506 W College Street, Albert Lea, MN 56007 (MLS# 7131214)

506 W College Street, Albert Lea, MN 56007

New Listing
$179,900
Property Type: Multi-Family Bedrooms: 5 Baths: 2 Square Footage: 2,688 Lot Size (sq. ft.): 7,841 Status: Active
Current Price: $179,900 List Date: 8/21/2026 Last Modified: 8/22/2026

Overview

Description

Very nice up and down duplex. Main floor unit offers 3 bedrooms, 1 bath, full basement, back deck and a fenced in yard. Upper unit offers 2 bedrooms, 1 bathroom, spacious living area with in unit laundry. Detached garage with parking.

Listing Details MLS# 7131214

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Owner Occupied
No
Waterfront YN
No
Year Built
1883
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Main Floor Total SqFt
896
Above Ground SqFt
1792
Below Grd Total SqFt
896
Total SqFt
2688
Foundation Size
896
Style
(MF) Duplex Up and Down
Total Finished Sqft
1792.00
Garage Stalls
2
Lot Dimensions
65x123
Acres
0.18
Assessment Pending
No

Property Features

Accessible: None Assumable Loan: Not Assumable Basement: Concrete Block; Single Tenant Access Construction Status: Previously Owned Existing Financing: Conventional Exterior: Wood Fencing: Chain Link Foundation: Concrete Block Fuel: Natural Gas Heating: Forced Air Laundry: In Basement; In Unit Lock Box Type: Supra Owner Pays: Gas; Trash Collection; Water Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Asphalt Shingles Sellers Terms: Cash; Conventional Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity Unit 1 Amenities: Deck; Hardwood Floors; Washer/Dryer Hookup Unit 1 Appliances: Stainless Steel Appliances; Dishwasher; Dryer; Microwave; Range; Refrigerator Unit 1 Bath Description: Main Floor Full Bath Unit 1 Cooling: Central Unit 1 Dining Room Description: Breakfast Area Unit 2 Appliances: Dryer; Microwave; Range; Refrigerator; Washer Unit 2 Cooling: Central Water: City Water/Connected

Contract Information

Contingency
None
Original List Price
179900
ListPrice
179900
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
506
Street Direction Prefix
W
Street Name
College
Street Suffix
Street
Postal City
Albert Lea
County
Freeborn
State
MN
Zip Code
56007
Complex/Dev/Subdivision
Morins Add

Assessments

Tax With Assessments
4134
Assessment Balance
0

Basement

Foundation Dimensions
32x28
Concrete Block
Yes
Single Tenant Access
Yes

More Information

Building Information

Finished SqFt Above Ground
1792

Income and Expenses

Annual Fuel Expense
1662
Annual Gross Income
20700
Annual Trash Expense
388
Annual Water/Sewer Expense
1150
Annual Caretaker Expense
0
Annual Electric Expense
0
Annual Gross Expenses
0
Annual Insurance Expense
0
Annual Maintenance Expense
0
Annual Repair Expense
0
Total Annual Expenses
0

Lease Details

Land Leased
Not Applicable

Lock Box Type

Lock Box Source
SEMR
Supra
Yes

Miscellaneous Information

DP Resource
Yes
Homestead
No

Ownership

Fractional Ownership
No

Parking Characteristics

Garage Dimensions
18x20
Garage Square Feet
360

Unit 1

Furnished?
No
Lease Expiration Date
2026-09-30
Leased?
Yes
Level
Main Level
Unit Number
Yes
Annual Rent
12600
Finished SqFt
896
Full Baths
Yes
Monthly Rent
1050
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
3
Total Rooms
6

Unit 2

Furnished?
No
Lease Expiration Date
2026-09-30
Leased?
Yes
Level
2nd Level
Unit Number
2
Annual Rent
11400
Finished SqFt
896
Full Baths
Yes
Monthly Rent
950
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
2
Total Rooms
4

Unit Details

Total Units
2

Office/Member Info

Association
SEMR

Location, Tax and Other Information

Legal Description
MORIN'S ADDITION E 65 FT OF LOT 5 BLK 6 MORINS ADDITION
Listing City
Albert Lea
Map Page
999
Municipality
Albert Lea
School District
Albert Lea
School District Phone
507-379-4800
Zip Plus 4
4022
Property ID Number
340072040
Tax Year
2026
Tax Amount
3994
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
Very nice up and down duplex. Main floor unit offers 3 bedrooms, 1 bath, full basement, back deck and a fenced in yard. Upper unit offers 2 bedrooms, 1 bathroom, spacious living area with in unit laundry. Detached garage with parking.
Directions
South on I-35, Exit 12, left turn on Euclid Ave. Right on college street.

Accessible

None
Yes

Assumable Loan

Not Assumable
Yes

Construction Status

Previously Owned
Yes

Existing Financing

Conventional
Yes

Exterior

Wood
Yes

Fencing

Chain Link
Yes

Foundation

Concrete Block
Yes

Fuel

Natural Gas
Yes

Heating

Forced Air
Yes

Laundry

In Basement
Yes
In Unit
Yes

Owner Pays

Gas
Yes
Trash Collection
Yes
Water
Yes

Patio, Porch and Deck Features

Deck
Yes

Rental License Type

Standard
Yes

Road Frontage

City Street
Yes

Road Responsibility

Public Maintained Road
Yes

Roof

Age Over 8 Years
Yes
Asphalt Shingles
Yes

Sellers Terms

Cash
Yes
Conventional
Yes

Sewer

City Sewer/Connected
Yes

Stories

Two
Yes

Water

City Water/Connected
Yes

No. of Ranges

Two
Yes

No. of Refrigerators

Two
Yes

Tenant Pays

Electricity
Yes

Unit 1 Amenities

Deck
Yes
Hardwood Floors
Yes
Washer/Dryer Hookup
Yes

Unit 1 Appliances

Stainless Steel Appliances
Yes
Dishwasher
Yes
Dryer
Yes
Microwave
Yes
Range
Yes
Refrigerator
Yes

Unit 1 Bath Description

Main Floor Full Bath
Yes

Unit 1 Cooling

Central
Yes

Unit 1 Dining Room Description

Breakfast Area
Yes

Unit 2 Appliances

Dryer
Yes
Microwave
Yes
Range
Yes
Refrigerator
Yes
Washer
Yes

Unit 2 Cooling

Central
Yes
IDX
Listing Office: Robert Hoffman Realty Inc.
Last Updated: August - 22 - 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.
Search powered by FBS Products