204 Lake Ave E
Hill City, MN 55748
8 Beds
5 Baths
6,144 sqft (on 0.56 acres)
8 Beds
5 Baths
6,144 sqft
(on 0.56 acres)
Local Information
© Google
-- mins to
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.
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 Highlights
Parking
No Info
Outdoor
No Info
A/C
Heating only
HOA
None
Price/Sqft
$56
Listed
180+ days ago
Home Details for 204 Lake Ave E
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MLS Status: Active |
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Interior Details Basement: None |
Beds & Baths Number of Bedrooms: 8Number of Bathrooms: 5 |
Dimensions and Layout Living Area: 6144 Square FeetFoundation Area: 4096 |
Heating & Cooling Heating: BaseboardHas HeatingHeating Fuel: Baseboard |
Gas & Electric Gas: Electric |
Levels, Entrance, & Accessibility Number of Stories: 2Levels: TwoAccessibility: No Stairs Internal |
View No View |
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Exterior Home Features Roof: Age Over 8 Years Asphalt |
Parking & Garage No CarportNo GarageNo Attached GarageParking: Gravel |
Frontage Road Frontage: City StreetResponsible for Road Maintenance: Public Maintained RoadNot on Waterfront |
Water & Sewer Sewer: City Sewer/Connected |
Finished Area Finished Area (above surface): 4096 Square Feet |
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Days on Market: 180+ |
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Year Built Year Built: 1985 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Quadruplex |
Building Construction Materials: BlockNot a New ConstructionHas Additional Parcels |
Property Information Parcel Number: 571027200Additional Parcels Description: 571027500, 571027400 |
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Price List Price: $344,900Price Per Sqft: $56 |
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Direction & Address City: Hill CityCommunity: Bucks Add |
School Information High School District: Hill City |
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Listing Agent Listing ID: 6786681 |
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Building Area Building Area: 6144 Square Feet |
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Lot Area: 0.56 acres |
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Contingencies: None |
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Expense Tenant Pays: Cable TV, Electricity, Heat |
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Owner Pays: Insurance, Grounds Care, Repairs, Snow Removal, Taxes, Trash Collection |
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Mls Number: 6786681Above Grade Unfinished Area: 4096Activation Date: Sat Sep 20 2025 |
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HOA Amenities: Deck,Patio |
Last check for updates: about 15 hours ago
Listing courtesy of David Liedl, (218) 760-9176
Woods to Water Real Estate
Source: NorthstarMLS as distributed by MLS GRID, MLS#6786681
Also Listed on NorthstarMLS as distributed by MLS GRID.
Price History for 204 Lake Ave E
| Date | Price | Event | Source |
|---|---|---|---|
| 03/02/2026 | $344,900 | PriceChange | NorthstarMLS as distributed by MLS GRID #6786681 |
| 09/20/2025 | $365,000 | Listed For Sale | NorthstarMLS as distributed by MLS GRID #6786681 |
| 05/27/2022 | $250,000 | Sold | NorthstarMLS as distributed by MLS GRID #6156423 |
| 05/19/2022 | $279,900 | Pending | NorthstarMLS as distributed by MLS GRID #6156423 |
| 02/24/2022 | $279,900 | Listed For Sale | NorthstarMLS as distributed by MLS GRID #6156423 |
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Property Tax and Assessment
| Year | 2025 |
|---|---|
| Tax | $2,868 |
| Assessment | $219,772 |
Home facts updated by county records
Assigned Schools
These are the assigned schools for 204 Lake Ave E.
- Hill City Elementary School
- PK-4
- Public
- 104 Students
7/10GreatSchools RatingParent Rating Average
No reviews available for this school. - Hill City Secondary
- 9-12
- Public
- 85 Students
3/10GreatSchools RatingParent Rating AverageNo reviews available for this school. - Hill City Middle School
- 5-8
- Public
- 67 Students
2/10GreatSchools RatingParent Rating AverageNo reviews available for this school. 
Check out schools near 204 Lake Ave E.
What Locals Say about Hill City
At least 2 Trulia users voted on each feature.
100 % Say people would walk alone at night
100 % Say parking is easy
100 % Say it's walkable to restaurants
100 % Say yards are well-kept
80 % Say there's wildlife
80 % Say it's walkable to grocery stores
75 % Say it's dog friendly
70 % Say neighbors are friendly
60 % Say there's holiday spirit
60 % Say there are community events
60 % Say it's quiet
50 % Say they plan to stay for at least 5 years
50 % Say streets are well-lit
50 % Say car is needed
33 % Say kids play outside
Learn more about our methodology.
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
David Liedl, Woods to Water Real Estate
Agent Phone: (218) 760-9176
Based on information submitted to the MLS GRID as of 2026-04-28 15:13:15 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. Click here for more information
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204 Lake Ave E, Hill City, MN 55748 is a 8 bedroom, 5 bathroom, 6,144 sqft multi-family built in 1985. This property is currently available for sale and was listed by NorthstarMLS as distributed by MLS GRID on Sep 12, 2025. The MLS # for this home is MLS# 6786681.