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$349,900

150 2nd Avenue SWElgin, MN 55932

Type: Multi-Family

4 Units

Description

Excellent investment opportunity in Elgin! This well-maintained 4-plex features numerous updates, including a new roof in 2023 and updated windows, siding, and boiler in 2016. Additional improvements include a new coin-operated washer and dryer, providing added convenience and income potential. Tenants enjoy off-street parking, while owners will appreciate the storage shed for lawn equipment and additional storage needs. Situated on a desirable corner lot directly across from the school, park, and ball fields, this property offers a great location with easy access to nearby walking trails and community amenities. Water softener is rented through Culligan and located in the utility room. Strong rental appeal, major mechanical updates, and a prime location make this a fantastic addition to any investment portfolio!

MLS ID: 7093939

Directions: Take Hwy 42 into Elgin, turn West on 1st St SE, go 4 blocks turn left on 2nd Ave SW, property down on the left.

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Property Details

Essential Details

MLS #: 7093939

Listing courtesy of: RE/MAX Advantage Plus

Price: $349,900

Type: Multi-Family

Contingency: None

Foreclosure: No

Total Units: 4

Annual Gross Income: $22,200

Operating Expense: $10,653

Annual Electric Expense: $2,999

Annual Fuel Expense: $3,077

Annual Insurance Expense: $2,471

Annual Maintenance Expense: $2,028

Annual Annual Expense: $1,392

Annual Water/Sewer Expense: $1,685

Tenant Pays: Broadband, Cable TV, Electricity, Telephone

Owner Pays: Common Area Maintenance, Exterior Maintenance, Fuel, Grounds Care, Heat, HVAC Maintenance, Insurance, Repairs, Roof Maintenance, Sewer, Snow Removal, Water

Parking Features: Gravel, Parking Lot

Building Details

Owner Occupied: Yes

Finished SqFt Total: 3,552

Finished Above Grade: 1,776

Finished Below Grade: 1,776

Fireplace: No

AccessibilityFeatures: None

Roof: Age 8 Years or Less

Heating: Baseboard, Boiler

Style: Fourplex

Foundation Area: 1,776

Sewer: City Sewer/Connected

Water Source: City Water/Connected

Present Use: Yearly

Lot Details

Complex/Dev/Sub Name: Millers Add

Lot Dimensions: 82x150

School Information

District: Plainview-Elgin-Millville

District Number: 2899

District Phone: 5075343651

Community Information

County: Wabasha

Survey Range: 12

Survey Section: 27

Survey Township: 108

Taxes

Tax Year: 2026

Tax Amount: $5,186

Assessment Pending: No

Taxes w/Assessments: $5,186

This listing was last updated by RE/MAX Advantage Plus on 6/16/2026 at 12:36 pm.

Information is deemed to be reliable, but is not guaranteed. Such information cannot be duplicated or distributed in any manner without the express written consent of the owning association. Data is deemed reliable but not guaranteed.

Records last updated at 6/16/2026 6:06 pm.

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. Real estate listings held by brokerage firms other than Castle Realty of Winona are marked with the Broker Reciprocity^SM logo or the Broker Reciprocity^SM thumbnail logo (little black house) and detailed information about them includes the name of the listing brokers.

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