204 Lake Ave E

Highlights:

• Parking Features: Driveway - Gravel
• Lot Size Dimension: 175x140

Description:

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.