220 E 7th Street Albert Lea, MN $ 249,900
220 E 7th Street
$ 249,900
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220 E 7th Street

Albert Lea, MN, 56007
$ 249,900
Bedrooms4 Baths3.0 Sq 2,800

Monthly Estimate*

$ 1,726

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Multi-Family Home for sale in Albert Lea, MN

for $249,900 with 4 bedrooms and 3 full baths. This 2,800 square foot home was built in 1949 on a lot size of 0.160698.

Exceptional 3 Bedroom 4 Bath 4-Plex located on the corner of 7th Street and James Ave. The fourth unit is a commercial space that is currently a laundry service. It was formally a salon and could be converted back to a salon or another apartment. This property has been rented continuously with a solid rental history. Significant remodeling occurred on the property since it was purchased including new roof, medal siding, electric services, mini-splits, paint and some flooring. The property is licensed through the city and the rent is just under $3000/month. The tenants are responsible for paying their own utilities. There is ample parking on the large gravel parking lot and the 3-stall garage. This turn key property is definitely one to look at.

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Multi-Family Active

Price

$ 249,900

Bedrooms

4

Full Bath

3

Property Type

Multi-Family

Taxes

$ 3,584

Style

Fourplex

Lot Size

0.160698

Year Built

1949

Town/City

Albert Lea

County/Region

Freeborn

MLS | Web ID

7104298

Features
General
Living Area 2800
Sewer City Sewer/Connected
Heating Baseboard Ductless Mini-Split
Garage Spaces 2
Year Built 1949
Tenant Pays Electricity
Levels Two
Property Subtype Fourplex
Tax Year 2026
Gross Income 34920
Accessibility None
County Freeborn
Net Operating Income 15690
Operating Expense 14200
Insurance Expense 2500
New Construction N
Property Type Residential Income
Contingency None
MaintenanceExpense 500
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.
City Albert Lea
High School District Albert Lea
Number Of Units Total 4
Lot Size Units Square Feet
Carport Spaces 1
Land Lease Y/N N
Tax Annual Amount 3584
Electric Expense 1800
Fuel Expense 0
Trash Expense 700
Water Sewer Expense 1168
Additional Parcels Y/N N
Standard Status Active
Lender Owned No
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Interior
Basement None
Basement (Y/N) N
Above Grade Finished Area 2800
Total Bedrooms 4
Below Grade Finished Area 0
Total Baths 4
Foundation Dimensions 28x50
Fuel Electric
Garage Dimensions 22x28
Garage Square Feet 616
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Exterior
Parking Features Carport Detached Garage Gravel
Water Source City Water/Connected
Lot Size Area 7000
Building Area Total 2800
Lot Dimensions 50x140
Waterfront Y/N N
Foundation Area 1400
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Internal Only
Street Number 1 220
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* Excluded Features
List By
Keller Williams Premier Realty

Broker

lanier@cpm-kw.com

Email

Affordability Calculator

$2,025
Per Month
85%
15%
0%
Monthly Principal & Interest
$1,726
Monthly Property Taxes
$299
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
708674 Elementary School
708663 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
7/6/2026$249,900 Listed Price

Map


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220 E 7th Street, Albert Lea, MN, 56007 is a Multi-Family Home for sale at $249,900 with 2,800 sqft and a lot size of 0.160698. 220 E 7th Street has 4 bedrooms, 3.0 baths, and was built in 1949. The property's zip code is 56007 which is in Albert Lea, MN