501 W 3rd Street Monticello, MN 55362

$417,000
Active
estimated monthly payment
5 Beds  |  3 Baths  |  2,977 Sq Ft  |  Triplex  |  MLS # 7083432
  • Investment Property in Monticello! This well-maintained triplex offers an excellent opportunity to generate immediate rental income in a convenient location close to shopping, dining, parks, schools, and commuter routes.
    Investment Property in Monticello! This well-maintained triplex offers an excellent opportunity to generate immediate rental income in a convenient location close to shopping, dining, parks, schools, and commuter routes.
  • Spacious shared breezeway providing convenient access to all three units and the attached garage. With both front and backyard entrances, this welcoming common area offers easy access for tenants and guests alike.
    Spacious shared breezeway providing convenient access to all three units and the attached garage. With both front and backyard entrances, this welcoming common area offers easy access for tenants and guests alike.
  • Main floor common laundry room featuring coin-operated washer and dryer, utility sink, ample cabinetry, and countertop workspace.
    Main floor common laundry room featuring coin-operated washer and dryer, utility sink, ample cabinetry, and countertop workspace.
  • Updated lower-level unit featuring an open-concept kitchen and dining area with durable flooring, recessed lighting, and modern finishes throughout. (UNIT 3 LL)
    Updated lower-level unit featuring an open-concept kitchen and dining area with durable flooring, recessed lighting, and modern finishes throughout. (UNIT 3 LL)
  • The stylish kitchen offers ample cabinetry, generous counter space, and a peninsula-style breakfast bar, creating a functional and inviting space for everyday living. (UNIT 3 LL)
    The stylish kitchen offers ample cabinetry, generous counter space, and a peninsula-style breakfast bar, creating a functional and inviting space for everyday living. (UNIT 3 LL)
  • Spacious lower-level family room offering plenty of room for relaxing or entertaining. (UNIT 3 LL)
    Spacious lower-level family room offering plenty of room for relaxing or entertaining. (UNIT 3 LL)
  • 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)
    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)
  • The open layout offers flexibility to suit a variety of needs and uses. (UNIT 3 LL)
    The open layout offers flexibility to suit a variety of needs and uses. (UNIT 3 LL)
  • 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)
    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)
  • 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)
    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)
  • Full bath featuring a large vanity, abundant storage, and attractive modern finishes throughout. (UNIT 3 LL)
    Full bath featuring a large vanity, abundant storage, and attractive modern finishes throughout. (UNIT 3 LL)
  • 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)
    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)
  • 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)
    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)
  • 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)
    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)
  • 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)
    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)
  • 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)
    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)
  • 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)
    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)
  • Main floor primary bedroom featuring neutral finishes and abundant natural light from windows, creating a bright and comfortable retreat. (UNIT 1 MF)
    Main floor primary bedroom featuring neutral finishes and abundant natural light from windows, creating a bright and comfortable retreat. (UNIT 1 MF)
  • 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)
    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)
  • Updated full bathroom featuring a large vanity, tub/shower surround, and durable flooring with a clean, modern feel. (UNIT 1 MF)
    Updated full bathroom featuring a large vanity, tub/shower surround, and durable flooring with a clean, modern feel. (UNIT 1 MF)
  • 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)
    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)
  • Comfortable living area and unique architectural details that create an open feel with plenty of character. (UNIT 2 UL)
    Comfortable living area and unique architectural details that create an open feel with plenty of character. (UNIT 2 UL)
  • Functional kitchen designed to maximize efficiency, featuring extensive cabinetry and an appealing layout. (UNIT 2 UL)
    Functional kitchen designed to maximize efficiency, featuring extensive cabinetry and an appealing layout. (UNIT 2 UL)
  • Open to the living area, the kitchen has a spacious peninsula with seating, making it easy to cook, dine, and entertain. (UNIT 2 UL)
    Open to the living area, the kitchen has a spacious peninsula with seating, making it easy to cook, dine, and entertain. (UNIT 2 UL)
  • Inviting upper-level bedroom with direct access to a private 3/4 bathroom for added comfort and convenience. (UNIT 2 UL)
    Inviting upper-level bedroom with direct access to a private 3/4 bathroom for added comfort and convenience. (UNIT 2 UL)
  • Thoughtfully updated bathroom with contemporary fixtures, decorative tilework, and a sleek vanity. (UNIT 2 UL)
    Thoughtfully updated bathroom with contemporary fixtures, decorative tilework, and a sleek vanity. (UNIT 2 UL)
  • Clean lines and updated finishes create an attractive, low-maintenance bathroom space. (UNIT 2 UL)
    Clean lines and updated finishes create an attractive, low-maintenance bathroom space. (UNIT 2 UL)
  • Stylish glass shower enclosure and smart use of space create a bright, contemporary feel. (UNIT 2 UL)
    Stylish glass shower enclosure and smart use of space create a bright, contemporary feel. (UNIT 2 UL)
  • Outdoor living is enhanced by a generous yard, mature trees, and convenient access to the home's separate living spaces.
    Outdoor living is enhanced by a generous yard, mature trees, and convenient access to the home's separate living spaces.
  • Generous half-acre lot offers exceptional outdoor space while keeping schools, parks, and community conveniences nearby.
    Generous half-acre lot offers exceptional outdoor space while keeping schools, parks, and community conveniences nearby.
  • 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.
    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.
  • Aerial view highlights the property's expansive half-acre lot, mature tree canopy, and convenient in-town location.
    Aerial view highlights the property's expansive half-acre lot, mature tree canopy, and convenient in-town location.

About The Listing

Excellent turnkey triplex investment opportunity in Monticello! 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.


Listing courtesy of Marci Segner, RE/MAX Advantage Plus
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Property Details

Features

 
 
 
Property Type: Other
Status: Active
Contingency Type: None
Year Built: 1956
MLS #: 7083432
Bedrooms: 5
Square Feet: 2,977
Price Per Square Foot: $140
Garage Spaces: 2
Sewer Description: City Sewer/Connected
Water: City Water/Connected
Heat Type: Baseboard, Forced Air
Basement: Block
Foundation Type: Block
Roof Description: Age 8 Years or Less, Asphalt
Days On Market (Continuous): 0
Disability Features: None
Latest Update: 06/08/2026
List Date: 06/07/2026
Listing Agent ID: 502010731
Listing Office: RE/MAX Advantage Plus
Listing Office ID: 26306
Data Source: NorthstarMLS - The Regional MLS of Minnesota
Laundry Features: Common Area, Main Level
Exterior Features: Metal
Lot Dimensions: 132x165x132x165
Lot Size: 0.501 Acres
Lot Features: Corner Lot
School District: Monticello
Tax Year: 2026
Estimated Taxes: $4,906
Contingency Type: None
City: Monticello
Zip: 55362
County: Wright
Subdivision: Lower Monticello
State: MN

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Listing last updated: 06/08/26

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