Excellent Investment Opportunity – High-Producing Triplex Near Downtown! Don’t miss this well-maintained and income-generating triplex just minutes from downtown and the scenic
River Walk! Featuring numerous updates throughout, this property boasts a strong rental history with
reliable, long-term tenants. Each unit has separate entrances, offering a great mix of privacy and
convenience for tenants. Whether you're an experienced investor or just getting started, this turn-key property is a fantastic addition to any portfolio.
Closed
$265,000
408 W Lyon Ave, Lake City, MN 55041
6beds
5baths
2,784sqft
Triplex
Built in 1889
-- sqft lot
$-- Zestimate®
$95/sqft
$2,756 Estimated rent
Home value
Not available
Estimated sales range
Not available
$2,756/mo
Zestimate® history
Owner options
List your home for rent
$2,756/mo
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$2,756/mo
Rent Zestimate®
Refinance and save
$1,661/mo
Est. payment
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$1,661/mo
Est. payment
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List your homeWhat's special
Zillow last checked:
Listing updated:
Listed by:
Heidi Hartzell 651-380-9380,
Lakes Sotheby's International Realty
Bought with:
Carlos R. Pizarro Jr.
Northstar Real Estate Associates
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 6704741
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 5
Heating
- Forced Air
Appliances
- Laundry: In Unit
Features
- Basement: Block,Owner Access,Unfinished
Interior area
- Total structure area: 2,784
- Total interior livable area: 2,784 sqft
- Finished area above ground: 2,784
- Finished area below ground: 0
Property
Parking
- Parking features: Gravel
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Fencing: None
Lot
- Size: 7,405 Square Feet
- Dimensions: 99 x 77
- Features: Tree Coverage - Light
Details
- Foundation area: 1392
- Parcel number: R220063000
- Zoning description: Residential-Multi-Family
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Materials
- Frame
- Foundation: Stone
- Roof: Age 8 Years or Less
Condition
- New construction: No
- Year built: 1889
Utilities & green energy
- Electric: Circuit Breakers
- Gas: Natural Gas
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & HOA
Community
- Subdivision: Lake City
HOA
- Amenities included: None
Location
- Region: Lake City
Financial & listing details
- Price per square foot: $95/sqft
- Tax assessed value: $276,400
- Annual tax amount: $4,166
- Date on market: 4/21/2025
- Cumulative days on market: 98 days
- Tenant pays: Electricity, Heat
Price history
| Date | Event | Price |
|---|---|---|
| 9/8/2025 | Sold | $265,000-18.4%$95/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #6704741 Report a problem | ||
| 8/4/2025 | Pending sale | $324,900$117/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6704741 Report a problem | ||
| 6/24/2025 | Price change | $324,900-7.1%$117/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6704741 Report a problem | ||
| 4/28/2025 | Listed for sale | $349,900+128.8%$126/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6704741 Report a problem | ||
| 11/23/2024 | Listing removed | $1,000 |
Source: Zillow Rentals Report a problem | ||
| 10/31/2024 | Listed for rent | $1,000 |
Source: Zillow Rentals Report a problem | ||
| 10/28/2004 | Sold | $152,900+135.2%$55/sqft |
Source: Agent Provided Report a problem | ||
| 9/16/1996 | Sold | $65,000$23/sqft |
Source: Agent Provided Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,166 +37.4% | $276,400 +6.8% |
| 2024 | $3,032 -2.4% | $258,700 +7.3% |
| 2023 | $3,106 +11.2% | $241,100 +21.9% |
| 2022 | $2,794 +3.6% | $197,800 |
| 2021 | $2,698 +8.6% | $197,800 +3.8% |
| 2020 | $2,484 -2.1% | $190,500 +7.4% |
| 2019 | $2,538 | $177,400 +0.5% |
| 2018 | $2,538 +10.3% | $176,500 +8.1% |
| 2017 | $2,302 -0.9% | $163,200 |
| 2016 | $2,324 | -- |
| 2015 | $2,324 +19.2% | -- |
| 2012 | $1,950 | -- |
| 2011 | -- | -- |
| 2010 | -- | -- |
Find assessor info on the county website
Neighborhood: 55041
Nearby homes
- $369,3003 bd3 ba1.4k sqft406 W Lyon Ave, Lake City, MN 55041Off Market
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- $264,7003 bd2 ba1.5k sqft118 N Prairie St, Lake City, MN 55041Off Market
Nearby schools
GreatSchools rating
- 5/10Bluff View Elementary SchoolGrades: PK-6Distance: 0.8 mi
- 7/10Lincoln SecondaryGrades: 7-12Distance: 0.2 mi
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- Minnesota
- Wabasha County
- Lake City
- 55041
- 408 W Lyon Ave
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