For Sale: Albert Lea MLS# 7023425
Active
NEW!
$169,900
Multi-family: 2 Stories
4 br • 2 ba • Built 1883
2,560 sqft • 0.074 acres
MLS# 7023425
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Property Description
Exceptional 4 Bedroom 2 Bath Side by Side Duplex located near Fountain Lake and the Albert Lea Mayo Medical Center. This property has been rented continuously with a solid rental history on the 508 unit and was once an Airbnb. Significant remodeling occurred in the property since it was purchased including new kitchen, bathroom, paint and flooring. The property is licensed through the city and the rent is $1200/month with the tenants paying their own utilities. The tenant's lease expires 5/31/26 and they have indicated they will not be renewing. You can place your own tenants or live in the 508 unit and remodel/rent out the 512 unit. The 512 unit needs to be completed although there has been work done in the unit to get it ready for the next renter (see disclosure form). AGENT IS ALSO AN OWNER.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$169,900
Price per sq ft:
$66
Property Type:
Multi-family
City:
Albert Lea
Garage Spaces:
2
County:
Freeborn
Year Built:
1883
State:
MN
Property Style:
2 Stories
Zip Code:
56007
Subdivision Name:
Rodli & Hises Sub
Interior
Bedrooms:
4
Bathrooms:
2
Finished Area:
2,560 ft2
Living Area:
2,560 ft2
Basement Details:
Block
Exterior
Stories:
Two
Garage Spaces:
2
Garage Size:
250 ft2
Foundation Size:
1,280 ft2
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
Attached Garage
Lot & Land
Acres:
0.074
Geolocation:
43.653308, -93.374598
Lot Dimensions:
54 x 60
Schools
School District:
1141
District Phone:
5073794800
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$800
Annual Fuel Expense:
$800
Annual Insurance Expense:
$3,121
Annual Maintenance Expense:
$250
Annual Trash Expense:
$425
Annual Water/Sewer Expense:
$755
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$1,800
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$2,332
Income
Annual Gross Income:
$14,400
Units
Total Units:
2
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Keller Williams Premier Realty.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.