$329,900
605 Main Street Tower, MN 55790
For Sale MLS# 7046763
8 beds 4 baths 4,464 sq ft Multi-family
Details for 605 Main Street
MLS# 7046763
Description for 605 Main Street, Tower, MN, 55790
Exceptional turn-key 4-plex opportunity in the heart of Tower, MN — just one block from beautiful Lake Vermilion. Whether you’re an investor looking for strong cash flow or a first-time home buyer wanting tenants to help pay the mortgage, this property offers endless potential.The building features four spacious 2-bedroom, 1-bath units with separate electric meters, allowing tenants to pay their own electricity. All units are currently rented at $1,000 per month on flexible month-to-month leases, providing immediate rental income with room for future rent increases.Located in one of northern Minnesota’s premier recreation destinations, this property offers quick access to boating, fishing, snowmobile trails, and ATV trails right outside your door. The historic building has seen updates throughout while still maintaining its character and charm.Additional opportunity available with a neighboring commercial lot that may be purchased together or separately.Live in one unit while the other tenants help offset your mortgage, or add a solid income-producing property to your portfolio in a highly desirable lake community.
Listing Information
Property Type: Multi-family, Four Plex
Status: Active
Bedrooms: 8
Bathrooms: 4
Lot Size: 0.16 Acres
Square Feet: 4,464 sq ft
Year Built: 1982
Foundation: 2,979 sq ft
Stories: 2 Stories
Subdivision: Tower
Number Of Units Total: 4
County: St. Louis
Days On Market: 56
Construction Status: Previously Owned
School Information
District: 2142 - St. Louis County
Additonal Room Information
Laundry: Other
Interior Features
Square Footage above: 4,464 sq ft
Utilities
Water: City Water - In Street
Sewer: City Sewer - In Street
Heating: Other, Boiler, Electric
Exterior / Lot Features
Open Parking: 4
Parking Description: gravel lot, Off Site, On-Street Parking Only
Exterior: Wood, Cedar
Lot Dimensions: 140x50
Zoning: Residential-Single Family
Driving Directions
Hwy 169 to home on left side next to ubetcha
Financial Considerations
Tenant Pays: Cable T.V.,Electric,Telephone,Trash
Owner Pays: Exterior Maintenance,Grounds Care,Insurance,Lawn,Maintenance/Repair,Sewer,Taxes,Water
Gross Income: 48000
Expense: 11000
Tax/Property ID: 080001003420
Tax Amount: 758
Tax Year: 2025
HomeStead Description: Non-Homesteaded
A broker reciprocity listing courtesy: Anchor 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.
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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 605 Main 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 605 Main 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.
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