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311 Prairie St

$315,000

311 Prairie St, Lake City, MN 55041

Active
Last Updated: 04/29/2025

2,710 sqft

Building Size

0.21 acres

Lot Area

Details:
Building Size:    2,710 sqft
Lot Area:    0.21 acres
Units:    2
Year Built:    1910
Zoning:    Residential-Multi-Family
Roof:    Age 8 Years or Less
GrossIncome:    $32,212
Highlights:
  • Parking Features: Driveway - Gravel
  • Lot Size Dimension: 60x150
Description:

Welcome to this beautifully maintained and income-producing duplex in a convenient and charming location! With over 2,000 finished square feet on a spacious 9,000 sq ft lot, this versatile property offers flexible living and investment potential. Each unit is updated and move-in ready, with separate electric meters, shared gas and water/sewer service, and thoughtful upgrades throughout.

The main level (Snowdrop Apartment) features 3 bedrooms, 1 full bath, in-unit laundry, and beautifully refinished hardwood floors. The upper level (Marigold Apartment) includes 2 bedrooms, 1 ¾ baths, new carpet, fresh paint, updated light fixtures, and more. Both units are fully furnished and currently used as successful short-term rentals, generating over $33,500 in gross revenue in the past year.

Additional features include a new roof (2024), updated landscaping, closed off interior stairwell for privacy, and a cozy backyard firepit area—perfect for outdoor relaxation. Driveway has minor cosmetic needs, and three upper windows are due for replacement.

This home can be sold furnished and rental-ready, or unfurnished for owner occupancy or long-term tenants. Rental books and furnishings can be transferred or cleared prior to closing, depending on buyer preference.

Tree Coverage - Medium

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