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Rochester, MN 55902

New Listing

$649,900

Property Type: Commercial Bedrooms: 8 Baths: 4 Square Footage: 3,344 Lot Size (sq. ft.): 8,276 Status: Active

Current Price: $649,900 List Date: 7/01/2026 Last Modified: 7/01/2026

Overview

Description

Completely remodeled from top to bottom, this turnkey 4-plex is an outstanding investment opportunity in the heart of Rochester! Whether you're a seasoned investor looking to expand your portfolio or a first-time buyer searching for a low-maintenance income property, this one checks all the boxes. Every major component has been updated with quality and longevity in mind, including new plumbing, electrical, boiler system, water heater, kitchens, bathrooms, and much more. All renovations were completed with the proper permits and have received occupancy approval from the City, giving buyers added confidence and peace of mind. The property features four fully occupied 2-bedroom, 1-bath units, each thoughtfully designed with its own in-unit laundry. Every apartment is served by efficient boiler heat while also offering the comfort and flexibility of an individual mini-split system with both air conditioning and heat pump functionality. Electric is individually metered, making utility man ... (Read more)

Listing Details MLS# 7101999

General Property Information

Lot Measurement: Acres
Management Company Name: Harbor Realty & Management Group
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1962
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 1672
For Sale or Lease: For Sale
Acres: 0.19
Lot Dimensions: 110x77
Assessment Pending: No
Other Parking Spaces: 0
Garage Stalls: 0

Property Features

Accessible: None Air Conditioning: Ductless Amenities Unit: Ceiling Fan(s); Kitchen Window Appliances: Dishwasher; Dryer; Microwave; Range; Refrigerator; Washer CMU Style: Apartments/Multi Family Construction Status: Previously Owned Current Use: Residential Exterior: Metal Flooring: Luxury Vinyl Plank Foundation: Concrete Block Fuel: Natural Gas Heating: Baseboard; Heat Pump Lot Description: Corner Lot On Site Utilities: Electric Separate Owner Pays: Gas; Lawn; Lawn; Snow Removal Parking Characteristics: Paved Lot Sewer: City Sewer/Connected Stories: One Tenant Pays: Electricity; Water Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 649900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

Postal City: Rochester
County: Olmsted
State: MN
Zip Code: 55902
Complex/Dev/Subdivision: Graham Add - Torrens

Assessments

Tax With Assessments: 6636
Assessment Balance: 0

Basement

Foundation Dimensions: 28x60

More Information

Building Information

Building Finished SqFt: 3272
Building SqFt: 3344
Ceiling Height: Less Than 8 Feet

Income and Expenses

Annual Fuel Expense: 1800
Annual Gross Expenses: 8400
Annual Gross Income: 65400
Annual Insurance Expense: 2400
Annual Maintenance Expense: 1800
Annual Net Income: 57000
Annual Repair Expense: 1800
Annual Trash Expense: 600
Total Annual Expenses: 8400
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Water/Sewer Expense: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 14
Section#: 11
Township#: 106

Sale Options

Sale Includes: Building, Land, Rental License

Unit 1

Unit Number: 4
Monthly Rent: 1300
Full Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: 2
Total Rooms: 4
Level: Below Ground
Unit Total SqFt: 800
Leased?: Yes
Lease Expiration Date: 2026-10-31

Unit 2

No. of 2 Bedroom Units: 4
Full Baths: Yes
Lease Expiration Date: 2027-03-31
Leased?: Yes
Level: Below Ground
Monthly Rent: 1300
Total Bathrooms: Yes
Total Bedrooms: 2
Total Rooms: 4
Unit Number: 3
Unit Total SqFt: 800

Unit 3

Full Baths: Yes
Lease Expiration Date: 2027-03-31
Leased?: Yes
Level: Main Level
Monthly Rent: 1400
Total Bathrooms: Yes
Total Bedrooms: 2
Total Rooms: 4
Unit Number: 2
Unit Total SqFt: 836

Unit 4

Full Baths: Yes
Lease Expiration Date: 2027-02-28
Leased?: Yes
Level: Main Level
Monthly Rent: 1450
Total Bathrooms: Yes
Total Bedrooms: 2
Total Rooms: 4
Unit Number: Yes
Unit Total SqFt: 836

Unit Details

Total Units: 4

Office/Member Info

Association: SEMR

Location, Tax and Other Information

Legal Description: SECT-11 TWP-106 RANGE-014 GRAHAM ADDITION - TORRENS LOT-016 BLOCK-004 LOT 16 BLK 4
Listing City: Rochester
Map Page: 999
Municipality: Rochester
School District: Rochester
School District Phone: 507-328-3000
Zip Plus 4: 4311
Property ID Number: 641112008687
Tax Year: 2025
Tax Amount: 6636
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Completely remodeled from top to bottom, this turnkey 4-plex is an outstanding investment opportunity in the heart of Rochester! Whether you're a seasoned investor looking to expand your portfolio or a first-time buyer searching for a low-maintenance income property, this one checks all the boxes. Every major component has been updated with quality and longevity in mind, including new plumbing, electrical, boiler system, water heater, kitchens, bathrooms, and much more. All renovations were completed with the proper permits and have received occupancy approval from the City, giving buyers added confidence and peace of mind. The property features four fully occupied 2-bedroom, 1-bath units, each thoughtfully designed with its own in-unit laundry. Every apartment is served by efficient boiler heat while also offering the comfort and flexibility of an individual mini-split system with both air conditioning and heat pump functionality. Electric is individually metered, making utility management simple and efficient. Located just minutes from everything Rochester has to offer—including world-class healthcare, dining, shopping, entertainment, parks, and major employers—this property combines a prime location with extensive improvements and reliable rental income. Opportunities to purchase a fully renovated, fully occupied multifamily property of this caliber are few and far between. Schedule your showing today and see why this investment stands out from the rest!
Directions: Take the 2nd St SW exit from Highway 52 North, turn right, continue west, turn left onto 3rd Ave SW, then turn right onto 14th St SW, and 317 14th St SW will be on your left.

Accessible

None: Yes

Air Conditioning

Ductless: Yes

Amenities Unit

Ceiling Fan(s): Yes
Kitchen Window: Yes

Appliances

Dishwasher: Yes
Dryer: Yes
Microwave: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Construction Status

Previously Owned: Yes

Exterior

Metal: Yes

Flooring

Luxury Vinyl Plank: Yes

Foundation

Concrete Block: Yes

Fuel

Natural Gas: Yes

Heating

Baseboard: Yes
Heat Pump: Yes

Lot Description

Corner Lot: Yes

Owner Pays

Gas: Yes
Lawn: Yes
Snow Removal: Yes

Parking Characteristics

Garage Dimensions: No
Paved Lot: Yes

Sewer

City Sewer/Connected: Yes

Stories

One: Yes

Water

City Water/Connected: Yes

No. of Ranges

Four: Yes

No. of Refrigerators

Four: Yes

Tenant Pays

Electricity: Yes
Water: Yes

On Site Utilities

Electric Separate: Yes

CMU Style

Apartments/Multi Family: Yes

Current Use

Residential: Yes

Listing Office: Harbor Realty & Management Gro

Last Updated: July - 01 - 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.