Rare opportunity to acquire a fully stabilized, newer-construction 16-unit portfolio delivering immediate cash flow and long-term upside. Built in 2021/2022, this package includes four 4-plexes (two two-story, one single-level, one bi-level) strategically positioned on 2.15 acres. This is true turnkey investing—all 16 units are fully leased with a proven rental history, minimizing lease-up risk and operational uncertainty from day one. Units are designed for durability and tenant retention, featuring modern, low-maintenance finishes including LVP flooring, stainless appliances, spacious kitchens with islands, in-unit laundry, and separate HVAC systems. Private patios/decks, strong natural light, and ample off-street parking enhance tenant appeal and support consistent occupancy. Investment Highlights: 17,208 finished sq ft, 16 units, 36 bedrooms, 20 bathrooms, Gross annual income: $243,000, Operating expenses: $61,692 Strong in-place cash flow with efficient expense ratio. Newer construction = reduced capital expenditure risk. With limited comparable inventory of newer multi-family assets, this portfolio offers a compelling blend of stability, efficiency, and scalability. Ideal for investors seeking immediate yield with long-term hold potential. Offered as a package. Full financials and rent roll available upon request.
Active
$2,400,000
220 Maple Ave SW, Elysian, MN 56028
9beds
17,280sqft
Multi Family
Built in ----
-- sqft lot
$-- Zestimate®
$139/sqft
$-- HOA
What's special
Modern low-maintenance finishesLvp flooringAmple off-street parkingIn-unit laundryStrong natural lightStainless appliancesSpacious kitchens with islands
- 147 days |
- 180 |
- 7 |
Zillow last checked:
Listing updated:
Listed by:
REBECCA THATE,
Re/Max Advantage Plus Mankato
Source: RASM,MLS#: 7039821
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 9
- Bathrooms: 5
- Full bathrooms: 5
- Main level bedrooms: 7
Heating
- Forced Air, Natural Gas
Cooling
- Unit 1: Central Air, Unit 2: Central Air, Unit 3: Central Air
Appliances
- Included: Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer, Range/Stove, Electric Water Heater, Gas Water Heater, Individual Water Heaters
- Laundry: Unit 1: Washer/Dryer Hookups, Unit 2: Washer/Dryer Hookups, Unit 3: Washer/Dryer Hookups
Features
- Unit 1: Ceiling Fan(s), Eat-In Kitchen, Kitchen Center Island, Natural Woodwork, Unit 2: Ceiling Fan(s), Eat-In Kitchen, Kitchen Center Island, Natural Woodwork, Unit 3: Ceiling Fan(s), Eat-In Kitchen, Kitchen Center Island, Natural Woodwork, Walk-In Closet(s), Main Floor Bedrooms
- Has basement: Yes
- Has fireplace: No
Interior area
- Total structure area: 17,280
- Total interior livable area: 17,280 sqft
- Finished area above ground: 17,280
- Finished area below ground: 0
Video & virtual tour
Property
Parking
- Total spaces: 6
- Parking features: None, Off Street, # Off Street Prkng Sp (L)
Accessibility
- Accessibility features: No Stairs Internal, Accessible Doors
Features
- Levels: Two
- Stories: 2
- Patio & porch: Deck, Patio
Lot
- Size: 2.15 Acres
- Dimensions: 2.15 acres
- Features: Corner Lot, Landscaped, Paved, Telephone
Details
- Foundation area: 11552
- Parcel number: 164260030
- Other equipment: Air to Air Exchange
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Frame/Wood, Stone, Vinyl Siding
- Foundation: Slab
- Roof: Asphalt
Condition
- Previously Owned
- New construction: No
Utilities & green energy
- Sewer: City
- Water: Public
Community & HOA
Location
- Region: Elysian
Financial & listing details
- Price per square foot: $139/sqft
- Tax assessed value: $748,500
- Annual tax amount: $24,772
- Date on market: 4/1/2026
- Listing terms: Cash,Conventional
- Lease term: 12 Months
- Total actual rent: 5100
- Tenant pays: Broadband, Cable TV, Electricity, Water/Sewer, Fuel
- Road surface type: Curb/Gutters, Paved
Estimated market value
Not available
Estimated sales range
Not available
$1,941/mo
Price history
| Date | Event | Price |
|---|---|---|
| 4/1/2026 | Listed for sale | $2,400,000$139/sqft |
Source:  RASM #7039821 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $12,051 +82.6% | $748,500 +4.8% |
| 2024 | $6,599 +364.1% | $714,300 +74.7% |
| 2023 | $1,422 +64.6% | $408,800 +374.2% |
| 2022 | $864 +116% | $86,200 +92% |
| 2021 | $400 | $44,900 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 56028
Nearby schools
GreatSchools rating
- 6/10Waterville Elementary SchoolGrades: PK-4Distance: 5.9 mi
- 8/10Waterville-Elysian-Morristown Jr.Grades: 7-8Distance: 11.8 mi
- 6/10Waterville-Elysian-Morristown Sr.Grades: 9-12Distance: 5.9 mi
Schools provided by the listing agent
- District: Waterville-Elysian-Morristown #2143
Source: RASM. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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