For Sale: Albert Lea MLS# 6816926
Active
NEW!
$259,900
Multi-family: Apartments
Built 1920
3,496 sqft • 0.04 acres
Albert Lea schools
MLS# 6816926
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Property Description
Welcome to 115 Newton N Avenue, where modern luxury meets unbeatable location! Whether you’re looking for an investment property with outstanding ROI, a turn-key Airbnb, long term lease property, or a stylish live/work setup, this stunning, fully renovated gem has it all!
Prime Features & Flexibility
• Brand-new off-street parking lot with 24-hour parking—a rare find downtown!
• Zoned for both commercial and residential use – endless possibilities!
o Run your business on the main level and live upstairs,
o OR operate commercial spaces on both floors,
o OR lease out as two separate income-producing units!
• Not eligible for traditional home mortgages – must be financed as a commercial loan (but the ROI makes it worth every penny!).
Completely Renovated, Top to Bottom
Step inside and fall in love with this modern masterpiece, featuring:
• Gorgeous hardwood flooring throughout entire main level
• Stainless steel appliances
• Stylish sliding barn door
• Beautiful tiled bathroom with glass shower
• All new windows, newer roof and Central Air
Everything you see stays! That’s right—this property comes fully furnished with chic living room, dining, and bedroom sets, plus gaming and recreation equipment (ping pong, foosball, basketball hoop game, air hockey & more!).
Smart Investment, Strong Returns
With Airbnb or long-term leasing, projected income exceeds $30, 000+ per year with only $8, 000/year in total expenses (utilities, internet, garbage—all in!).
That’s serious cash flow from day one.
Unbeatable Location & Lifestyle
Wake up every morning to gorgeous Fountain Lake views from every window, and step outside to a lifestyle that’s pure Minnesota magic:
• Just steps to the lake for walking, biking, or jogging
• A short stroll to Fountain Lake Pavilion for live music and community events
• Walk to Downtown Albert Lea’s revitalized core with endless dining, shopping, fitness, and entertainment options — including the Marion Ross Theatre, local pubs, cafés, the public library, and more!
And despite the location this building is shockingly private and unbelievably QUIET with the acoustic tiles! You don’t hear a thing!
Turn-Key, Move-In Ready
Whether you’re ready to launch your next business, start earning passive income, or live in luxury while your property pays for itself, 115 Newton N Avenue delivers.
Modern. Profitable. Perfectly Located.
Your next great investment—and your best lifestyle—start right here.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$259,900
Price per sq ft:
$74
Property Type:
Multi-family
City:
Albert Lea
Garage Spaces:
0
County:
Freeborn
Year Built:
1920
State:
MN
Property Style:
Apartments
Zip Code:
56007
Interior
Finished Area:
3,496 ft2
Living Area:
3,496 ft2
Refrigerators:
One
Basement Details:
Block
Exterior
Stories:
One
Garage Spaces:
0
Foundation Size:
1,748 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
Paved
Exterior Material:
Brick/Stone
Roof Details:
Flat
Lake & Waterfront
Waterfront Present:
N
Waterfront Name:
Fountain
DNR Lake ID#:
24001800
Lake Chain Name:
N
Lake Acres:
521
Lake Depth:
14
Waterfront:
Lake View
Lot & Land
Acres:
0.04
Geolocation:
43.650309, -93.36758
Lot Dimensions:
1742 sq ft
Schools
School District:
241
District Phone:
507-379-4800
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$1,700
Annual Fuel Expense:
$1,800
Annual Insurance Expense:
$2,892
Annual Maintenance Expense:
None
Annual Gross Expense:
$8,000
Annual Trash Expense:
$300
Annual Water/Sewer Expense:
$720
Tenant Expenses:
None
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$2,128
Lender-owned:
Not disclosed
Assessment Pending:
No
Taxes w/ Assessments:
$2,128
Income
Annual Gross Income:
$30,000
Misc. Annual Income:
None
Misc. Monthly Income:
None
Units
Total Units:
2
Miscellaneous
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer - In Street
Water System:
City Water/Connected
Mortgage Calculator
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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 LandProz Real Estate, LLC.
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.