Property Listing
Description
Excellent turnkey triplex investment opportunity in Monticello! This fully occupied property features two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit with established tenants and lease agreements in place, offering immediate cash flow and stable rental income. Numerous updates have been completed throughout the property, including remodeled kitchens, bathrooms, flooring, fixtures, and finishes that contribute to strong tenant appeal and pride of ownership. Major improvements include a new roof (2025), new water heater (2025), and new furnace (2021), helping minimize future capital expenses. Separate electric meters serve each unit, and the property is situated on a spacious half-acre lot, offering exceptional outdoor space and flexibility rarely found with multifamily properties. Conveniently located near downtown Monticello, parks, schools, shopping, dining, and major commuter routes, this well-maintained property offers immediate cash flow, a strong rental history, and long-term investment potential. Income and expense information available upon request.
Property Information
Status: Active
Sub Type: ********
List Price: $417,000
MLS#: 7083432
Current Price: $417,000
Address: 501 W 3rd Street, Monticello, MN 55362
City: Monticello
State: MN
Postal Code: 55362
Geo Lat: 45.302739
Geo Lon: -93.788109
Subdivision: Lower Monticello
County: Wright
Property Description
Year Built: 1956
Lot Size SqFt: 21780
Gen Tax: 4906
Specials Inst: 0
High School: Monticello
Square Ft. Source:
Above Grade Finished Area:
Below Grade Finished Area:
Below Grade Unfinished Area:
Total SqFt.: 2977
Style: Array
Total Bedrooms: 5
Total Bathrooms: 3
Total Full Baths:
Garage Type:
Garage Stalls: 2
Waterfront:
Property Features
Exterior:
Roof:
Foundation:
Lot Feat/Fld Plain: Array
Interior Amenities:
Inclusions: ********
Exterior Amenities:
Heat System:
Air Conditioning:
Utilities: