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Rice Lake, WI Multifamily Homes & Duplexes for Sale

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  • 816 and 812 S Wisconsin Ave Unit 816 and 812, Rice Lake, WI 54868
    816 and 812 S Wisconsin Ave Unit 816 and 812, Rice Lake, WI 54868
    816 and 812 S Wisconsin Ave Unit 816 and 812, Rice Lake, WI 54868
    /20

    $230,000

    • 2,613 Sq Ft

    816 and 812 S Wisconsin Ave Unit 816 and 812, Rice Lake, WI 54868

    Are you looking to expand your rental portfolio, invest in a multi-unit property, or purchase a home that can help pay for itself? This unique opportunity features two homes situated on nearly 2 acres right in the City of Rice Lake. The main home offers 4 bedrooms and 1 bathroom, an easy-flowing main level layout, and the convenience of both main-level laundry and main-level bath as well as an

    Casey Watters Real Estate Solutions

    816 and 812 S Wisconsin Ave Unit 816 and 812, Rice Lake, WI 54868
  • 23 E Evans St Unit 3, Rice Lake, WI 54868
    23 E Evans St Unit 3, Rice Lake, WI 54868
    23 E Evans St Unit 3, Rice Lake, WI 54868
    /21

    $269,900

    • 2,284 Sq Ft

    23 E Evans St Unit 3, Rice Lake, WI 54868

    Updated tri-plex with strong cash flow! Features new roof, electrical, windows, plumbing, interior remodeling throughout, fenced back yard, private entrances, plus a 3-car detached garage. Each unit includes hardwood floors, full basement access, onsite laundry, and all appliances. Character details like a clawfoot tub and walk-in shower add charm. Excellent location—just one block from Rice

    Aaron Brunette AABRU Real Estate

    23 E Evans St Unit 3, Rice Lake, WI 54868
  • 502 N Main St Unit 3, Rice Lake, WI 54868
    502 N Main St Unit 3, Rice Lake, WI 54868
    502 N Main St Unit 3, Rice Lake, WI 54868
    /26

    $499,000

    • 6,968 Sq Ft

    502 N Main St Unit 3, Rice Lake, WI 54868

    Great opportunity to own a 6,968 SF building on Main Street in the Central Business District of Rice Lake. Move your business into the lower level and rent out the upper two apartments and detached warehouse for added income. One upper apartment is an efficiency unit with large kitchen, full bath and large outside deck. The second upper apartment is a one bedroom unit with kitchen full bath

    Charles Feather Feather Real Estate Group~Rice Lake

    502 N Main St Unit 3, Rice Lake, WI 54868
  • Lot 3 W South St, Rice Lake, WI 54868
    Lot 3 W South St, Rice Lake, WI 54868
    /2

    $175,000

    Lot 3 W South St, Rice Lake, WI 54868

    Multi-family lot which would fit multiple 4 plexes or 8 plexes or student housing. It could probably also be rezoned to commercial or light industrial.

    Geoff Pedersen Associated Realty LLC

    Lot 3 W South St, Rice Lake, WI 54868
Wisconsin Barron County Rice Lake

Multi-Family Homes & Duplexes for Sale in Rice Lake, WI

Why Live in Rice Lake

Rice Lake, WI, located in the northwestern corner of the state, is a small city known for its picturesque views of Rice Lake and scenic rivers. The area is popular for outdoor activities, with sports parks, trails, and the 104-mile Wild Rivers State Trail catering to all-terrain vehicles, snowmobiles, skiers, cyclists, and pedestrians. Year-round events such as festivals, fairs, circuses, and rodeos provide plenty of things to do. The city serves as a hub for shopping, education, and healthcare for nearby communities, with major employers including Rice Lake Weighing Systems and Marshfield Medical Center. Housing options range from century-old cottages to new subdivisions, with lakefront retreats also available. Parks like Veterans Memorial Park and Lakefront Park offer green spaces and cultural events, while sports complexes host various athletic activities. The Rice Lake Area School District is highly rated, and the University of Wisconsin-Eau Claire at Barron County is nearby. Recent downtown renovations have improved accessibility, enhancing the appeal of local breweries, restaurants, and cafes. Summers are mild, and winters are snowy, making Rice Lake a year-round destination. Car travel is common, with limited public transportation options. Rice Lake is 60 miles north of Eau Claire and 100 miles from Minneapolis/Saint Paul, with the closest commercial airport in Eau Claire, 56 miles away.

Learn more about living in Rice Lake

Home Trends in Rice Lake, WI

On average, homes in Rice Lake, WI sell after 106 days on the market compared to the national average of 53 days. The median sale price for homes in Rice Lake, WI over the last 12 months is $260,000, up 15% from the median home sale price over the previous 12 months.

Housing Trends

Median Sale Price
$260,000
Median Single Family Sale Price
$265,000
Median 2 Bedroom Sale Price
$269,000
Average Price Per Sq Ft
$163
Number of Homes for Sale
60
Last 12 months Home Sales
197
Months of Supply
3.70
Median List Price
$284,950
Median Change From 1st List Price
3%
Median Home Sale Price YoY Change
15%
How to Buy a Home How to Finance a Home How to Sell a Home

In Rice Lake, there are currently 4 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes priced between $175,000 to $499,000, there's a range to accomodate every budget. As of December, 2025 the median home price in Rice Lake is $284,950, while the average sale price is $290,859, offering insights into the local housing market. On average, multi-family homes spend 106 days listed before being sold. Multi-family homes include a variety of property types, from duplexes, triplexes, and fourplexes, to apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're considering a duplex for a beginner investment or an apartment complex for a more substantial venture, there are investment properties available to meet your requirements. Explore the range of multi-family homes for sale in Rice Lake, WI.

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