Listing Agency: Coldwell Banker Northwoods Realty

Listed By: Mitchel Kellin · License #MN Show Phone

Source: Crexi

Added: Apr 11 Changed: Aug 30 Last Checked: Aug 31 at 3:30PM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Northwoods Realty

Investment Insights

Based on property information with market context.

This six-unit apartment property at 241 W Lake Ave in Hill City includes four two-bedroom residences and two large studio apartments. Four units have undergone complete remodeling, while additional work has been completed on the building exterior and common areas.

The property has maintained full occupancy for five years. The unit mix provides a combination of two-bedroom and studio layouts within a compact multifamily asset.

Key Highlights

• Six‑unit apartment property with four two‑bedroom units and two large studios
• Four of the six residences have been completely remodeled
• Exterior and common‑area improvements have been completed

Property Analytics

Property Profile

Current Use

Apartment buildings

Lease Details

6

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Explore this area Business Placement

Demographics for 55748, MN

1,394

Population

887

Households

1.6

Avg Household Size

50

Median Age

16%

College-Educated

94%

High-School Grad

152.7 sq mi

ZIP Area

9

Density / Sq Mi

$54,615

Median Household Income

$34,766

Median Earnings

$904

Median Rent

$180,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Apartment building - Multifamily property with remodeled residences and improvements to the exterior and shared areas.

Where is this apartment building located?

The property is located at 241 W Lake Ave Hill City, MN.

What are key features of this property?

This property features: Six‑unit apartment property with four two‑bedroom units and two large studios; Four of the six residences have been completely remodeled; Exterior and common‑area improvements have been completed