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204 Lake Avenue E, 
Hill City, MN 55748

$344,900


8

Beds


5

Baths


6,144

Sq Ft


Multi-Family

Active

Listed by

David Liedl

Woods To Water Real Estate

218-961-1005

Last updated:

May 15, 2026, 03:12 PM

MLS#

6786681

Source:

ND FMAAR

About This Home

204 Lake Avenue E

Seize this rare opportunity to own a fully occupied 4-plex in Hill City, MN, delivering $33,133 in current annual gross rental income with immediate upside potential. Priced at $365,000, this turnkey property offers a blend of stability, recent updates, and future income growth for savvy investors. Each spacious unit features 2 bedrooms and 1 bath (one unit includes 2 baths), averaging 1,000 sq ft per unit. With long-term tenants in place and one unit currently renting at $600 while others achieve up to $900, there is built-in opportunity for rent increases to boost returns. Key updates provide peace of mind for investors: All units feature new water heaters New water softener serving all units Fresh paint, carpet, and flooring in Units 1 & 3 Updated electrical in Units 1 & 3 Every unit equipped with a washer & dryer hook up Tenants pay their own electric, cable, and internet, while the landlord covers city water/sewer, lawn care, snow removal, garbage, exterior maintenance, and insurance — keeping property management simple and predictable. The property sits in a prime Hill City location just 2 blocks from Hwy 169, one block from Hill Lake, and ½ mile from Hill City High School, ensuring consistent tenant demand and long-term value growth. Whether you're looking to add stable cash flow to your portfolio or seeking a turnkey property with built-in rent growth, this 4-plex checks all the boxes.

Home Facts

Multi-Family

5 Baths

8 Bedrooms

Built in 1985

Price Summary

344,900

$56 per Sq. Ft.

MLS #:

6786681

Last Updated:

May 15, 2026, 03:12 PM

Added:

8 month(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

8

Bathrooms

Total Bathrooms:

5

Interior

Living Area:

6,144 Sq. Ft.


Structure

Structure

Building Area:

6,144 Sq. Ft.

Year Built:

1985


Lot

Lot Size (Sq. Ft):

24,393


Finances & Disclosures

Finances

Price:

$344,900

Price per Sq. Ft:

$56 per Sq. Ft.

Source:ND FMAAR
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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.