1302 Madison Avenue, Albert Lea, MN
$ 248,000
Property Attributes
  • ID#6541159
  • TypeMulti-Family
  • CountyFREEBORN
  • CityAlbert Lea
  • AreaPob Sub
  • NeighborhoodPob Sub
  • Zip56007
  • StyleQuadruplex
  • Year Built1928
  • Taxes$ 3576
  • Price$ 248,000
  • Bedrooms4
  • Full Bathrooms2
  • Half Bathrooms0
  • Sqr Footage3512
  • Lot Size1.99 Acres
Data Source:
Northstar MLS (NSTAR)
Property Description

Fully rented 4-plex. All units are 2 bedrooms with a full bathroom. Large cement off the back overlooks an open field. 3 units have their own laundry in the lower level. Unit 4 has laundry in the unit. All units have additional storage in the lower level. Electric and gas is split so each unit pays their own. Off street parking.

Price History
5/22/2024 Listed $248,000

General Features

Sewer City Sewer/Connected
Heating Forced Air
Roof Age 8 Years or Less,Asphalt
Construction Materials Shake Siding
Year Built 1928
Electric Circuit Breakers
Tenant Pays Cable TV,Electricity,Gas
Levels One
Property SubType Quadruplex
Tax Year 2024
Gross Income 36000
OwnerPays Grounds Care,Snow Removal,Trash Collection
Accessibility None
County Freeborn
Insurance Expense 1470
New Construction No
Property Type Residential Income
Contingency None
MaintenanceExpense 315
Subdivision Name Pob Sub
Directions East on Front St from Broadway Ave,left onto Madison Ave,drive to the end of the road and turn right.
City Albert Lea
Buyer Agent Compensation 2.50
High School District Albert Lea
Zoning Description Residential-Multi-Family
NumberOfUnitsTotal 4
Lot Size Units Acres
Land Lease Y/N No
Tax Annual Amount 3576
Electric Expense 86.64
Trash Expense 960
Water Sewer Expense 1440
Additional Parcels Y/N No
Days on Market 19
Standard Status Active
Lender Owned No
Buyer Agent Compensation Type %
PostalCity Albert Lea

Interior Features

Basement Block
Basement (Y/N) Yes
Above Grade Finished Area 2612
Below Grade Finished Area 900
Fuel Natural Gas

Exterior Features

Parking Features Gravel,Parking Lot
Water Source City Water/Connected
Lot Size Area 1.99
Lot Dimensions 330x265
Foundation Area 2612


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 56007

AVG $190K
AVG $1,832
AVG 217
Data Provided by Inside Real Estate®
Year Built
AVG 1930

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