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MLS# 7083432 - 501 W 3rd Street Monticello, MN 55362
RE/MAX Advantage Plus is the brokerage office representing the seller for this listing.
Copyright 2019, Regional Multiple Listing Service of Minnesota, Inc. all rights reserved. Information is deemed reliable but is not guaranteed.
The data relating to real estate for sale on this site comes in part from the broker reciprocity program of the Regional multiple Listing Service of Minnesota, Inc. real estate listings held by brokerage firms other than are marked with the Broker Reciprocity logo or the Broker reciprocity house icon and detailed information about them includes the names(s) of the listing brokers. Joy+Marci Realty Group is not a multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Joy+Marci Realty Group, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.
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This fully occupied property features two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit with established tenants and lease agreements in place, offering immediate cash flow and stable rental income. Numerous updates have been completed throughout the property, including remodeled kitchens, bathrooms, flooring, fixtures, and finishes that contribute to strong tenant appeal and pride of ownership. Major improvements include a new roof (2025), new water heater (2025), and new furnace (2021), helping minimize future capital expenses. Separate electric meters serve each unit, and the property is situated on a spacious half-acre lot, offering exceptional outdoor space and flexibility rarely found with multifamily properties. Conveniently located near downtown Monticello, parks, schools, shopping, dining, and major commuter routes, this well-maintained property offers immediate cash flow, a strong rental history, and long-term investment potential. Income and expense information available upon request.","ROADBETWEENWATERFRONTANDHOMEYN":false,"ROOF":"Age 8 Years or Less,Asphalt","SCHOOLDISTRICTNUMBER":"882-Monticello","SCHOOLDISTRICTPHONE":"7632722000","SEWER":"City Sewer/Connected","STATEORPROVINCE":"MN","STATUS":"Pending","STATUSDATE":"2026-06-19T19:08:06.56","LASTSTATUS":"Active","STREETDIRPREFIX":"W","STREETNAME":"3rd","STREETNUMBER":"501","STREETSUFFIX":"Street","STYLE":"Triplex","TRANSACTIONTYPE":"For Sale","WATER":"City Water/Connected","WATERFRONTPRESENT":false,"YEARBUILT":1956,"ZONING":"Residential-Multi-Family","HASOPENHOUSE":false,"PHOTOTIMESTAMP":"2026-06-04T14:48:08.808","PHOTOREMARKS":"[{\"Order\":1,\"Remarks\":\"Investment Property in Monticello! 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(UNIT 3 LL)\"},{\"Order\":6,\"Remarks\":\"Spacious lower-level family room offering plenty of room for relaxing or entertaining. (UNIT 3 LL)\"},{\"Order\":7,\"Remarks\":\"The thoughtfully designed lower-level unit offers abundant living space, charming architectural details, and easy access to the kitchen, bedrooms, and bath. (UNIT 3 LL)\"},{\"Order\":8,\"Remarks\":\"The open layout offers flexibility to suit a variety of needs and uses. (UNIT 3 LL)\"},{\"Order\":9,\"Remarks\":\"Conveniently located just off the entry, this functional area features built-in cabinetry and additional countertop areas that provide convenient storage, workspace, or serving space. (UNIT 3 LL)\"},{\"Order\":10,\"Remarks\":\"Back Entry/Mudroom Area: Rear entrance to the lower-level unit featuring a large tiled entry area, built-in cabinetry, and coat hooks for added storage and organization. (UNIT 3 LL)\"},{\"Order\":11,\"Remarks\":\"Full bath featuring a large vanity, abundant storage, and attractive modern finishes throughout. (UNIT 3 LL)\"},{\"Order\":12,\"Remarks\":\"Comfortable lower level bedroom located off the kitchen area, featuring a walk-in closet and window for natural light. A functional and private retreat offering ample storage and everyday convenience. (UNIT 3 LL)\"},{\"Order\":13,\"Remarks\":\"2nd lower level bedroom located off the living area, featuring a walk-in closet and easy access to the unit's main living spaces. (UNIT 3 LL)\"},{\"Order\":14,\"Remarks\":\"Main Floor Kitchen: Bright and functional kitchen featuring abundant cabinetry, generous countertop space, and a convenient peninsula for additional seating, serving, or meal preparation. (UNIT 1 MF)\"},{\"Order\":15,\"Remarks\":\"Located directly off the kitchen and adjacent to the living room, this bright dining space features a large bay window that fills the room with natural light. (UNIT 1 MF)\"},{\"Order\":16,\"Remarks\":\"Living area featuring a striking fireplace surround that serves as a warm focal point, with plenty of room for relaxing and gathering. (UNIT 1 MF)\"},{\"Order\":17,\"Remarks\":\"Spacious living room adjacent to the dining area and offering convenient access to two bedrooms and a full bathroom. A separate entrance provides added flexibility and privacy for occupants. (UNIT 1 MF)\"},{\"Order\":18,\"Remarks\":\"Main floor primary bedroom featuring neutral finishes and abundant natural light from windows, creating a bright and comfortable retreat. (UNIT 1 MF)\"},{\"Order\":19,\"Remarks\":\"Flexible room with durable wood-look flooring, ample natural light, and a closet, making it ideal as a second bedroom, home office, or hobby space. (UNIT 1 MF)\"},{\"Order\":20,\"Remarks\":\"Updated full bathroom featuring a large vanity, tub/shower surround, and durable flooring with a clean, modern feel. (UNIT 1 MF)\"},{\"Order\":21,\"Remarks\":\"Bright, open-concept living space featuring an updated kitchen with abundant cabinetry, generous counter space, and a seamless flow into the living area. (UNIT 2 UL)\"},{\"Order\":22,\"Remarks\":\"Comfortable living area and unique architectural details that create an open feel with plenty of character. (UNIT 2 UL)\"},{\"Order\":23,\"Remarks\":\"Functional kitchen designed to maximize efficiency, featuring extensive cabinetry and an appealing layout. (UNIT 2 UL)\"},{\"Order\":24,\"Remarks\":\"Open to the living area, the kitchen has a spacious peninsula with seating, making it easy to cook, dine, and entertain. (UNIT 2 UL)\"},{\"Order\":25,\"Remarks\":\"Inviting upper-level bedroom with direct access to a private 3/4 bathroom for added comfort and convenience. (UNIT 2 UL)\"},{\"Order\":26,\"Remarks\":\"Thoughtfully updated bathroom with contemporary fixtures, decorative tilework, and a sleek vanity. (UNIT 2 UL)\"},{\"Order\":27,\"Remarks\":\"Clean lines and updated finishes create an attractive, low-maintenance bathroom space. (UNIT 2 UL)\"},{\"Order\":28,\"Remarks\":\"Stylish glass shower enclosure and smart use of space create a bright, contemporary feel. (UNIT 2 UL)\"},{\"Order\":29,\"Remarks\":\"Outdoor living is enhanced by a generous yard, mature trees, and convenient access to the home's separate living spaces.\"},{\"Order\":30,\"Remarks\":\"Generous half-acre lot offers exceptional outdoor space while keeping schools, parks, and community conveniences nearby.\"},{\"Order\":31,\"Remarks\":\"Storage shed with extra flooring, shelving, tile materials, existing composting area, and the firewood/logs stacked by the shed will all remain with the property.\"},{\"Order\":32,\"Remarks\":\"Aerial view highlights the property's expansive half-acre lot, mature tree canopy, and convenient in-town location.\"}]","PHOTOORDER":"1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32","MLSBUYERAGENTID":"NST506021459","MLSCOBUYERAGENTID":"NST506097729","SOURCE":"MG_NST"}
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This fully occupied property features two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit with established tenants and lease agreements in place, offering immediate cash flow and stable rental income. Numerous updates have been completed throughout the property, including remodeled kitchens, bathrooms, flooring, fixtures, and finishes that contribute to strong tenant appeal and pride of ownership. Major improvements include a new roof (2025), new water heater (2025), and new furnace (2021), helping minimize future capital expenses. Separate electric meters serve each unit, and the property is situated on a spacious half-acre lot, offering exceptional outdoor space and flexibility rarely found with multifamily properties. Conveniently located near downtown Monticello, parks, schools, shopping, dining, and major commuter routes, this well-maintained property offers immediate cash flow, a strong rental history, and long-term investment potential. 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(UNIT 3 LL)\"},{\"Order\":6,\"Remarks\":\"Spacious lower-level family room offering plenty of room for relaxing or entertaining. (UNIT 3 LL)\"},{\"Order\":7,\"Remarks\":\"The thoughtfully designed lower-level unit offers abundant living space, charming architectural details, and easy access to the kitchen, bedrooms, and bath. (UNIT 3 LL)\"},{\"Order\":8,\"Remarks\":\"The open layout offers flexibility to suit a variety of needs and uses. (UNIT 3 LL)\"},{\"Order\":9,\"Remarks\":\"Conveniently located just off the entry, this functional area features built-in cabinetry and additional countertop areas that provide convenient storage, workspace, or serving space. (UNIT 3 LL)\"},{\"Order\":10,\"Remarks\":\"Back Entry/Mudroom Area: Rear entrance to the lower-level unit featuring a large tiled entry area, built-in cabinetry, and coat hooks for added storage and organization. (UNIT 3 LL)\"},{\"Order\":11,\"Remarks\":\"Full bath featuring a large vanity, abundant storage, and attractive modern finishes throughout. (UNIT 3 LL)\"},{\"Order\":12,\"Remarks\":\"Comfortable lower level bedroom located off the kitchen area, featuring a walk-in closet and window for natural light. A functional and private retreat offering ample storage and everyday convenience. (UNIT 3 LL)\"},{\"Order\":13,\"Remarks\":\"2nd lower level bedroom located off the living area, featuring a walk-in closet and easy access to the unit's main living spaces. (UNIT 3 LL)\"},{\"Order\":14,\"Remarks\":\"Main Floor Kitchen: Bright and functional kitchen featuring abundant cabinetry, generous countertop space, and a convenient peninsula for additional seating, serving, or meal preparation. (UNIT 1 MF)\"},{\"Order\":15,\"Remarks\":\"Located directly off the kitchen and adjacent to the living room, this bright dining space features a large bay window that fills the room with natural light. (UNIT 1 MF)\"},{\"Order\":16,\"Remarks\":\"Living area featuring a striking fireplace surround that serves as a warm focal point, with plenty of room for relaxing and gathering. (UNIT 1 MF)\"},{\"Order\":17,\"Remarks\":\"Spacious living room adjacent to the dining area and offering convenient access to two bedrooms and a full bathroom. A separate entrance provides added flexibility and privacy for occupants. (UNIT 1 MF)\"},{\"Order\":18,\"Remarks\":\"Main floor primary bedroom featuring neutral finishes and abundant natural light from windows, creating a bright and comfortable retreat. (UNIT 1 MF)\"},{\"Order\":19,\"Remarks\":\"Flexible room with durable wood-look flooring, ample natural light, and a closet, making it ideal as a second bedroom, home office, or hobby space. (UNIT 1 MF)\"},{\"Order\":20,\"Remarks\":\"Updated full bathroom featuring a large vanity, tub/shower surround, and durable flooring with a clean, modern feel. (UNIT 1 MF)\"},{\"Order\":21,\"Remarks\":\"Bright, open-concept living space featuring an updated kitchen with abundant cabinetry, generous counter space, and a seamless flow into the living area. (UNIT 2 UL)\"},{\"Order\":22,\"Remarks\":\"Comfortable living area and unique architectural details that create an open feel with plenty of character. (UNIT 2 UL)\"},{\"Order\":23,\"Remarks\":\"Functional kitchen designed to maximize efficiency, featuring extensive cabinetry and an appealing layout. (UNIT 2 UL)\"},{\"Order\":24,\"Remarks\":\"Open to the living area, the kitchen has a spacious peninsula with seating, making it easy to cook, dine, and entertain. (UNIT 2 UL)\"},{\"Order\":25,\"Remarks\":\"Inviting upper-level bedroom with direct access to a private 3/4 bathroom for added comfort and convenience. (UNIT 2 UL)\"},{\"Order\":26,\"Remarks\":\"Thoughtfully updated bathroom with contemporary fixtures, decorative tilework, and a sleek vanity. (UNIT 2 UL)\"},{\"Order\":27,\"Remarks\":\"Clean lines and updated finishes create an attractive, low-maintenance bathroom space. (UNIT 2 UL)\"},{\"Order\":28,\"Remarks\":\"Stylish glass shower enclosure and smart use of space create a bright, contemporary feel. (UNIT 2 UL)\"},{\"Order\":29,\"Remarks\":\"Outdoor living is enhanced by a generous yard, mature trees, and convenient access to the home's separate living spaces.\"},{\"Order\":30,\"Remarks\":\"Generous half-acre lot offers exceptional outdoor space while keeping schools, parks, and community conveniences nearby.\"},{\"Order\":31,\"Remarks\":\"Storage shed with extra flooring, shelving, tile materials, existing composting area, and the firewood/logs stacked by the shed will all remain with the property.\"},{\"Order\":32,\"Remarks\":\"Aerial view highlights the property's expansive half-acre lot, mature tree canopy, and convenient in-town location.\"}]","PhotoOrder":"1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32","CustomVTourURL":"","BuyerCompensation":"","SellerCompensation":""}