415 7th Ave E Alexandria, MN 56308

Live in one unit while the other two help cover your payment! This one-of-a-kind Italianate Victorian multifamily offers a rare opportunity for owner-occupants or investors seeking flexibility, character, and income potential. The property is thoughtfully laid out with 3 distinct living options. The shared living unit features 8 private bedrooms with shared kitchen, living, laundry, and bath areas-ideal for owner-occupancy, group housing, or a short-term rental model. In addition, two separate income-producing units include a private 3 bedroom apartment with sunroom and a main-level 1 bedroom unit with kitchen and full bath. Rent from the additional units can significantly offset-or potentially cover-your monthly housing costs. Rich in historic charm, the home showcases ornate Victorian details, hardwood floors, tall ceilings, and classic clawfoot tubs, blending timeless character with modern multi-use functionality. Exterior features include a spacious yard with patio areas, a 3 car detached garage, plus an attached 1 stall garage, providing ample parking and storage. Whether you're looking to live affordably while building equity, expand your investment portfolio, or operate a unique housing model, this exceptional property offers versatility and income potential rarely found on the market.