For Sale: Alexandria MLS# 7098633
Active
$235,000
Multi-family: Triplex
5 br • 3 ba • Built 1900
2,564 sqft • 0.144 acres
Alexandria schools
MLS# 7098633
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Property Description
Don’t miss this opportunity to own a triplex with a strong rental history in Alexandria. Based on the current rental income and purchase price, this property is currently performing at approximately 1.4%, surpassing the commonly used 1% rule—an increasingly difficult investment benchmark to find. With established rental income already in place, a new owner can begin cash flowing right away.
As Alexandria continues to grow, rental demand remains strong. Whether you’re looking to expand your investment portfolio or live in one unit while the other two help offset your mortgage, this property offers excellent flexibility and income potential.
The main floor features a spacious 2-bedroom unit along with an additional 1-bedroom unit. Upstairs, you’ll find another 2-bedroom unit. Shared coin-operated laundry is conveniently located in the basement, and the detached double garage offers additional parking, storage, or potential rental income.
Conveniently located near downtown, parks, and everyday amenities, this is a great opportunity for both investors and owner-occupants.
A minimum of 24-hour notice is required for showings; 48-hour notice is preferred.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$235,000
Price per sq ft:
$92
Property Type:
Multi-family
City:
Alexandria
Garage Spaces:
2
County:
Douglas
Year Built:
1900
State:
MN
Property Style:
Triplex
Zip Code:
56308
Subdivision Name:
Original Alexandria
Interior
Bedrooms:
5
Bathrooms:
3
Finished Area:
2,564 ft2
Living Area:
2,564 ft2
Refrigerators:
Three
Basement Details:
Unfinished
Exterior
Stories:
One and One Half
Garage Spaces:
2
Garage Dimensions:
24x18
Garage Size:
431 ft2
Garage Door Height:
7
Foundation Size:
1,800 ft2
Foundation Dimensions:
40x45
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
Detached Garage
Shared Amenities:
Coin-op Laundry Owned
Road Frontage:
City Street
Exterior Material:
Frame
Rooms
Laundry:
Common Area
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.144
Geolocation:
45.886126, -95.373335
Lot Dimensions:
70 x 90
Zoning:
Residential-Multi-Family
Schools
School District:
206
District Phone:
3207622141
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
$3,600
Annual Insurance Expense:
$1,500
Annual Maintenance Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
$900
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$2,258
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$2,258
Income
Annual Gross Income:
$40,068
Units
Total Units:
3
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Central MN Realty LLC.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.