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640 Minnesota Avenue S

Oronoco, MN 55960

– beds
– baths
3,550 sqft
$108 per sqft
1920 build
– on site

Incredible investment opportunity in the growing community of Oronoco, MN. This well-maintained triplex has been owned by the same landlord for over 20 years and is now primed for increased rental income and long-term value. The property includes three separate units: a spacious 4-bedroom, 2-bath main unit spanning 2,000 sq. ft. across the main and second floors; a 2-bedroom, 1-bath basement unit with 800 sq. ft.; and a 600 sq. ft. efficiency unit with 1 bath on the third floor. Current rents are below market, with Unit A vacant, Unit B renting at $850/month, and Unit C at $750/month. Market rent projections show strong upside, with potential to achieve $1,900 for Unit A, $950 for Unit B, and $850 for Unit C. Each unit is separately metered for gas and electric, and tenants are responsible for their own utilities, including internet. The owner currently covers water, sewer, and trash. Shared laundry is available in the basement, and there is a separate meter for both the mechanical room and laundry area. The property features a dual heating setup with both a boiler system and furnace as well as updated vinyl windows and metal siding and a new roof in 2017. Recent updates include a new water heater within the past five years. The property has also recently been connected to city sewer and water—an essential infrastructure upgrade that supports continued growth in Oronoco. This is a great opportunity for an owner-occupant to live in one unit while generating income from the others. It also makes for a smart first investment or a strong addition to an existing rental portfolio. With solid bones, recent improvements, and significant rent growth potential, this triplex offers excellent value-add potential. Implementation of a RUBS (Ratio Utility Billing System) could further optimize returns. Don’t miss your chance to invest in a cash-flowing asset in a rapidly developing area.

Listing courtesy of NORTHSTAR / Alex Brainard / Harbor Realty & Management Group LLC

Last checked: Checking… • Last updated Mar 30, 2025 •

MLS# 6693134 —

The Building

Year Built:

1920
New Construction:

false
Age Of Property:

105
Construction Materials:

Metal Siding
Roof:

Architectural Shingle
Accessibility Features:

None
Main Level Finished Area:

1075.0000
Basement:

Full, Sump Pump
Basement:

true
Foundation Area:

1075
Building Area Total:

4025
Above Grade Finished Area:

2750
Below Grade Finished Area:

800

Room Dimensions

Living Area:

3550

Location

Directions:

from U.S. Highway 52, take the exit toward Oronoco. Turn onto 1st Street and proceed into Oronoco. Continue straight as 1st Street becomes Minnesota Avenue South. Follow Minnesota Avenue South to reach 640 Minnesota Avenue South, which will be on your left
Latitude:

44.156818
Longitude:

-92.532835

The Property

Parcel Number:

841731028879
Zoning Description:

Residential-Multi-Family
Property Type:

Residential Income
Property Subtype:

Triplex
Additional Parcels:

false
Lot Size Area:

0.41
Lot Size Dimensions:

540
Lot Size Units:

Acres
Water Source:

City Water/Connected
Land Lease:

false

Listing Agent

Contact info:

Taxes

Tax Year:

2024
Tax Annual Amount:

4250
Tax With Assessments:

4250.0000

Heating & Cooling

Heating:

Boiler, Forced Air

Utilities

Electric:

100 Amp Service
Sewer:

City Sewer/Connected

Appliances

Refrigerator:

Three

Schools

Elementary School:

Overland
Middle Or Junior School:

Dakota
High School:

Century
High School District:

Rochester

The Community

Subdivision Name:

Ottman Sub
Assessment Pending:

No

Parking

Parking Features:

Gravel, Parking Lot

Extra Units

# of Units Total:

3

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Sale history

Date	Event	Source	Price	% Change
3/29/25 Mar 29, 2025	Listed / Active	NORTHSTAR	$384,900

Multifamily For Sale

$384,900

Listing provided by broker:

Alex Brainard

Harbor Realty & Management Group LLC

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This multifamily located in Oronoco, MN 55960 is currently for sale for $384,900. 640 Minnesota Avenue S is a 3,550 square foot multifamily with – beds and – baths that has been on Estately for 2 days. This multifamily is in the attendance area of George W. Gibbs Elementary School, Century Senior High School, and Kellogg Middle School.

Listing Courtesy of: NORTHSTAR and Harbor Realty & Management Group LLC.

Estately, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Thomas Rehman, a licensed Real Estate Broker in the state of Minnesota, and a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. Information deemed reliable but not guaranteed.

©2025 Regional Multiple Listing Service of Minnesota, Inc. All Rights Reserved. Information deemed reliable but not guaranteed. Property data presented reflects information otherwise available from public records. The REALTOR® providing this information may not have represented the buyer or seller in some or all of the transactions.

The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. RMLS and Estately, Inc. assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law.

Open house information subject to change without notice.

Based on information submitted to the MLS GRID. 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.