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220 E 7th St, Albert Lea, MN 56007

  • $249,900

    •

  • 4

    bed

  • 4

    bath

  • 2,800

    Sqft ($89/Sqft)

Multi-family for sale 4 days
Movoto is helping 24 homebuyers near you

About 220 E 7th St

Property type Multi-family
Year built 1949
HOA fee $0/month
Lot size 7,000 Sqft
Movoto estimate
Parking 2 garage spaces
Property description
Exceptional 3 Bedroom 4 Bath 4-Plex located on the corner of 7th Street and James Ave. The fourth unit is a commercial space that is currently a laundry service. It was formally a salon and could be converted back to a salon or another apartment. This property has been rented continuously with a solid rental history. Significant remodeling occurred on the property since it was purchased including new roof, medal siding, electric services, mini-splits, paint and some flooring. The property is licensed through the city and the rent is just under $3000/month. The tenants are responsible for paying their own utilities. There is ample parking on the large gravel parking lot and the 3-stall garage. This turn key property is definitely one to look at.
Listed by
Listing Agent - Lanier Pratt
Listing Office - Keller Williams Premier Realty-Rochester
Source: Northstar MLS mls logo
MLS#7104298 • last updated 4 days ago
Movoto checked Northstar MLS for data 12 minutes ago
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Overview
Heating Baseboard, Ductless Mini-Split
Levels/Style Two
MLS # 7104298
Type Residential Income
SubType Fourplex
Property Tax 3584
Tax Assessment 5652
Foreclosure (Y/N) No
Short Sale (Y/N) No
Interior
Total # of Bathrooms 4
# Bedrooms 4
Accessibility Features None
Exterior
# Garage Spaces 2
Parking Desc Carport, Detached Garage, Gravel
Amenities / Utilities
Water Source City Water/Connected
Location
County Freeborn
High School District Albert Lea
APN 340490110
Multifamily Details
Tenant Pays Electricity
Owner Pays Common Area Maintenance, Grounds Care, Sewer, Snow Removal, Taxes, Trash Collection, Water
Total # of Units 4
Annual Gross Income 34920
Expense: Trash 700
Operating Expense 14200
Expense: Manager 600
Expense: Insurance 2500
Expense: Maintenance 500
Expense: Water/ Sewer 1168
Expense: Electricity 1800
Expense: Other 500
Net Operating Income 15690
Lot/ Land Details
Present Use Yearly
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5/10
Halverson Elementary School
public Grades PK, K-5
Albert Lea Public School District
3/10
Southwest Middle School
public Grades 6-7
Albert Lea Public School District
4/10
Albert Lea Senior High School
public Grades 8-12
Albert Lea Public School District
Source: GreatSchools.org © 2026. All rights reserved.

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26/100
Walk
76/100
Family
22/100
Dining
71/100
Pet
  • Real Estate
  • MN
  • Freeborn County
  • Albert Lea
  • 56007
  • 220 E 7th St

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