Albert Lea, MN Multifamily Properties for Sale

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12 properties

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Updated: Jul 3

Quadplex with Commercial Space

220 E 7th Street, Albert Lea, MN 56007

$249,900

2,800 sqft 0.16 AC lot

2,800 SF quadplex with four bedrooms and four bathrooms
Fourth unit is a commercial space currently operating as a laundry service
Commercial area previously used as a salon and may convert back to salon use or another apartment
Recent improvements include roof, metal siding, electric services, mini‑splits, paint, and some flooring
Detached 3‑stall garage, carport, and large gravel parking lot

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Updated: Apr 15

Two-Unit Duplex with Tenants

922 Jefferson Avenue, Albert Lea, MN 56007

$164,999

1,637 sqft 0.14 AC lot

Two‑unit duplex with 1,637 square feet of building area
Each unit includes 2 bedrooms, 1 bathroom, a kitchen, and a living room
Both units are tenant‑occupied with monthly rent payments
Situated on a 0.14‑acre lot at 922 Jefferson Avenue
Vinyl exterior and forced‑air heating

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Side-by-Side Duplex with Garage

1602/1604 W Front Street, Albert Lea, MN 56007

$250,000

0.21 AC lot

Two attached residences offer practical layouts, on-site parking, and included kitchen and laundry appliances.

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Two-Unit Duplex with Garage

509 4th St, Albert Lea, MN 56007

$189,000

1,890 sqft

Up-down layout with a detached garage, off-street parking, and a spacious front yard.

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Two-Unit Duplex

214 W College Street, Albert Lea, MN 56007

$94,900

1,449 sqft 0.18 AC lot

Separate residences offer a straightforward two-unit rental configuration.

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Two-Unit Duplex with Tenant Occupancy

922 Jefferson Ave, Albert Lea, MN 56007

$164,999

1,637 sqft

Both units offer two bedrooms, one bathroom, a kitchen, and a living area.

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Two-Unit Duplex with Detached Garage

506 W College St, Albert Lea, MN 56007

$179,900

1,792 sqft

Two-level income property with separate residences, private outdoor space, and on-site parking.

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Duplex with Detached Garage

221 N 3rd Ave, Albert Lea, MN 56007

$169,900

1,990 sqft

Two separately entered residences provide a flexible configuration for owner occupancy or rental use.

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Corner Retail and Multifamily Building

202 S BROADWAY AVE, Albert Lea, MN 56007

Contact for pricing

9,801 sqft

Turn-of-the-century corner redevelopment building with iconic terrazzo floors and a dry foundation.

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Up-Down Duplex with Detached Garage

918 Jefferson Ave, Albert Lea, MN 56007

$99,900

1,316 sqft

Vacant two-level duplex with separate kitchens, a private upper deck, central AC, and flexible single-family conversion potential.

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Quadplex With Commercial Space

Albert Lea, MN 56007

$249,900

Four-unit property with an adaptable commercial component, city licensing, dedicated parking, and updated building systems.

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Side-by-Side Duplex Near Medical Center

Albert Lea, MN 56007

$150,000

City-licensed duplex with one remodeled unit and a second unit being prepared for occupancy.

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Based on your search, we've compiled 24 Potential Opportunities for your consideration. Besides 12 Active listings in Albert Lea, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 8 Off-Market properties to explore as potential leads

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Triplex with Detached Double Garage

403 S 4Th Avenue E, Lake Mills, IA 50450

$109,900

1,811 sqft 0.48 AC lot

Occupied triplex with varied apartment layouts, outdoor space, and a recently installed boiler.

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Updated Two-Unit Duplex

1103 8th St NW, Austin, MN 55912

$210,000

2,264 sqft

Separate residences include a two-bedroom main-level unit and a one-bedroom upper-level unit, with current rental income from both.

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Up-Down Duplex with Private Entrances

309 3rd Ave SW, Austin, MN 55912

$179,000

1,944 sqft

Classic two-unit property with separate entrances and recently painted wood siding.

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8-Unit Apartment Building

207 S Lake Street, Lake Mills, IA 50450

$150,000

0.20 AC lot

The property offers a mix of one- and two-bedroom apartment layouts, with several units featuring newer flooring and paint.

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Off-Market Properties in Albert Lea, MN

Consider similar Off-Market properties in Albert Lea, MN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

APARTMENT HOUSE (5+ UNITS)

108 Adams Ave, Albert Lea, MN 56007-2501

Estimated value:

$280,000

3,572 sqft

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MOBILE HOME PARK, TRAILER PARK

1714 Margaretha Ave, Albert Lea, MN 56007-3232

Estimated value: by Request

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MOBILE HOME PARK, TRAILER PARK

1714 Margaretha Ave, Albert Lea, MN 56007-3232

Estimated value: by Request

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MOBILE HOME PARK, TRAILER PARK

2401 Ethel Ave, Albert Lea, MN 56007-5309

Estimated value: by Request

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MOBILE HOME PARK, TRAILER PARK

605 19th St, Albert Lea, MN 56007

Estimated value: by Request

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MOBILE HOME PARK, TRAILER PARK

Albert Lea, MN 56007

Estimated value: by Request

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MOBILE HOME PARK, TRAILER PARK

Albert Lea, MN 56007

Estimated value:

$240,000

0.52 AC lot

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MOBILE HOME PARK, TRAILER PARK

Albert Lea, MN 56007

Estimated value: by Request

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Albert Lea, MN Multifamily Properties Market Trends and Statistics

Explore 20 multifamily properties for sale in Albert Lea, MN, showcased through 12 active listings on our real estate platform. These investment opportunities span a total of 24,312 square feet of properties for sale, with an estimated market value of $1,963,398.

Sale prices for multifamily properties in Albert Lea, MN start at $94,900, averaging $178,490, and reaching up to $250,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 21K

Population Growth (5Y) +1.4%

Median Household Income $66,479

College Educated 24.2%

High-Yield Neighborhoods for Investment

Identify Albert Lea submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
56007	$186.8K

Taxes & Financing

Tax Rate (average for all types) 2.76%

Property Tax per SF $0.93 per SF

Tax Rate vs County Average 0.01 pp above county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Freeborn County

New Delisted

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