$417,000
501 W 3rd Street Monticello, MN 55362
Coming Soon MLS# 7083432
5 beds 3 baths 2,977 sq ft Multi-family
Details for 501 W 3rd Street
MLS# 7083432
Description for 501 W 3rd Street, Monticello, MN, 55362
Excellent turnkey triplex investment opportunity in Monticello! This fully occupied property features two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit with established tenants and lease agreements in place, offering immediate cash flow and stable rental income. Numerous updates have been completed throughout the property, including remodeled kitchens, bathrooms, flooring, fixtures, and finishes that contribute to strong tenant appeal and pride of ownership. Major improvements include a new roof (2025), new water heater (2025), and new furnace (2021), helping minimize future capital expenses. Separate electric meters serve each unit, and the property is situated on a spacious half-acre lot, offering exceptional outdoor space and flexibility rarely found with multifamily properties. Conveniently located near downtown Monticello, parks, schools, shopping, dining, and major commuter routes, this well-maintained property offers immediate cash flow, a strong rental history, and long-term investment potential. Income and expense information available upon request.
Listing Information
Property Type: Multi-family, Triplex
Status: Coming Soon
Bedrooms: 5
Bathrooms: 3
Lot Size: 0.50 Acres
Square Feet: 2,977 sq ft
Year Built: 1956
Foundation: 1,079 sq ft
Garage: Yes
Stories: 1.5 Stories
Subdivision: Lower Monticello
Number Of Units Total: 3
County: Wright
Construction Status: Previously Owned
School Information
District: 882 - Monticello
Additonal Room Information
Laundry: Common Area, Main Level
Interior Features
Square Footage above: 1,898 sq ft
Square Footage below: 1,079 sq ft
Basement: Concrete Block
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Heating: Baseboard, Natural Gas, Electric, Forced Air
Exterior / Lot Features
Garage Spaces: 2
Parking Description: Garage Dimensions - 35x21, Garage Sq Ft - 735.0
Exterior: Metal
Roof: Age 8 Years or Less, Asphalt Shingles
Lot Dimensions: 132x165x132x165
Zoning: Residential-Multi-Family
Additional Exterior/Lot Features: Corner Lot, Road Frontage - City
Community Features
Association Amenities: Coin-op Laundry Owned, Common Laundry Facility
Unit Information
Unit 1 Units Total: 1
Unit 1 Actual Rent: 1550
Unit 1 Baths Total: 1
Unit 1 Beds Total: 2
Unit 1 Rooms Total: 7
Unit 2 Units Total: 1
Unit 2 Actual Rent: 1190
Unit 2 Baths Total: 1
Unit 2 Beds Total: 1
Unit 2 Rooms Total: 4
Unit 3 Units Total: 1
Unit 3 Actual Rent: 1530
Unit 3 Baths Total: 1
Unit 3 Beds Total: 2
Unit 3 Rooms Total: 7
Driving Directions
Hwy 25 to W 3rd St, west to property on left.
Financial Considerations
Tenant Pays: Electric
Owner Pays: Broadband,Electric,Grounds Care,Insurance,Maintenance/Repair,Management,Sewer,Taxes,Trash,Water
Gross Income: 50100
Expense: 32542
Tax/Property ID: 155015013040
Tax Amount: 4906
Tax Year: 2026
HomeStead Description: Non-Homesteaded
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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 501 W 3rd Street
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 501 W 3rd Street
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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.