605 Main Street, Tower, MN 55790
- $329,900
- 8
- BD
- 4
- BA
- 4,464
- SqFt
- List Price
- $329,900
- MLS#
- 7046763
- Status
- PENDING
- Type
- Multifamily
- Bedrooms
- 8
- Bathrooms
- 4
- Living Area
- 4,464
- Acres
- 0.16
- Subdivision
- Tower
- Year Built
- 1982
Property Description
Exceptional turn-key 4-plex opportunity in the heart of Tower, MN — just one block from beautiful Lake Vermilion. Whether you’re an investor looking for strong cash flow or a first-time home buyer wanting tenants to help pay the mortgage, this property offers endless potential. The building features four spacious 2-bedroom, 1-bath units with separate electric meters, allowing tenants to pay their own electricity. All units are currently rented at $1,000 per month on flexible month-to-month leases, providing immediate rental income with room for future rent increases. Located in one of northern Minnesota’s premier recreation destinations, this property offers quick access to boating, fishing, snowmobile trails, and ATV trails right outside your door. The historic building has seen updates throughout while still maintaining its character and charm. Additional opportunity available with a neighboring commercial lot that may be purchased together or separately. Live in one unit while the other tenants help offset your mortgage, or add a solid income-producing property to your portfolio in a highly desirable lake community.
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Additional Information
- School District
- St. Louis County
- Tax Year
- 2025
- Fuel
- Electric, Other
- Sewer
- City Sewer - In Street
- Heating
- Boiler
- Water
- City Water - In Street
- Basement
- None
- Parking
- Gravel, Off Site, On-Street Parking Only
Mortgage Calculator
Listing courtesy of Anchor Realty.
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