506 W College Street Albert Lea, MN ^$ 179,900

506 W College Street

^$ 179,900

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506 W College Street

Albert Lea, MN, 56007

^$ 179,900

Bedrooms5 Baths2.0 Sq 1,792

Monthly Estimate*

^$ 1,243

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Multi-Family Home for sale in Albert Lea, MN

for $179,900 with 5 bedrooms and 2 full baths. This 1,792 square foot home was built in 1883 on a lot size of 0.183.

Very nice up and down duplex. Main floor unit offers 3 bedrooms, 1 bath, full basement, back deck and a fenced in yard. Upper unit offers 2 bedrooms, 1 bathroom, spacious living area with in unit laundry. Detached garage with parking.

Multi-Family Active

Price

^$ 179,900

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 3,994

Style

Duplex Up and Down

Lot Size

0.183

Year Built

1883

Town/City

Albert Lea

County/Region

Freeborn

MLS | Web ID

7131214

Features

General

Living Area 1792

Sewer City Sewer/Connected

Heating Forced Air

Roof Age Over 8 Years Asphalt

Garage Spaces 2

Year Built 1883

Tenant Pays Electricity

Levels Two

Property Subtype Duplex Up and Down

Tax Year 2026

Gross Income 20700

Accessibility None

County Freeborn

Operating Expense 0

Insurance Expense 0

New Construction N

Property Type Residential Income

Contingency None

MaintenanceExpense 0

Subdivision Name Morins Add

Directions South on I-35 Exit 12 left turn on Euclid Ave. Right on college street.

City Albert Lea

High School District Albert Lea

Zoning Description Residential-Multi-Family

Number Of Units Total 2

Lot Size Units Acres

Land Lease Y/N N

Tax Annual Amount 3994

Electric Expense 0

Fuel Expense 1662

Trash Expense 388

Water Sewer Expense 1150

Additional Parcels Y/N N

Standard Status Active

Lender Owned No

Interior

Basement Block Single Tenant Access

Basement (Y/N) Y

Above Grade Finished Area 1792

Laundry Features In Basement In Unit

Total Bedrooms 5

Below Grade Finished Area 0

Total Baths 2

Foundation Dimensions 32x28

Fuel Natural Gas

Garage Dimensions 18x20

Garage Square Feet 360

Exterior

Fencing Chain Link

Parking Features Detached Garage Gravel Concrete

Water Source City Water/Connected

Lot Size Area 0.183

Building Area Total 2688

Lot Dimensions 65x123

Waterfront Y/N N

Foundation Area 896

Road Frontage Type City Street

Road Responsibility Public Maintained Road

Internal Only

Street Number 1 506

* Excluded Features

List By

Robert Hoffman Realty Inc.

Broker

daniel@roberthoffmanrealty.com

Affordability Calculator

$1,575

Per Month

Monthly Principal & Interest: $1,243
Monthly Property Taxes: $333
Monthly Home Insurance: --

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Yearly 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

Trends
Schools

Multi-family listings in Albert Lea, MN

Average List Price ^$183,936

Percent of Sale Price 2%

About Albert Lea, MN

17,794 Population

-4% Since 2002

^$44,096 Median Income

43.27 Median Age

23% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

708674 Elementary School

708663 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
8/21/2026	$179,900		Listed Price

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506 W College Street, Albert Lea, MN, 56007 is a Multi-Family Home for sale at $179,900 with 1,792 sqft and a lot size of 0.183. 506 W College Street has 5 bedrooms, 2.0 baths, and was built in 1883. The property's zip code is 56007 which is in Albert Lea, MN

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: 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.

Listing data provided courtesy of the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota, Inc.

The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 10/16/2026.

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506 W College Street

Multi-Family Home for sale in Albert Lea, MN

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