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401 1st Avenue SE Pelican Rapids, MN $ 278,000
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$ 278,000 Get more info
401 1st Avenue SE
$ 278,000
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Share Save

401 1st Avenue SE

Pelican Rapids, MN, 56572
$ 278,000
Bedrooms6 Baths2.1 Sq 3,400

Monthly Estimate*

$ 1,920

401 1st Avenue SE, Pelican Rapids, MN 56572 - Image 1
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401 1st Avenue SE, Pelican Rapids, MN 56572 - Image 5
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401 1st Avenue SE, Pelican Rapids, MN 56572 - Image 7
401 1st Avenue SE, Pelican Rapids, MN 56572 - Image 8
401 1st Avenue SE, Pelican Rapids, MN 56572 - Image 9
401 1st Avenue SE, Pelican Rapids, MN 56572 - Image 10
401 1st Avenue SE, Pelican Rapids, MN 56572 - Image 11
401 1st Avenue SE, Pelican Rapids, MN 56572 - Image 12
401 1st Avenue SE, Pelican Rapids, MN 56572 - Image 13
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Multi-Family Home for sale in Pelican Rapids, MN

for $278,000 with 6 bedrooms and 2 full baths, 1 half bath. This 3,400 square foot home was built in 1959 on a lot size of 0.287.

Investment opportunity! Updated 3 unit Income property located just down from the pool in Pelican Rapids. A total of 3400 sq ft. of income. One 1200 sq.ft Unit downstairs(2 bed 1 bath), and two units upstairs, one being an efficiency, (1600sq. ft(3 bed 1 bath) & 600 sq. ft(1 bed 1 bath)). A near 10% cap rate makes this property a great addition to your investment portfolio. Motivated seller. Take a look before the snow flies!

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Multi-Family Active

Price

$ 278,000

Bedrooms

6

Full Bath

2

Half Bath

1

Property Type

Multi-Family

Taxes

$ 3,263

Style

Triplex

Lot Size

0.287

Year Built

1959

Town/City

Pelican Rapids

County/Region

Otter Tail

MLS | Web ID

7124909
Features
General
Living Area 3400
Sewer City Sewer/Connected
Heating Baseboard Forced Air
Roof Architectural Shingle
Garage Spaces 2
Year Built 1959
Tenant Pays Electricity Gas Sewer Water
Levels One
Property Subtype Triplex
Tax Year 2026
Gross Income 40200
Accessibility None
County Otter Tail
Net Operating Income 29250
Operating Expense 7950
Insurance Expense 3800
New Construction N
Property Type Residential Income
Association Amenities Laundry Patio
Contingency None
MaintenanceExpense 1000
Subdivision Name Frazees 4th Add
Directions Kitty corner from the pool and across the road from the church off of Hwy 108
City Pelican Rapids
High School District Pelican Rapids
Zoning Description Residential-Single Family
Number Of Units Total 3
Lot Size Units Acres
Land Lease Y/N N
Tax Annual Amount 3263
Electric Expense 2400
Fuel Expense 0
Trash Expense 1450
Water Sewer Expense 1200
Additional Parcels Y/N N
Standard Status Active
Lender Owned No
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Interior
Basement Block
Basement (Y/N) Y
Above Grade Finished Area 2200
Laundry Features In Garage
Total Bedrooms 6
Below Grade Finished Area 1200
Total Baths 3
Foundation Dimensions 66x32 irregular
Fuel Natural Gas
Garage Door Width 7
Garage Square Feet 600
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Exterior
Lot Features Corner Lot
Water Source City Water/Connected
Lot Size Area 0.287
Building Area Total 4400
Lot Dimensions 120x110
Waterfront Y/N N
Foundation Area 2200
Road Responsibility Public Maintained Road
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Internal Only
Street Number 1 401
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* Excluded Features
List By
The Real Estate Company Of Detroit Lakes

Broker

grant@trecdl.com

Email

Affordability Calculator

$2,192
Per Month
88%
12%
0%
Monthly Principal & Interest
$1,920
Monthly Property Taxes
$272
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
3048281 Elementary School
3048280 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
10/15/2026$278,000 -3.97% Price Down
9/10/2026$289,500 -3.02% Price Down
8/12/2026$298,500 Listed Price

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401 1st Avenue SE, Pelican Rapids, MN, 56572 is a Multi-Family Home for sale at $278,000 with 3,400 sqft and a lot size of 0.287. 401 1st Avenue SE has 6 bedrooms, 2.1 baths, and was built in 1959. The property's zip code is 56572 which is in Pelican Rapids, MN

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