Closed

$280,000

108 Cleveland Ave W, Underwood, MN 56586

8beds

4baths

3,456sqft

Quadruplex

Built in 1976

-- sqft lot

$283,400 Zestimate^®

$81/sqft

$1,141 Estimated rent

Home value

$283,400

$196,000 - $411,000

$1,141/mo

Zestimate^® history

Owner options

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$1,141/mo

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$1,141/mo

Rent Zestimate^®

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$1,700/mo

Est. payment

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$1,700/mo

Est. payment

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What's special

Shared coin-operated laundryDedicated garageExpansive grounds

This well-maintained investment property offers strong cash flow, minimal upkeep, and a proven rental history. A fantastic opportunity for first-time investors or a valuable addition to any portfolio, the building features four fully occupied 2-bedroom, 1-bath apartments. Each unit includes a dedicated garage, with tenants covering electricity costs—including heat—for added efficiency. Additional amenities include a shared coin-operated laundry and expansive grounds for tenant enjoyment. Ideally situated just one block from an excellent school, this property provides quiet small-town living with easy access to city conveniences. A short drive connects residents to shopping, employment, and entertainment options, making this a highly desirable rental location.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 8
Bathrooms: 4

Heating

Baseboard

Appliances

Laundry: Laundry Room

Features

Basement: Daylight

Interior area

Total structure area: 3,456
Total interior livable area: 3,456 sqft
Finished area above ground: 1,728
Finished area below ground: 1,728

Property

Parking

Total spaces: 4
Parking features: Detached Garage
Garage spaces: 4

Accessibility

Accessibility features: None

Features

Levels: Multi/Split

Lot

Size: 0.52 Acres
Dimensions: 50 x 150

Details

Foundation area: 1728
Parcel number: 80000990085000
Zoning description: Residential-Multi-Family

Construction

Type & style

Home type: MultiFamily
Property subtype: Quadruplex

Materials

Roof: Asphalt

Condition

New construction: No
Year built: 1976

Utilities & green energy

Gas: Electric
Sewer: City Sewer/Connected
Water: City Water/Connected

Community & HOA

Community

Subdivision: Underwood

Location

Region: Underwood

Financial & listing details

Price per square foot: $81/sqft
Annual tax amount: $2,762
Date on market: 5/1/2025
Cumulative days on market: 44 days
Tenant pays: Electricity

Price history

Date	Event	Price
6/12/2025	Sold	$280,000+1.8%$81/sqft
Source: NorthstarMLS as distributed by MLS GRID #6713002 Report a problem
5/1/2025	Listed for sale	$275,000+41%$80/sqft
Source: NorthstarMLS as distributed by MLS GRID #6713002 Report a problem
4/28/2017	Sold	$195,000+34.5%$56/sqft
Source: NorthstarMLS as distributed by MLS GRID #6053856 Report a problem
4/11/2008	Sold	$145,000$42/sqft
Source: Lake Superior Area Realtors as distributed by MLS GRID #1695688 Report a problem