220 E 7th Street, Albert Lea, MN 56007
MULTI_FAMILY - Albert Lea, MN
- Added:
- Jul 3, 2026
- Days on Market:
- 4
- Last Refresh:
- Jul 6 at 3:06 pm
Property Features for 220 E 7th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bedroom 4, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 2
- Parking features
- Garage - Detached, Carport
- 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 agent Lanier Pratt (507) 424-4422
Listing office Keller Williams Premier Realty 2765 Commerce Dr NW Suite 100, Rochester, MN (507) 424-4422
Listing date Jul 3, 2026
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.
HighLights
- 3‑bedroom, 4‑bath 4‑plex on the corner of 7th Street and James Ave, with four separate rental spaces
- Includes a commercial unit currently operating as a laundry service; previously a salon and could be converted back to residential or salon use
- Continuously rented with a licensed city rental operation; rent is just under $3,000/month and tenants pay their own utilities
- Remodeled since purchase with a new roof, metal siding, new electric services, and mini‑splits (ductless heating)
- Parking includes a large gravel lot plus a 3‑stall detached garage and carport
- Built in 1949 with baseboard and ductless (heating) systems
Overview
The building is positioned on a corner lot at 220 E 7th Street in Albert Lea, MN, and is served by a large gravel parking lot and a 3-stall garage. The property is city-licensed, and tenants are responsible for paying their own utilities.
For investors and operators seeking an income property that combines residential units with an on-site commercial component, this setup offers two ways to generate rental revenue under one ownership. With the recent building improvements and existing commercial/laundry configuration, the property provides a straightforward platform for continued operation while also offering an alternate path for the fourth unit if conversion is pursued.
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Albert Lea
- County
- Freeborn
- State
- Minnesota
- Longitude
- -93.365822
- Latitude
- 43.636638
