Share this with your friends
+16514724012
Real Estate Company
1202 Elm Street, Alexandria, MN 56308
- $220,000
- 5
- BD
- 3
- BA
- 2,168
- SqFt
- List Price
- $220,000
- MLS#
- 7157891
- Status
- ACTIVE
- Type
- Multifamily
- Style
- (MF) Triplex
- Bedrooms
- 5
- Bathrooms
- 3
- Living Area
- 2,168
- Acres
- 0.33
- Subdivision
- Hicks 3rd Add
- Year Built
- 1900
Property Description
Income-Producing Investment Property | 3 Units | Detached 2-Stall Garage 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.
/u.realgeeks.media/midwestrealtymn/Shane_Maki.png)
Additional Information
- School District
- Alexandria
- Amenities Shared
- Laundry
- Tax Year
- 2026
- Fencing
- None
- Fuel
- Natural Gas
- Lot Description
- Corner Lot, Tree Coverage - Medium
- Sewer
- City Sewer/Connected
- Roof
- Age Over 8 Years
- Topography
- Level
- Heating
- Forced Air
- Water
- City Water/Connected
- Basement
- Finished
- Parking
- Detached Garage, Shared Driveway, Gravel
- Garage Spaces
- 2
Mortgage Calculator
Listing courtesy of Central MN Realty LLC.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota. Real estate listings held by brokerage firms other this firm are marked with the Broker Reciprocity logo. Information Deemed Reliable But Not Guaranteed. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.
Listing data © 2026 Regional Multiple Listing Service of Minnesota. All rights reserved. By searching, you agree to the EULA.