For Sale: Minneapolis MLS# 7151695
Active
NEW!
$614,990
Multi-family: Fourplex
4 br • 4 ba • Built 1925
3,000 sqft • 0.11 acres
Minneapolis schools
MLS# 7151695
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Property Description
Classic Minneapolis stucco fourplex with four one bedroom, one bath apartments available for a new owner! The front has traditional brown shutters, vintage 1920’s styling and a red entry awning. Inside, strip oak hardwood floors, arched plaster openings, cast iron radiators heated by gas boilers and Art-Deco windows run through the apartments, with dark stained woodwork in many living and dining rooms. Bathrooms have white tile, glass block windows and pedestal sinks. Unit 1 is vacant and has ceiling fans, a white steel kitchen with vintage built-in drainboard sink as well as recently refinished floors. Behind the building are a fenced back yard and a three-stall garage, with spaces renting separately, plus one additional assigned parking space. All garage spaces and additional parking is currently leased. Each unit has a private basement storage room, and the building has coin laundry. Tenants pay their own gas and electric. The owner pays water, sewer and trash. Four more storage rooms and a pet fee are not in current income. Units 2 to 4 are leased into 2027. This would also make an excellent property to “house hack” with owner living in the vacant unit and having the other Units pay a considerable portion of the payment every month! This property is just a short walk from the 38th Street LRT station for easy commuting. Lake Hiawatha with its walking paths and the golf course are nearby, along with Northbound Smokehouse & Brew Pub, Key West Coffee and Aluvava gluten-free bakery! Don’t miss the opportunity to own a great investment property in the very desirable Minneapolis Standish neighborhood!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$614,990
Price per sq ft:
$205
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
3
County:
Hennepin
Year Built:
1925
State:
MN
Property Style:
Fourplex
Zip Code:
55406
Neighborhood/Area:
73
Subdivision Name:
Subd Altruria-Lots 1 To 5 & 12
Interior
Bedrooms:
4
Bathrooms:
4
Finished Area:
3,000 ft2
Living Area:
3,000 ft2
Refrigerators:
Four
Basement Details:
- Full
- Shared Access
- Storage Space
- Unfinished
Exterior
Stories:
Two
Garage Spaces:
3
Garage Size:
600 ft2
Foundation Size:
1,500 ft2
Handicap Accessible:
None
Heating System:
Hot Water
Parking Features:
- Asphalt
- Assigned
- Detached Garage
Shared Amenities:
- Coin-op Laundry Owned
- Laundry
Road Frontage:
City Street
Roof Details:
Age 8 Years or Less
Rooms
Laundry:
- Common Area
- In Basement
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.11
Geolocation:
44.933762, -93.231746
Lot Dimensions:
40 x 125
Zoning:
Residential-Multi-Family
Lot Description:
Public Transit (w/in 6 blks)
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$5,740
Annual Maintenance Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Tenant Expenses:
Cable TV, Electricity, Gas
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$9,490
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$9,490
Income
Annual Gross Income:
$49,775
Misc. Annual Income:
$4,197
Rent
Annual Net Income:
$29,108
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of RE/MAX Results.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.