Active

$249,900

220 E 7th St, Albert Lea, MN 56007

4beds

4baths

2,800sqft

$1,682/mo

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Fourplex

Built in 1949

-- sqft lot

$240,600 Zestimate^®

$89/sqft

$-- HOA

What's special

Some flooringNew roofElectric services

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.

50 days

129

10

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 4
Bathrooms: 4

Heating

Baseboard, Ductless Mini-Split

Features

Basement: None

Interior area

Total structure area: 2,800
Total interior livable area: 2,800 sqft
Finished area above ground: 2,800
Finished area below ground: 0

Property

Parking

Total spaces: 3
Parking features: Carport, Detached Garage, Gravel
Garage spaces: 2
Carport spaces: 1
Details: Garage Dimensions (22x28)

Accessibility

Accessibility features: None

Features

Levels: Two

Lot

Size: 7,000 Square Feet
Dimensions: 50 x 140

Details

Foundation area: 1400
Parcel number: 340490110

Construction

Type & style

Home type: MultiFamily
Property subtype: Fourplex

Condition

New construction: No
Year built: 1949

Utilities & green energy

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

Community & HOA

Location

Region: Albert Lea

Financial & listing details

Price per square foot: $89/sqft
Tax assessed value: $195,500
Annual tax amount: $3,584
Date on market: 7/6/2026
Cumulative days on market: 53 days
Tenant pays: Electricity

Estimated market value

$240,600

$229,000 - $253,000

$1,241/mo

Price history

Date	Event	Price
7/6/2026	Listed for sale	$249,900+28.2%$89/sqft
Source: NorthstarMLS as distributed by MLS GRID #7104298 Report a problem
5/3/2023	Sold	$195,000-4.9%$70/sqft
Source: NorthstarMLS as distributed by MLS GRID #6306297 Report a problem
5/1/2023	Pending sale	$205,000$73/sqft
Source: NorthstarMLS as distributed by MLS GRID #6306297 Report a problem
11/4/2022	Listed for sale	$205,000+115.8%$73/sqft
Source: NorthstarMLS as distributed by MLS GRID #6306297 Report a problem
5/28/2010	Sold	$95,000$34/sqft
Source: Agent Provided Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$4,450 +40.3%	$195,500 +74.9%
2024	$3,172 -2.5%	$111,800 +12.9%
2023	$3,252 +0.7%	$99,000 -0.2%
2022	$3,228 +27.6%	$99,200 +14.8%
2021	$2,530	$86,400 +7.2%
2020	$2,530 +96.4%	$80,600
2019	$1,288	--
2018	$1,288 -4.3%	--
2016	$1,346 +2.6%	--
2015	$1,312 -0.8%	--
2014	$1,322 -22.1%	--
2012	$1,698	--
2011	--	--
2010	--	--