UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,168 sqft
Price per Sqft $101
Subdivision Hicks 3Rd Add
MLS Listing ID 7157891
Bedrooms 5
Year Built 1900
Annual Tax Amount $2,768
Tax Year 2026
Contingent None
Lot Size 0.326 Acres
Lot Dimensions 90 x 158 x 80 x 130
Property Sub-Type Triplex
Property Description
Investors, take note! This unique property offers three existing rental units, a detached two-stall garage (garage not currently rented), and a large, level corner lot with additional income potential. Currently generating $31,800 in annual gross income with reported annual expenses of $10,559, the property produces an estimated annual net income of $21,241.
Originally built as a single-family home, the property has been converted into three separate rental units. The original interior staircase remains intact, with doorways currently separating the units, offering the potential to explore a conversion back to a single-family residence, subject to applicable requirements.
The exterior is in good condition, while the interior offers an opportunity for updates and improvements to enhance the property's value and rental potential. Buyers should anticipate interior work, including flooring updates and possible plumbing-related repairs.
With established rental income, a detached two-stall garage, and a spacious corner lot, this property offers multiple possibilities for investors looking to expand their portfolio or buyers seeking a property with flexibility and long-term potential. Explore the possibilities and make this investment your own!
Offered at $220,000.
Location
State MN
County Douglas
Zoning Residential-Multi-Family
Rooms
Basement Finished
Interior
Heating Forced Air
Fireplace No
Laundry Lower Level, Main Level
Exterior
Parking Features Detached Garage, Shared Driveway, Gravel
Garage Spaces 2.0
Fence None
Roof Type Age Over 8 Years
Building
Lot Description Corner Lot, Tree Coverage - Medium
Story Two
Foundation 784
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Block
New Construction false
Schools
School District Alexandria
NEARBY SCHOOL & BUSINESS
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