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150 2nd Avenue SW, Elgin, MN 55932

New Listing

$349,900

Property Type: Multi-Family Bedrooms: 8 Baths: 4 Square Footage: 3,552 Lot Size (sq. ft.): 12,197 Status: Active

Current Price: $349,900 List Date: 6/20/2026 Last Modified: 6/20/2026

Overview

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!

Listing Details MLS# 7093939

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: Yes
Waterfront YN: No
Year Built: 1979
Yearly/Seasonal: Yearly
Main Floor Total SqFt: 1776
Above Ground SqFt: 1776
Below Grd Total SqFt: 1776
Total SqFt: 3552
Foundation Size: 1776
Style: (MF) Four Plex
Total Finished Sqft: 3552.00
Lot Dimensions: 82x150
Acres: 0.28
Assessment Pending: No
Garage Stalls: 0

Property Features

Accessible: None Amenities Shared: Coin-op Laundry Owned; Deck Basement: Concrete Block Construction Status: Previously Owned Exterior: Vinyl Foundation: Concrete Block Fuel: Natural Gas Heating: Baseboard; Boiler Laundry: Laundry Room Lot Description: Tree Coverage - Light Owner Pays: Common Area Maintenance; Exterior Maintenance; Fuel; Grounds Care; Heat; HVAC Maintenance; Insurance; Lawn; Maintenance/Repair; Repairs; Roof Maintenance; Sewer; Snow Removal; Water Parking Characteristics: Parking Lot; Gravel Lot Roof: Age 8 Years or Less Sewer: City Sewer/Connected Tenant Pays: Broadband; Cable TV; Electricity; Telephone Unit 1 Appliances: Microwave; Range; Refrigerator Unit 1 Bath Description: Main Floor Full Bath Unit 2 Amenities: Kitchen Window Unit 2 Appliances: Range; Refrigerator Unit 2 Cooling: Wall Unit 3 Amenities: Kitchen Window Unit 3 Appliances: Range; Refrigerator Unit 3 Cooling: Wall Unit 4 Appliances: Range; Refrigerator Unit 4 Cooling: Wall Water: City Water/Connected

Contract Information

Contingency: None
Original List Price: 349900
ListPrice: 349900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 150
Street Name: 2nd
Street Suffix: Avenue
Street Direction Suffix: SW
Postal City: Elgin
County: Wabasha
State: MN
Zip Code: 55932
Complex/Dev/Subdivision: Millers Add

Assessments

Tax With Assessments: 5186
Assessment Balance: 0

Basement

Foundation Dimensions: common
Concrete Block: Yes

More Information

Building Information

Finished SqFt Above Ground: 1776
Finished SqFt Below Ground: 1776

Income and Expenses

Annual Fuel Expense: 1644
Annual Trash Expense: 1396.08
Annual Water/Sewer Expense: 1354
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Gross Expenses: 0
Annual Gross Income: 0
Annual Insurance Expense: 0
Annual Maintenance Expense: 0
Annual Repair Expense: 0
Total Annual Expenses: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 12
Section#: 27
Township#: 108

Unit 1

Furnished?: No
Leased?: Yes
Level: 2nd Level
Unit Number: Yes
Finished SqFt: 888
Full Baths: Yes
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 4

Unit 2

Furnished?: No
Leased?: Yes
Level: 2nd Level
Unit Number: 2
Annual Rent: 8100
Finished SqFt: 888
Full Baths: Yes
Monthly Expense: 100
Monthly Rent: 675
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 4

Unit 3

Furnished?: No
Leased?: Yes
Unit Number: 3
Annual Rent: 9600
Finished SqFt: 888
Full Baths: Yes
Monthly Expense: 100
Monthly Rent: 800
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 4

Unit 4

Furnished?: No
Leased?: Yes
Unit Number: 4
Annual Rent: 5700
Finished SqFt: 888
Full Baths: Yes
Monthly Expense: 100
Monthly Rent: 475
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 4

Unit Details

Total Units: 4

Office/Member Info

Association: SEMR

Location, Tax and Other Information

Legal Description: SECT-27 TWP-108 RANGE-012 MILLER'S ADDITION LOT-001 BLOCK-002 (WWW)
Listing City: Elgin
Map Page: 999
Municipality: Elgin
School District: Plainview-Elgin-Millville
School District Phone: 507-534-3651
Zip Plus 4: 226
Property ID Number: R190025300
Tax Year: 2026
Tax Amount: 5186
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: 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!
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.

Accessible

None: Yes

Amenities Shared

Coin-op Laundry Owned: Yes
Deck: Yes

Construction Status

Previously Owned: Yes

Exterior

Vinyl: Yes

Foundation

Concrete Block: Yes

Fuel

Natural Gas: Yes

Heating

Baseboard: Yes
Boiler: Yes

Laundry

Laundry Room: Yes

Lot Description

Tree Coverage - Light: Yes

Owner Pays

Common Area Maintenance: Yes
Exterior Maintenance: Yes
Fuel: Yes
Grounds Care: Yes
Heat: Yes
HVAC Maintenance: Yes
Insurance: Yes
Lawn: Yes
Maintenance/Repair: Yes
Repairs: Yes
Roof Maintenance: Yes
Sewer: Yes
Snow Removal: Yes
Water: Yes

Parking Characteristics

Parking Lot: Yes
Gravel Lot: Yes

Roof

Age 8 Years or Less: Yes

Sewer

City Sewer/Connected: Yes

Water

City Water/Connected: Yes

Tenant Pays

Broadband: Yes
Cable TV: Yes
Electricity: Yes
Telephone: Yes

Unit 1 Appliances

Microwave: Yes
Range: Yes
Refrigerator: Yes

Unit 1 Bath Description

Main Floor Full Bath: Yes

Unit 2 Amenities

Kitchen Window: Yes

Unit 2 Appliances

Range: Yes
Refrigerator: Yes

Unit 2 Cooling

Wall: Yes

Unit 3 Amenities

Kitchen Window: Yes

Unit 3 Appliances

Range: Yes
Refrigerator: Yes

Unit 3 Cooling

Wall: Yes

Unit 4 Appliances

Range: Yes
Refrigerator: Yes

Unit 4 Cooling

Wall: Yes

Listing Office: RE/MAX Advantage Plus

Last Updated: June - 20 - 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. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.