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$417,000 Just Listed

  • For Sale
  • Active
  • Triplex
  • 5 Beds
  • 3 Total Baths
  • 2,977 Sq. Ft.
  • 2 Car Garage
  • Updated 2 days ago
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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.

Full Property Details for 501 W 3rd St

General

  • Price: $417,000
  • Taxes: $4,906 (2026)
  • Status: Active
  • Type: Triplex
  • Source: NorthStarMLS_RMLS
  • MLS ID: 7083432
  • Updated: 6/8/2026
  • Added to Site: 2 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 3

Bedrooms

  • Total Bedrooms: 5

Other Rooms

  • Laundry: Common Area, Main Level, Common Area, Main Level

Additional Information

  • Shared Amenities: Laundry, Coin-op Laundry Owned

Exterior

  • Porch/Patio/Deck: Front Porch, Patio

Parking

  • Garage: Yes
  • Garage Description: 35 x 21
  • Garage Spaces: 2

Location

  • County: Wright
  • Township: Monticello
  • Subdivision: Lower Monticello
  • Driving Directions: Hwy 25 to W 3rd St, west to property on left.

School Information

  • School District: 882 - Monticello
  • High School District: Monticello

Heating & Cooling

  • Heating Type: Baseboard, Forced Air
  • Heating Fuel: Electric, Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)

Structural Information

  • Basement: Yes
  • Basement Desc.: Block
  • Foundation Size: 1079
  • Roof: Age 8 Years or Less, Asphalt
  • Disability Access: None
  • Square Feet: 2,977
  • Above Ground: 1,898 Sq. Ft.
  • Below Ground: 1,079 Sq. Ft.
  • Finished Down/Base.: 2,977 Sq. Ft.
  • Year Built: 1956

Unit Information

  • Units w/Refrigerators: 3

Lot Features

  • Lot Size (Acres): 0.501
  • Lot Dimensions: 132 x 165 x 132 x 165
  • Frontage: City Street
  • Zoning: Residential-Multi-Family
  • Lot Description: Corner Lot

Financial Considerations

  • Operating Expenses: $32,542
  • Tax Amount: $4,906
  • Tax Year: 2026
  • Terms: Conventional, Cash
  • Owner Pays: Broadband, Electricity, Grounds Care, Insurance, Repairs, Management, Sewer, Taxes, Trash Collection, Water
  • Tenant Pays: Electricity
  • Pays Electric: Tenant Pays
  • Pays Trash: Owner Pays
  • Pays Water: Owner Pays

Disclosures and Reports

  • Legal Description: SECT-11 TWP-121 RANGE-025 LOWER MONTICELLO LOT-004 BLOCK-013 LT4 EX TR DES IN BK171-31 <5 BLK13
  • Property ID: 155015013040

Listed by RE/MAX Advantage Plus

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Schools serving 501 W 3rd St

School District:Monticello Public School District
NameGradesDistance
Pinewood Elementary School, Monticello, MN
1010 West Broadway Street, Monticello, MN 55362
1-50.4 mi
Eastview Education Center
9375 Fenning Avenue, Monticello, MN 55362
PK-K2 mi
Monticello Middle School
800 Broadway Street East, Monticello, MN 55362
6-81 mi
Monticello Senior High School
5225 School Boulevard, Monticello, MN 55362
9-121.8 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 501 W 3rd St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
6/08/2026
Listed
$417,000
43.79%
MLS
5/10/2021
Sold
$290,000
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 501 W 3rd St

Year
Property Taxes
Change
Tax Assessment
Change
2026
$4,906
23%
$371,200
9%
2023
$3,984
—
$340,700
3%
2023
$3,984
15%
$332,100
6%
2022
$3,478
8%
$312,300
25%
2021
$3,220
32%
$250,100
20%
2020
$2,446
10%
$207,800
13%
2019
$2,214
15%
$183,200
7%
2018
$1,924
8%
$171,800
10%
2017
$1,784
11%
$156,300
13%
2016
$1,614
3%
$138,000
5%
2015
$1,568
-7%
$132,000
9%
2014
$1,692
-10%
$121,400
4%
2013
$1,886
—
$116,900
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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501 W 3rd Street, Monticello, MN 55362 (MLS# 7083432) is a Triplex property with 5 bedrooms and 0 full bathrooms. 501 W 3rd Street is currently listed for $417,000 and was received on June 08, 2026. Want to learn more about 501 W 3rd Street? Do you have questions about finding other Triplex real estate for sale in Monticello? You can browse all Monticello real estate or contact a Coldwell Banker agent to request more information.

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