About This Home

This 4-bedroom, 4-bathroom residential multi family at 220 E 7th Street in Albert Lea, MN is listed for $249,900 ($89 per sqft). Built in 1949, the home offers 2,800 sqft of living space on a 0.16 acres lot.

Key Features

  • Built in 1949
  • 0.16 acre lot

Property Details

4 full
2-car garage
1949
Listing Description

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.

Monthly Cost Estimate

$1,337/mo

20% down · 6.5% · 30 years

Principal$181
Interest$1,083
Insurance$73

Estimates only. Actual payments may vary.

Location

220 E 7th Street

Albert Lea, MN 56007

Property Details

Parking

Garage - DetachedCarport

Heating

Ductless (Heating)Baseboard

Questions & Answers

This 4-bedroom, 4-bathroom residential multi family at 220 E 7th Street is listed at $249,900 ($89/sqft). The estimated monthly payment is $1,337 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1949, 0.16 acre lot.

This property is listed by Lanier Pratt.

LP

Lanier Pratt

Agent at Keller Williams Premier Realty Rochester

Listed by Keller Williams Premier Realty Rochester · Broker phone: (507) 424-4422 · View on Broker Site · Broker website

MLS# 7104298· Source: Northstar MLS· 116 days on PropertySimple

Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

220 E 7th Street, Albert Lea, MN 56007

Open this listing in: