1229-1231 Jefferson Street, Alexandria, MN 56308 (MLS# 7160511)

1229-1231 Jefferson Street, Alexandria, MN 56308

New Listing
$570,000
Property Type: Multi-Family Bedrooms: 11 Baths: 4 Square Footage: 3,800 Lot Size (sq. ft.): 39,204 Status: Active
Current Price: $570,000 List Date: 10/16/2026 Last Modified: 10/16/2026

Overview

Description

INVESTMENT OPPORTUNITY! Looking to expand your real estate portfolio? This fully occupied 4-plex offers an excellent opportunity to invest in a multi-family property! Featuring three 3-bedroom, 1-bath units and one 2-bedroom, 1-bath unit, this property boasts a 100% occupancy rate and the convenience of in-unit laundry in every apartment. Additional highlights include two 2-stall garages, along with a New roof on both the building and garages! Both lower-level apartments (Units 1 and 4) have undergone kitchen renovations. A centralized utility room houses the boiler, water heaters, and water softener. The property also recently passed its city rental inspection in August, meeting the new HUD NSPIRE inspection criteria model requirements, with approval good for the next four years. With full occupancy, recent improvements, and desirable amenities, this property is a great addition to any investment portfolio! See supplements for apartment layouts.

Listing Details MLS# 7160511

General Property Information

Lot Measurement
Acres
Multiple PIDs?
Yes
Waterfront YN
No
Year Built
1966
Yearly/Seasonal
Yearly
Main Floor Total SqFt
1900
Above Ground SqFt
1900
Below Grd Total SqFt
1900
Total SqFt
3800
Foundation Size
1900
Style
(MF) Four Plex
Total Finished Sqft
3800.00
Power Company
Alexandria Light & Power
Garage Stalls
4
Lot Dimensions
299x152x299x152
Acres
0.9
Assessment Pending
No

Property Features

Accessible: None Basement: Full Construction Materials: Frame Construction Status: Previously Owned Electric: Circuit Breakers Exterior: Wood Fencing: None Foundation: Concrete Block Fuel: Natural Gas Heating: Boiler Internet Options: Cable Laundry: In Unit Lock Box Type: None Lot Description: Tree Coverage - Light Owner Pays: Heat; Insurance; Lawn; Maintenance/Repair; Sewer; Snow Removal; Trash Collection; Water Pool Description: None Road Frontage: City Street; Paved Streets; Sidewalks Road Responsibility: Public Maintained Road Roof: Age 8 Years or Less Sewer: City Sewer/Connected Topography: Level Unit 1 Amenities: None Unit 1 Appliances: Dishwasher; Dryer; Range; Refrigerator; Washer Unit 1 Bath Description: Main Floor Full Bath Unit 1 Cooling: Wall Unit 1 Dining Room Description: Eat In Kitchen Unit 2 Appliances: Dishwasher; Dryer; Range; Refrigerator; Washer Unit 2 Cooling: Wall Water: City Water/Connected

Contract Information

Contingency
None
Original List Price
570000
ListPrice
570000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
1229-1231
Street Name
Jefferson
Street Suffix
Street
Postal City
Alexandria
County
Douglas
State
MN
Zip Code
56308
Complex/Dev/Subdivision
Jefferson Condo 102

Additional Parcels Information

Property ID #2
631591200
Property ID #3
631591300,631591400

Assessments

Tax With Assessments
5872

More Information

Building Information

Finished SqFt Above Ground
1900
Finished SqFt Below Ground
1900

Income and Expenses

Annual Electric Expense
423
Annual Fuel Expense
1875
Annual Gross Expenses
16695
Annual Gross Income
68000
Annual Insurance Expense
2442
Annual Maintenance Expense
500
Annual Net Income
51304
Annual Repair Expense
500
Annual Trash Expense
703
Annual Water/Sewer Expense
2177
Total Annual Expenses
15695

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

DP Resource
Yes
Homestead
No

Ownership

Fractional Ownership
No

Parking Characteristics

Garage Square Feet
1232

Public Survey Info

Range#
37
Section#
19
Township#
128

Unit 1

Furnished?
No
Leased?
Yes
Unit Number
Yes
Annual Rent
13200
Finished SqFt
849
Full Baths
Yes
Monthly Expense
108
Monthly Rent
1100
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
2
Total Rooms
6

Unit 2

Furnished?
No
Leased?
Yes
Unit Number
2
Annual Rent
18120
Finished SqFt
959
Full Baths
Yes
Monthly Expense
108
Monthly Rent
1510
No. of Units Like This
3
Total Baths
Yes
Total Bedrooms
3
Total Rooms
7

Unit Details

Total Units
4
IDX
Listing Office: Central MN Realty LLC
Last Updated: October - 16 - 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.