Property Listing
Description
Seize this rare opportunity to own a fully occupied 4-plex in Hill City, MN, delivering $33,133 in current annual gross rental income with immediate upside potential. Priced at $365,000, this turnkey property offers a blend of stability, recent updates, and future income growth for savvy investors. Each spacious unit features 2 bedrooms and 1 bath (one unit includes 2 baths), averaging 1,000 sq ft per unit. With long-term tenants in place and one unit currently renting at $600 while others achieve up to $900, there is built-in opportunity for rent increases to boost returns. Key updates provide peace of mind for investors: All units feature new water heaters New water softener serving all units Fresh paint, carpet, and flooring in Units 1 & 3 Updated electrical in Units 1 & 3 Every unit equipped with a washer & dryer hook up Tenants pay their own electric, cable, and internet, while the landlord covers city water/sewer, lawn care, snow removal, garbage, exterior maintenance, and insurance — keeping property management simple and predictable. The property sits in a prime Hill City location just 2 blocks from Hwy 169, one block from Hill Lake, and ½ mile from Hill City High School, ensuring consistent tenant demand and long-term value growth. Whether you're looking to add stable cash flow to your portfolio or seeking a turnkey property with built-in rent growth, this 4-plex checks all the boxes.
Property Information
Status: Active
Sub Type: ********
List Price: $365,000
MLS#: 6786681
Current Price: $365,000
Address: 204 Lake Avenue E, Hill City, MN 55748
City: Hill City
State: MN
Postal Code: 55748
Geo Lat: 46.991813
Geo Lon: -93.595127
Subdivision: Bucks Add
County: Aitkin
Property Description
Year Built: 1985
Lot Size SqFt: 24393.6
Gen Tax: 2868
Specials Inst: 0
High School: ********
Square Ft. Source:
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Below Grade Unfinished Area:
Total SqFt.: 6144
Style: Array
Total Bedrooms: 8
Total Bathrooms: 5
Total Full Baths:
Garage Type:
Garage Stalls: 0
Waterfront:
Property Features
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Inclusions: ********
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