415 7th Ave E, Alexandria, MN 56308

Live in one unit while the other two help cover your payment! This one-of-a-kind Italianate Victorian multifamily offers a rare opportunity for owner-occupants or investors seeking flexibility, character, and income potential. The property is thoughtfully laid out with 3 distinct living options. The shared living unit features 8 private bedrooms with shared kitchen, living, laundry, and bath areas—ideal for owner-occupancy, group housing, or a short-term rental model. In addition, two separate income-producing units include a private 3 bedroom apartment with sunroom and a main-level 1 bedroom unit with kitchen and full bath. Rent from the additional units can significantly offset—or potentially cover—your monthly housing costs. Rich in historic charm, the home showcases ornate Victorian details, hardwood floors, tall ceilings, and classic clawfoot tubs, blending timeless character with modern multi-use functionality. Exterior features include a spacious yard with patio areas, a 3 car detached garage, plus an attached 1 stall garage, providing ample parking and storage. Whether you’re looking to live affordably while building equity, expand your investment portfolio, or operate a unique housing model, this exceptional property offers versatility and income potential rarely found on the market.