Four-Plex with Commercial Laundry
For Sale
$249,900
220 E 7th Street, Albert Lea, MN 56007
Residential Income, Albert Lea, MN
Property Size2,800 SF
Lot Size0.16 Acres
Price / SF$89.25
Days on Market49
Property Features for 220 E 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 2
Parking features
Garage - Detached, Carport
Exterior features
Metal
High school district
Albert Lea
Directions
Travel South from downtown Albert Lea and turn left (East) on 7th Street. The property will be on the corner of 7th St. and James Ave.
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 · Keller Williams Realty
(507) 424-4422
Listed By:
Lanier Pratt · License #40695134
(507) 424-4422
Added: Jul 3
Changed: Aug 19
Last Checked: Aug 20 at 6:06PM
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 four-plex offers three residential bedrooms and four bathrooms across the units, plus a fourth unit that is currently a commercial laundry service space. The space was formally a salon and could be converted back to a salon or another apartment. The property is licensed through the city and has been rented continuously with a solid rental history. Tenants are responsible for paying their own utilities.
The building sits on a 0.1607-acre corner lot at 220 E 7th Street in Albert Lea, MN. Significant remodeling since purchase includes a new roof, metal siding, electric services, mini-splits, paint, and some flooring. Heating is provided by baseboard and ductless systems.
Outdoor parking is available with a large gravel parking lot and a 3-stall garage. The property was built in 1949 and has a total size of 2,800 square feet.
The building sits on a 0.1607-acre corner lot at 220 E 7th Street in Albert Lea, MN. Significant remodeling since purchase includes a new roof, metal siding, electric services, mini-splits, paint, and some flooring. Heating is provided by baseboard and ductless systems.
Outdoor parking is available with a large gravel parking lot and a 3-stall garage. The property was built in 1949 and has a total size of 2,800 square feet.
Key Highlights
- Fourth unit operates as a commercial laundry service space; formally a salon and convertible to a salon or apartment
- 0.1607‑acre corner lot with 2,800 square feet under roof
- City‑licensed and rented continuously with a solid rental history
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 56007, MN
21,434
Population
9,873
Households
2.2
Avg Household Size
43
Median Age
18%
College-Educated
88%
High-School Grad
169.3 sq mi
ZIP Area
127
Density / Sq Mi
$66,479
Median Household Income
$43,867
Median Earnings
$843
Median Rent
$161,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-plex with a licensed fourth-unit commercial laundry space, tenant-paid utilities, and ample parking including a 3-stall garage.
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: Fourth unit operates as a commercial laundry service space; formally a salon and convertible to a salon or apartment; 0.1607‑acre corner lot with 2,800 square feet under roof; City‑licensed and rented continuously with a solid rental history
