4-Plex with On-Site Commercial
220 E 7th Street Albert Lea, MN 56007
220 E 7th Street, Albert Lea, MN, 56007
$249,900
For Sale
$249,900
MULTI_FAMILY - Albert Lea, MN
Property Size2,800 SF
Lot Size0.16 Acres
Price / SF$89.25
Days on Market20
Property Features for 220 E 7th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 4
- Parking features
- Carport, Garage - Detached
- Exterior features
- Metal
- Standard status
- Active
- APN
- 340490110
- Size
- 2,800 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 3584
Utilities
- Heating system
- Baseboard, Ductless (Heating)
Building Details
- Year built
- 1949
Listing agency
Keller Williams Premier Realty
(507) 424-4422
Listed by
Lanier Pratt
(507) 424-4422
Added: Jul 3 Updated: Jul 17 at 12:49AM Checked: Jul 22 at 12:06PM
MLS# 7104298
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4-plex includes three residential units and a fourth unit operating as a commercial laundry service. The commercial space was previously used as a salon and could be converted back to a salon or repurposed as an apartment. The property has been rented continuously with a solid rental history.
Recent improvements include a new roof, metal siding, updated electric services, mini-splits, interior paint, and some flooring. The building is city-licensed, and tenants are responsible for their own utilities.
Located on a corner at 220 E 7th Street, the property offers ample parking with a large gravel parking lot plus a 3-stall garage. The reported rent is just under $3,000 per month, making this a turnkey option for an investor or owner-operator seeking both residential income and an additional commercial component.
Recent improvements include a new roof, metal siding, updated electric services, mini-splits, interior paint, and some flooring. The building is city-licensed, and tenants are responsible for their own utilities.
Located on a corner at 220 E 7th Street, the property offers ample parking with a large gravel parking lot plus a 3-stall garage. The reported rent is just under $3,000 per month, making this a turnkey option for an investor or owner-operator seeking both residential income and an additional commercial component.
Key Highlights
- 3‑bedroom, 4‑bath 4‑plex on the corner of 7th Street and James Ave; 4th unit is commercial space used as a laundry service
- Fourth unit previously a salon and could be converted back to a salon or another apartment
- Licensed through the city; continuously rented with solid rental history
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-plex featuring residential units and a commercial laundry space, with recent renovations including a new roof and siding.
Where is this quadplex located?
The property is located at 220 E 7th Street Albert Lea, MN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 3‑bedroom, 4‑bath 4‑plex on the corner of 7th Street and James Ave; 4th unit is commercial space used as a laundry service; Fourth unit previously a salon and could be converted back to a salon or another apartment; Licensed through the city; continuously rented with solid rental history
