Unique, multi-family, lakeshore property in the heart of Grand Rapids! This triplex sits on 1+ acres of beautifully manicured grounds including a creek and 318ft of frontage on Crystal (Ice) Lake. Units 1 & 3 feature private decks overlooking the lake, while Unit 2 has a walk-out, covered patio. Units 1 & 2 have 2 bedrooms and 1 full bath each and share a 2-stall, divided garage. The larger, split-level Unit 3 has 3 bedrooms and 2 full baths with an oversized 2-stall garage. All units are currently rented to tenants who hope to stay with new ownership. This beautiful property includes a dock, walking bridge over the creek, and ample guest parking. The location cannot be beat, across the street from Yanmar Ice Arena, 1/2 mile from the Mesabi biking trailhead, near numerous parks/recreation areas, and across the lake from the Itasca County fairgrounds. Enjoy the many year-round festivals and events Grand Rapids has to offer. Don't miss this one-of-a-kind investment opportunity in a prime Northwoods location!
Closed
$588,500
1220 NW 3rd Ave, Grand Rapids, MN 55744
7beds
4baths
3,536sqft
Triplex
Built in 1985
-- sqft lot
$618,000 Zestimate®
$166/sqft
$1,600 Estimated rent
Home value
$618,000
$544,000 - $705,000
$1,600/mo
Zestimate® history
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$3,625/mo
Est. payment
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Est. payment
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Zillow last checked:
Listing updated:
Listed by:
Susie Williamson 612-309-7397,
Coldwell Banker Realty,
Elizabeth Williamson 651-890-7386
Bought with:
JOEL PERRINGTON
COLDWELL BANKER NORTHWOODS
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 6550879
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 4
Heating
- Baseboard
Appliances
- Laundry: Electric Dryer Hookup, In Unit, Washer Hookup
Features
- Basement: Egress Window(s),Finished,Full,Walk-Out Access
Interior area
- Total structure area: 3,536
- Total interior livable area: 3,536 sqft
- Finished area above ground: 1,822
- Finished area below ground: 1,714
Property
Parking
- Total spaces: 4
- Parking features: Detached Garage, Gravel, Asphalt, Shared Driveway, Garage Door Opener, Multiple Garages, Storage
- Garage spaces: 4
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Patio & porch: Covered, Deck, Patio
- Pool features: None
- Fencing: None
- Has view: Yes
- View description: East, Lake
- Has water view: Yes
- Water view: Lake
- Waterfront features: Creek/Stream, Dock, Lake Front, Lake View, Waterfront Elevation(0-4), Lake Bottom(Hard, Reeds, Sand)
- Frontage length: Water Frontage: 318
Lot
- Size: 1.14 Acres
- Features: Accessible Shoreline, Tree Coverage - Medium
- Topography: Level,Walkout
Details
- Foundation area: 1714
- Parcel number: 915850210
- Zoning description: Residential-Multi-Family
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Materials
- Block
- Roof: Age 8 Years or Less,Architectural Shingle
Condition
- New construction: No
- Year built: 1985
Utilities & green energy
- Electric: Circuit Breakers, Power Company: Grand Rapids Public Utilities
- Gas: Electric
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & HOA
Community
- Subdivision: Kearneys 1st Add To Gr
HOA
- Amenities included: Boat Dock, Patio
Location
- Region: Grand Rapids
Financial & listing details
- Price per square foot: $166/sqft
- Tax assessed value: $464,400
- Annual tax amount: $6,684
- Date on market: 6/12/2024
- Cumulative days on market: 183 days
- Tenant pays: Cable TV, Electricity
- Road surface type: Paved, Unimproved
Price history
| Date | Event | Price |
|---|---|---|
| 1/8/2025 | Sold | $588,500-6.6%$166/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #6550879 Report a problem | ||
| 12/14/2024 | Pending sale | $630,000$178/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6550879 Report a problem | ||
| 8/30/2024 | Price change | $630,000-3.1%$178/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6550879 Report a problem | ||
| 6/14/2024 | Listed for sale | $650,000$184/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6550879 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,205 -6.5% | $464,400 +0.4% |
| 2024 | $6,639 -10.8% | $462,480 -1% |
| 2023 | $7,439 +21.8% | $467,000 |
| 2022 | $6,107 +8.8% | -- |
| 2021 | $5,615 -4.7% | -- |
| 2020 | $5,893 +2.3% | -- |
| 2019 | $5,761 -1.7% | -- |
| 2018 | $5,863 +1% | -- |
| 2017 | $5,806 -4.1% | -- |
| 2016 | $6,054 | -- |
| 2015 | $6,054 +6% | -- |
| 2014 | $5,712 | -- |
| 2013 | -- | -- |
| 2012 | -- | -- |
| 2011 | -- | -- |
| 2010 | -- | -- |
Find assessor info on the county website
Neighborhood: 55744
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Nearby schools
GreatSchools rating
- 8/10East Rapids ElementaryGrades: 3-5Distance: 1.1 mi
- 5/10Robert J. Elkington Middle SchoolGrades: 6-8Distance: 0.9 mi
- 7/10Grand Rapids Senior High SchoolGrades: 9-12Distance: 0.4 mi
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- Minnesota
- Itasca County
- Grand Rapids
- 55744
- 1220 NW 3rd Ave
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