The city boasts 23 parks, with Veterans Park and Wood Lake Nature Center being standout community resources. Veterans Park features hiking and biking paths, a memorial for local veterans, and recreational facilities like swimming pools and mini golf. Wood Lake Nature Center offers walking trails and wildlife spotting, with plans for a new building to enhance its educational programs. Richfield's dining scene includes local favorites like Giordano's for deep-dish pizza and Patrick's Bakery & Café, alongside grocery stores such as Lakewinds Food Co-op and ALDI. Shopping options are plentiful, with big-box retailers along Interstate 494 and the Mall of America just a mile away. The city is safer than the national average, making it a practical choice for families. Richfield also hosts community events like the Richfield Farmers Market and offers resources like the Augsburg Park Library, fostering a close-knit community atmosphere.

Home Trends in Richfield, MN

Housing Trends

Median Sale Price
$390,000
Median Single Family Sale Price
$390,000
Median Townhouse Sale Price
$255,000
Average Price Per Sq Ft
$273
Number of Homes for Sale
2
Last 12 months Home Sales
17
Months of Supply
1.40
Median List Price
$430,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
18%
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