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204 Lake Avenue E, 
Hill City, MN 55748

$365,000


Bed


Bath


4,096

Sq Ft


Multi-Family

Active

Listed by

David Liedl

Woods To Water Real Estate

218-961-1005

Last updated:

September 20, 2025, 12:54 PM

MLS#

6786681

Source:

NSMLS

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

Built in 1985

Price Summary

365,000

$89 per Sq. Ft.

MLS #:

6786681

Last Updated:

September 20, 2025, 12:54 PM

Added:

12 day(s) ago


Rooms & Interior

Interior

Living Area:

4,096 Sq. Ft.


Structure

Structure

Building Area:

6,144 Sq. Ft.

Year Built:

1985


Lot

Lot Size (Sq. Ft):

24,393


Finances & Disclosures

Finances

Price:

$365,000

Price per Sq. Ft:

$89 per Sq. Ft.

Source:NSMLS
Data is deemed reliable but is not guaranteed accurate by the MLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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