For Sale: Alexandria MLS# 7157891
Active
NEW!
$220,000
Multi-family: Triplex
5 br • 3 ba • Built 1900
2,168 sqft • 0.326 acres
Alexandria schools
MLS# 7157891
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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.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$220,000
Price per sq ft:
$101
Property Type:
Multi-family
City:
Alexandria
Garage Spaces:
2
County:
Douglas
Year Built:
1900
State:
MN
Property Style:
Triplex
Zip Code:
56308
Subdivision Name:
Hicks 3rd Add
Interior
Bedrooms:
5
Bathrooms:
3
Finished Area:
2,168 ft2
Living Area:
2,168 ft2
Refrigerators:
Three
Basement Details:
Finished
Exterior
Stories:
Two
Garage Spaces:
2
Garage Dimensions:
22 x 20
Garage Size:
440 ft2
Foundation Size:
784 ft2
Foundation Dimensions:
28 x 28
Fencing:
None
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
- Detached Garage
- Gravel
- Shared Driveway
Shared Amenities:
Laundry
Road Frontage:
City Street
Exterior Material:
Block
Roof Details:
Age Over 8 Years
Rooms
Laundry:
- Lower Level
- Main Level
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.326
Geolocation:
45.878747, -95.381229
Lot Dimensions:
90 x 158 x 80 x 130
Zoning:
Residential-Multi-Family
Lot Description:
- Corner Lot
- Tree Coverage - Medium
Farm
Topography:
Level
Schools
School District:
206
District Phone:
3207622141
Expenses
Annual Caretaker Expense:
$10,559
Annual Electric Expense:
$4,648
Annual Fuel Expense:
$2,253
Annual Insurance Expense:
$889
Annual Maintenance Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
$4,648
Tenant Expenses:
Cable TV, Lawn Care, Trash Collection
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$2,768
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$2,768
Income
Annual Gross Income:
$31,800
Rent
Annual Net Income:
$21,241
Units
Total Units:
3
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Power Company Name:
Alexandria Light & Power
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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 Central MN Realty LLC.
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.