$384,000

700 E Summit Ave Fergus Falls, MN 56537

Estimated payment $2,395/month

5 Beds
4 Baths
4,216 Sq Ft
$91 Price per Sq Ft

Highlights

  • 4 Car Detached Garage
  • Baseboard Heating
  • Grab Bar In Bathroom
  • 1-Story Property

About This Home

This multi-family residential property has loads of potential. Previous owner lived in one unit as a primary residence, and rented out the others allowing for homestead tax status. Currently all units are rented on a month-to-month basis. Currently set up with two 2-bedroom, units and one 1-bedroom unit, with a strong potential for a 4th efficiency or larger unit with minimal modifications. Laundry available in each unit. 1 tuck-under attached garage, and 3 additional detached garage stalls, plus insulated 24 x 16 workshop/storage area and 8x10 storage shed.

Listing Agent

Jane Neubauer

Trilogy Real Estate Listed on: 03/27/2026

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,114

Year Built

  • Built in 1961

Lot Details

  • Lot Dimensions are 75 x 142
  • Few Trees

Parking

  • 4 Car Detached Garage
  • Tuck Under Garage

Home Design

  • Triplex
  • Block Exterior

Interior Spaces

  • 1-Story Property
  • Laundry in unit

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Finished Basement

  • Basement Fills Entire Space Under The House
  • Block Basement Construction
  • Basement Window Egress

Accessible Home Design

  • Grab Bar In Bathroom

Utilities

  • Baseboard Heating
  • Boiler Heating System

Community Details

  • 3 Units
  • North Division/Fergus Falls Subdivision

Listing and Financial Details

  • The owner pays for heat, insurance, repairs, roof maintenance, trash collection, water
  • Assessor Parcel Number 71002990931000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,114

Year Built

Built in 1961

Lot Details

0.38 Acres

Parking

4

Listing Details

  • Type: Residential Income
  • Property Subtype 1: Triplex
  • Garage Spaces: 4
  • Accessibility Features: Grab Bars In Bathroom
  • Water Source: City Water/Connected
  • Year Built: 1961
  • Above Grade Finished Sq Ft: 2228
  • Unit Levels: One
  • New Construction: No
  • FractionalOwnershipYN: No
  • Rental License?: Y
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Block, Egress Window(s), Finished, Full, Single Tenant Access
  • Living Area: 4216
  • Below Grade Finished Sq Ft: 1988
  • Owner Pays: Heat, Insurance, Repairs, Roof Maintenance, Trash Collection, Water
  • Basement YN: Yes
  • Amenities: Ceiling Fan(s), Washer/Dryer Hookup
  • Appliances: Dishwasher, Dryer, Water Heater - Electric, Range, Refrigerator, Washer
  • FamilyRoomRoomFeatures: Lower Level, Main Level
  • Number Of Fireplaces: 1
  • Amenities: Ceiling Fan(s)
  • Appliances: Dishwasher, Dryer, Water Heater - Electric, Range, Refrigerator, Washer
  • Amenities: Ceiling Fan(s), Washer/Dryer Hookup
  • Appliances: Dishwasher, Dryer, Water Heater - Electric, Range, Refrigerator, Washer
  • Total Rooms: 5
  • FamilyRoomRoomFeatures: Main Level

Beds/Baths

  • Total Bedrooms: 5

Exterior Features

  • Roof: Asphalt
  • PoolFeatures: None

Garage/Parking

  • Parking Features: Detached Garage, Gravel, Tuckunder Garage
  • Other Parking Spaces: 1
  • Other Parking Spaces: 1

Utilities

  • Heating: Baseboard, Boiler
  • Sewer: City Sewer/Connected
  • LaundryFeatures: In Unit
  • Fuel: Electric, Natural Gas
  • Power Company: Ottertail Power

Schools

  • Junior High Dist: Fergus Falls
  • SchoolDistrictPhone: 2189980544

Lot Info

  • Lot Size: 75 x 142
  • Land Lease: No
  • Lot Features: Tree Coverage - Light
  • Additional Parcels: No
  • Zoning Description: Residential-Multi-Family,Residential-Single Family
  • AssessmentPending: No
  • Yearly/Seasonal: Yearly

Building Info

  • Construction Materials: Block
  • Units Total: 3

Tax Info

  • Tax Year: 2025
  • Assessor Parcel Number: 71002990931000
  • Tax Annual Amount: 4114
  • TaxWithAssessments: 4114

Multi Family

  • TenantPays: Cable TV, Electricity, Telephone
  • ElectricExpense: 2199
  • FuelExpense: 2502
  • Number Of Refrigerators: Four

Map

Range of Values:

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Value Increase
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $4,114 $377,100 $21,700 $355,400
2024 $4,252 $341,900 $21,700 $320,200
2023 $3,756 $307,700 $21,700 $286,000
2022 $3,524 $375,600 $0 $0
2021 $3,376 $307,700 $21,700 $286,000
2020 $3,094 $253,800 $19,900 $233,900
2019 $2,768 $205,800 $19,900 $185,900
2018 $2,506 $205,800 $19,900 $185,900
2017 $2,440 $193,200 $17,300 $175,900
2016 $2,308 $181,700 $17,300 $164,400
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/27/2026 03/27/26 For Sale $384,000 -- $91 / Sq Ft
Source: NorthstarMLS

Source: NorthstarMLS

MLS Number: 7044870

NorthstarMLS

APN: 71002990931000

Minnesota Otter Tail County Fergus Falls 56537

700 E Summit Ave, Fergus Falls, MN

For Sale

MultiFamily

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

NorthstarMLS 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. Some IDX listings have been excluded from this website.
Based on information submitted to the MLS GRID

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Listing Agent
Jane Neubauer
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Trilogy Real Estate
(218) 492-7286
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