Property Listing
Description
Fantastic 4-Plex Investment Opportunity! This well-maintained 4-unit property is a rare find for both seasoned investors and owner-occupants alike. Live in one apartment and let the rental income cover your mortgage, or simply enjoy steady cash flow from a fully rented building with long-term tenants. Property Highlights: • Solid investment with established tenants and consistent rental history • Roof less than 10 years old, cedar siding, and newer landscaping • Ample off-street parking, two decks, and attractive curb appeal • Located in a revitalized neighborhood with continued growth potential Financials: • Estimated Rental Income: $2,325/month ($27,900/year) • Estimated Expenses: $925/month ($11,100/year) • Net Income Potential: $1,400/month ($16,800/year) Current Units & Tenants: • Apt 1: $475/month – Upstairs Efficiency – 13-year tenant • Apt 2: $575/month – Upstairs 1 Bed/1 Bath – 1-year tenant • Apt 3: $575/month – Main 1 Bed/1 Bath – 4-year tenant • Apt 4: $700/month – Main 1 Bed/1 Bath – currently owner-occupied Apartment Features: • All units include window A/C and appliances • Utilities (electric, gas, water, garbage, satellite) included in rent • Basement with sump pump, water heater, and furnace Owner’s Apartment (Apt 4): Beautifully updated 1 bed/1 bath unit featuring: • Kitchen with pantry, stainless steel fridge, range, and dishwasher • Stackable washer/dryer hookups • Enclosed dog door with access to large outdoor kennel • Spacious dining & living areas, full bath with tub/shower • Gorgeous original woodwork, front & back entrances, and private deck • A must-see home full of character! Additional Details: • Buyer to pay closing costs Don’t miss this opportunity to own a strong income-producing property with long-term stability and the option for owner occupancy.
Property Information
Status: Active
Sub Type: ********
List Price: $197,900
MLS#: 6765157
Current Price: $197,900
Address: 411 Court Street, Albert Lea, MN 56007
City: Albert Lea
State: MN
Postal Code: 56007
Geo Lat: 43.645722
Geo Lon: -93.372925
Subdivision: Morins Add
County: Freeborn
Property Description
Year Built: 1915
Lot Size SqFt: 5662.8
Gen Tax: 2832
Specials Inst: 0
High School: ********
Square Ft. Source:
Above Grade Finished Area:
Below Grade Finished Area:
Below Grade Unfinished Area:
Total SqFt.: 3506
Style: Array
Total Bedrooms: 3
Total Bathrooms: 4
Total Full Baths:
Garage Type:
Garage Stalls: 0
Waterfront:
Property Features
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Lot Feat/Fld Plain:
Interior Amenities:
Inclusions: ********
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