1202 Elm Street, Alexandria, MN 56308 (MLS# 7157891)

1202 Elm Street, Alexandria, MN 56308

New Listing

$220,000

Property Type: Multi-Family Bedrooms: 5 Baths: 3 Square Footage: 2,352 Lot Size (sq. ft.): 13,939 Status: Active

Current Price: $220,000 List Date: 10/09/2026 Last Modified: 10/10/2026

Overview

Description

Income-Producing Investment Property | 3 Units | Detached 2-Stall Garage Investors, take note! This unique property offers three existing rental units, a detached two-stall garage (garage not currently rented), and a large, level corner lot with additional income potential. Currently generating $31,800 in annual gross income with reported annual expenses of $10,559, the property produces an estimated annual net income of $21,241. Originally built as a single-family home, the property has been converted into three separate rental units. The original interior staircase remains intact, with doorways currently separating the units, offering the potential to explore a conversion back to a single-family residence, subject to applicable requirements. The exterior is in good condition, while the interior offers an opportunity for updates and improvements to enhance the property’s value and rental potential. Buyers should anticipate interior work, including flooring updates and possible plumb ... (Read more)

Listing Details MLS# 7157891

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1900
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Main Floor Total SqFt: 784
Above Ground SqFt: 1568
Below Grd Total SqFt: 784
Total SqFt: 2352
Foundation Size: 784
Style: (MF) Triplex
Total Finished Sqft: 2168.00
Power Company: Alexandria Light & Power
Garage Stalls: 2
Lot Dimensions: 90 x 158 x 80 x 130
Acres: 0.32
Assessment Pending: No

Property Features

Accessible: None Amenities Shared: Common Laundry Facility Construction Materials: Block Construction Status: Previously Owned Electric: Circuit Breakers Exterior: Vinyl Fencing: None Foundation: Concrete Block Fuel: Natural Gas Heating: Forced Air Internet Options: Satellite Laundry: Lower Level; Main Level Lock Box Type: Supra Lot Description: Corner Lot; Tree Coverage - Medium Owner Pays: Electricity; Fuel; Insurance; Sewer; Taxes; Water Parking Characteristics: Driveway - Shared; Gravel Lot Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age Over 8 Years Sewer: City Sewer/Connected Stories: Two Tenant Pays: Cable TV; Lawn; Trash Collection Topography: Level Unit 1 Appliances: Range; Refrigerator Unit 1 Cooling: Central Unit 2 Amenities: Porch Unit 2 Appliances: Range; Refrigerator Unit 2 Cooling: Central Unit 3 Amenities: Deck Unit 3 Appliances: Range; Refrigerator Unit 3 Cooling: Central Unit 3 Dining Room Description: Eat In Kitchen Water: City Water/Connected

Contract Information

Contingency: None
Original List Price: 220000
ListPrice: 220000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 1202
Street Name: Elm
Street Suffix: Street
Postal City: Alexandria
County: Douglas
State: MN
Zip Code: 56308
Complex/Dev/Subdivision: Hicks 3rd Add

Assessments

Tax With Assessments: 2768

Basement

Foundation Dimensions: 28 x 28

More Information

Building Information

Finished SqFt Above Ground: 1568
Finished SqFt Below Ground: 600

Income and Expenses

Annual Caretaker Expense: 10559
Annual Electric Expense: 4648.47
Annual Fuel Expense: 2253.15
Annual Gross Expenses: 10559
Annual Gross Income: 31800
Annual Insurance Expense: 888.83
Annual Net Income: 21241
Annual Water/Sewer Expense: 4648.47
Total Annual Expenses: 10559

Lease Details

Land Leased: Not Applicable

Lock Box Type

Lock Box Source: ALEX

Miscellaneous Information

DP Resource: Yes
Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Dimensions: 22 x 20
Garage Square Feet: 440

Public Survey Info

Range#: 37
Section#: 19
Township#: 128

Unit 1

Furnished?: No
Lease Expiration Date: 2026-12-31
Leased?: Yes
Level: Below Ground
Unit Number: Yes
Annual Rent: 8400
Finished SqFt: 600
Full Baths: Yes
Monthly Expense: 294
Monthly Rent: 700
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: Yes
Total Rooms: Yes

Unit 2

Furnished?: No
Lease Expiration Date: 2026-12-31
Leased?: Yes
Level: Main Level
Unit Number: 2
Annual Rent: 12600
Finished SqFt: 784
Full Baths: Yes
Monthly Expense: 294
Monthly Rent: 1050
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 2

Unit 3

Furnished?: No
Lease Expiration Date: 2026-12-31
Leased?: Yes
Level: 2nd Level
Unit Number: 3
Annual Rent: 10800
Finished SqFt: 784
Full Baths: Yes
Monthly Expense: 294
Monthly Rent: 900
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 3

Unit Details

Total Units: 3

Listing Office: Central MN Realty LLC

Last Updated: October - 10 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

1202 Elm Street, Alexandria, MN 56308 (MLS# 7157891)