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.
Active
$249,900
220 E 7th St, Albert Lea, MN 56007
4beds
4baths
2,800sqft
Fourplex
Built in 1949
-- sqft lot
$241,700 Zestimate®
$89/sqft
$-- HOA
What's special
Some flooringNew roofElectric services
- 97 days
- 113
- 5
Zillow last checked:
Listing updated:
Listed by:
Lanier Pratt 507-473-0390,
Keller Williams Premier Realty
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 7104298
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: 99 days
- Tenant pays: Electricity
Estimated market value
$241,700
$230,000 - $254,000
$1,143/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 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 56007
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