Case Study: Repositioning a 5-Plex for Long-Term Growth in Faribault, MN
At Trekk Properties, we believe every investment property is part of a larger journey. Sometimes, moving forward requires making bold, intentional decisions.
The Challenge
This 5-plex in Faribault, MN had a long-term tenant who had occupied one of the units for nearly 9 years. The local landlord had been diligent, conducting annual inspections and addressing visible maintenance needs. However, over time, deeper issues accumulated beneath the surface.
When Trekk stepped in to manage the property, the true condition of the unit became clear:
- Significant wall damage, including multiple holes
- Peeling and deteriorating flooring
- Failing ceiling tiles
- A heavily worn, outdated bathroom
- Overall deferred interior maintenance
While much of the upkeep had been addressed over the years, the unit had reached a point where incremental fixes were no longer enough.
“Once we stepped into the property we saw how much work needed to be done. We are proud of our team for coming together and turning this around so quickly.”
– Terri Huber, Property Manager
The Trekk Approach
To protect the long-term value of the asset, Trekk made a strategic recommendation: do not renew the lease and take a proactive approach to reposition the unit.
From the moment of non-renewal notice to new tenant move-in, the full transformation was completed in just 5 months. A timeline that reflects both efficiency and intentional planning.
The renovation included:
- Full bathroom gut and rebuild
- Kitchen refresh with updated paint
- Replacement of failing ceiling tiles
- Brand-new flooring throughout
- Wall repairs and full interior repaint
- Installation of updated lighting fixtures
This wasn’t just a repair project — it was a reset. Every improvement was designed to create a clean, durable, and welcoming living space while reducing future maintenance risk.
The Outcome
The results were immediate and measurable:
- Previous Rent: $775/month
- New Rent: $1,100/month
- Timeline: 5 months from notice to stabilized occupancy
- Beyond the 42% increase in rent, the unit is now:
- Easier to maintain
- More attractive to quality residents
- Aligned with current market expectations
The upgraded unit also positively impacts the overall perception and value of the entire 5-plex.
“When management is proactive, collaborative, and accountable, properties perform better. This project highlights how Trekk’s approach creates lasting value for owners while building stronger communities.”
– Christine Jensen, Director of Residential Management
The Bigger Picture
This project highlights a common reality for many local landlords: even with consistent effort and good intentions, long-term tenancies can gradually mask deeper property needs.
Trekk Properties brings a different perspective. One that is rooted in proactive management, honest evaluation, and long-term thinking.
We’re not here to simply maintain the status quo. We’re here to help owners move forward. We work to improve their properties, strengthen their investments, and contribute to better housing in the communities we serve.
Trekk Team:
Terri Huber – Property Manager
Steve Olson – Maintenance Technician
David Miller – Maintenance Technician
Ruby Rodriguez – Property Manager Assistant