$249,900
220 E 7th Street Albert Lea, MN 56007
For Sale MLS# 7104298
4 beds 4 baths 2,800 sq ft Multi-family
Details for 220 E 7th Street
MLS# 7104298
Description for 220 E 7th Street, Albert Lea, MN, 56007
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.
Listing Information
Property Type: Multi-family, Four Plex
Status: Active
Bedrooms: 4
Bathrooms: 4
Lot Size: 0.16 Acres
Square Feet: 2,800 sq ft
Year Built: 1949
Foundation: 1,400 sq ft
Garage: Yes
Stories: 2 Stories
Number Of Units Total: 4
County: Freeborn
Days On Market: 18
Construction Status: Previously Owned
School Information
District: 241 - Albert Lea
Interior Features
Square Footage above: 2,800 sq ft
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Heating: Ductless Mini-Split, Electric, Baseboard
Exterior / Lot Features
Garage Spaces: 2
Parking Description: Carport, Detached Garage, gravel lot, Garage Dimensions - 22x28, Garage Sq Ft - 616.0
Exterior: Metal
Lot Dimensions: 50x140
Unit Information
Unit 1 Units Total: 1
Unit 1 Actual Rent: 625
Unit 1 Baths Total: 1
Unit 1 Beds Total: 1
Unit 1 Rooms Total: 3
Unit 2 Units Total: 1
Unit 2 Actual Rent: 795
Unit 2 Baths Total: 1
Unit 2 Beds Total: 1
Unit 2 Rooms Total: 4
Unit 3 Units Total: 1
Unit 3 Actual Rent: 795
Unit 3 Baths Total: 1
Unit 3 Beds Total: 1
Unit 3 Rooms Total: 4
Unit 4 Units Total: 1
Unit 4 Actual Rent: 695
Unit 4 Baths Total: 1
Unit 4 Beds Total: 1
Unit 4 Rooms Total: 3
Driving 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.
Financial Considerations
Other Annual Tax: $13,183
Tenant Pays: Electric
Owner Pays: Common Area Maintenance,Grounds Care,Sewer,Snow,Taxes,Trash,Water
Gross Income: 34920
Expense: 14200
Tax/Property ID: 340490110
Tax Amount: 3584
Tax Year: 2026
HomeStead Description: Non-Homesteaded
A broker reciprocity listing courtesy: Keller Williams Premier Realty
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Edina Realty, Inc. are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail and detailed information about them includes the name of the listing brokers. Edina Realty, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Edina Realty, Inc., a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. IDX information is provided exclusively 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. Open House information is subject to change without notice. Information deemed reliable but not guaranteed.
Copyright 2026 Regional Multiple Listing Service of Minnesota, Inc. All Rights Reserved.
Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 220 E 7th Street
Sales History
| Date | Price | |
|---|---|---|
| Currently not available. | ||
Tax Summary
| Tax Year | Estimated Market Value | Total Tax |
|---|---|---|
| Currently not available. | ||
Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 220 E 7th Street
| Schools in attendance boundaries | Grades | Distance | Rating |
|---|---|---|---|
| Loading... | |||
| Schools nearby | Grades | Distance | Rating |
|---|---|---|---|
| Loading... | |||
Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
Coming soon properties will soon be on the market, but are not yet available for showings.