501 W 3rd Street, Monticello, MN 55362
- $425,000
- 5
- BD
- 3
- BA
- 2,977
- SqFt
- Sold Price
- $425,000
- List Price
- $417,000
- Closing Date
- Jul 22, 2026
- MLS#
- 7083432
- Status
- CLOSED
- Type
- Multifamily
- Style
- (MF) Triplex
- Bedrooms
- 5
- Bathrooms
- 3
- Living Area
- 2,977
- Acres
- 0.50
- Subdivision
- Lower Monticello
- Year Built
- 1956
Property Description
Excellent turnkey triplex investment opportunity in Monticello! This fully occupied property features two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit with established tenants and lease agreements in place, offering immediate cash flow and stable rental income. Numerous updates have been completed throughout the property, including remodeled kitchens, bathrooms, flooring, fixtures, and finishes that contribute to strong tenant appeal and pride of ownership. Major improvements include a new roof (2025), new water heater (2025), and new furnace (2021), helping minimize future capital expenses. Separate electric meters serve each unit, and the property is situated on a spacious half-acre lot, offering exceptional outdoor space and flexibility rarely found with multifamily properties. Conveniently located near downtown Monticello, parks, schools, shopping, dining, and major commuter routes, this well-maintained property offers immediate cash flow, a strong rental history, and long-term investment potential. Income and expense information available upon request.
Additional Information
- School District
- Monticello
- Amenities Shared
- Laundry, Coin-op Laundry Owned
- Tax Year
- 2026
- Fuel
- Electric, Natural Gas
- Lot Description
- Corner Lot
- Sewer
- City Sewer/Connected
- Roof
- Age 8 Years or Less, Asphalt
- Heating
- Baseboard, Forced Air
- Water
- City Water/Connected
- Basement
- Block
- Garage Spaces
- 2
Mortgage Calculator
Listing courtesy of RE/MAX Advantage Plus.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota. Real estate listings held by brokerage firms other this firm are marked with the Broker Reciprocity logo. Information Deemed Reliable But Not Guaranteed. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.
Listing data © 2026 Regional Multiple Listing Service of Minnesota. All rights reserved. By searching, you agree to the EULA.