411 Court Street, Albert Lea, MN 56007

24 Photos

Property Details

  • 3 Beds
  • 4.0 Baths
  • 2,322 Sq Ft
  • 0.14 Acres Lot
  • Built 1915
  • 131 Days Listed

Description

Fantastic 4-Plex Investment Opportunity!

This well-maintained 4-unit property is a rare find for both seasoned investors and owner-occupants alike. Live in one apartment and let the rental income cover your mortgage, or simply enjoy steady cash flow from a fully rented building with long-term tenants.

Property Highlights:

• Solid investment with established tenants and consistent rental history
• Roof less than 10 years old, cedar siding, and newer landscaping
• Ample off-street parking, two decks, and attractive curb appeal
• Located in a revitalized neighborhood with continued growth potential

Financials:

• Estimated Rental Income: $2,325/month ($27,900/year)
• Estimated Expenses: $925/month ($11,100/year)
• Net Income Potential: $1,400/month ($16,800/year)

Current Units & Tenants:

• Apt 1: $475/month – Upstairs Efficiency – 13-year tenant
• Apt 2: $575/month – Upstairs 1 Bed/1 Bath – 1-year tenant
• Apt 3: $575/month – Main 1 Bed/1 Bath – 4-year tenant
• Apt 4: $700/month – Main 1 Bed/1 Bath – currently owner-occupied

Apartment Features:

• All units include window A/C and appliances
• Utilities (electric, gas, water, garbage, satellite) included in rent
• Basement with sump pump, water heater, and furnace

Owner’s Apartment (Apt 4):

Beautifully updated 1 bed/1 bath unit featuring:

• Kitchen with pantry, stainless steel fridge, range, and dishwasher
• Stackable washer/dryer hookups
• Enclosed dog door with access to large outdoor kennel
• Spacious dining & living areas, full bath with tub/shower
• Gorgeous original woodwork, front & back entrances, and private deck
• A must-see home full of character!

Additional Details:

• Buyer to pay closing costs

Don’t miss this opportunity to own a strong income-producing property with long-term stability and the option for owner occupancy.

Location and Directions

411 Court Street, Albert Lea, MN 56007

Heading West on E Main Street, Turn south on Euclid, then East on Court Street. Property on Right side