For Sale: Monticello MLS# 7083432
Active
NEW!
$417,000
Multi-family: Triplex
5 br • 3 ba • Built 1956
2,977 sqft • 0.501 acres
Monticello schools
MLS# 7083432
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Property Description
Excellent turnkey triplex investment opportunity in Monticello! This fully occupied property features two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit with established tenants and lease agreements in place, offering immediate cash flow and stable rental income. Numerous updates have been completed throughout the property, including remodeled kitchens, bathrooms, flooring, fixtures, and finishes that contribute to strong tenant appeal and pride of ownership. Major improvements include a new roof (2025), new water heater (2025), and new furnace (2021), helping minimize future capital expenses. Separate electric meters serve each unit, and the property is situated on a spacious half-acre lot, offering exceptional outdoor space and flexibility rarely found with multifamily properties. Conveniently located near downtown Monticello, parks, schools, shopping, dining, and major commuter routes, this well-maintained property offers immediate cash flow, a strong rental history, and long-term investment potential. Income and expense information available upon request.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$417,000
Price per sq ft:
$140
Property Type:
Multi-family
City:
Monticello
Garage Spaces:
2
County:
Wright
Year Built:
1956
State:
MN
Property Style:
Triplex
Zip Code:
55362
Subdivision Name:
Lower Monticello
Interior
Bedrooms:
5
Bathrooms:
3
Finished Area:
2,977 ft2
Living Area:
2,977 ft2
Refrigerators:
Three
Basement Details:
Block
Exterior
Stories:
One and One Half
Garage Spaces:
2
Garage Dimensions:
35x21
Garage Size:
735 ft2
Foundation Size:
1,079 ft2
Handicap Accessible:
None
Heating System:
- Baseboard
- Forced Air
Shared Amenities:
- Coin-op Laundry Owned
- Laundry
Road Frontage:
City Street
Roof Details:
- Age 8 Years or Less
- Asphalt
Rooms
Laundry:
- Common Area
- Main Level
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.501
Geolocation:
45.302739, -93.788109
Lot Dimensions:
132 x 165 x 132 x 165
Zoning:
Residential-Multi-Family
Lot Description:
Corner Lot
Schools
School District:
882
District Phone:
7632722000
Expenses
Annual Caretaker Expense:
$6,450
Annual Electric Expense:
None
Annual Fuel Expense:
$1,800
Annual Insurance Expense:
$3,438
Annual Maintenance Expense:
$1,000
Annual Trash Expense:
$656
Annual Water/Sewer Expense:
$1,656
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$4,906
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$4,906
Income
Annual Gross Income:
$50,100
Misc. Annual Income:
$500
Misc. Monthly Income:
None
Rent
Annual Net Income:
$17,538
Units
Total Units:
3
Miscellaneous
Fuel System:
- Electric
- 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 RE/MAX Advantage Plus.
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.