For Sale: Minneapolis MLS# 6711073
Active
$639,900
Multi-family: Duplex Up and Down
Built 1914
2,924 sqft • 0.17 acres
Minneapolis schools
MLS# 6711073
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Property Description
**Multiple Offers- highest and best due Monday at 6:00pm***
Incredible Investment Opportunity with Assumable 2.25% Mortgage! This charming, fully updated up/down duplex offers both immediate cash flow and long-term upsideâ??perfect for savvy investors. Take advantage of an ultra-low assumable mortgage rate (for qualified buyers) and save hundreds each month on interest while your tenants cover the mortgage. The property features two spacious, sun-filled units, each with 3 bedrooms, 1 bathroom, large kitchens, formal dining rooms, walk-in closets, mudrooms, in-unit laundry, and ample storage. Both units have been tastefully updated while preserving vintage charm, and offer private outdoor space surrounded by mature landscaping. With layouts that live like a single-family home, this duplex attracts high-quality tenants and commands strong rents. Currently generating $4, 645/month in gross rental income, the lower unit rents for $2, 495 and will be available July 1, providing owner-occupant flexibility or the chance to increase rents. The upper unit is rented at $2, 150/month through August 1, with no intent to vacate. The landlord pays all utilities except electric and internet, keeping overhead predictable and manageable. For investors seeking added value, the dry, clean basement with full-height ceilings offers potential to expand the lower unit by adding bedrooms and bathrooms. The oversized detached garage (currently used for storage) also presents an opportunity to convert into an ADU, further increasing income. Located in a quiet, high-end residential pocket across from Theo Wirth Parkway, with quick access to downtown, bike trails, and major highwaysâ??this is a wonderful Bryn-Mawr neighborhood with strong appreciation potential.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$639,900
Price per sq ft:
$219
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
2
County:
Hennepin
Year Built:
1914
State:
MN
Property Style:
Duplex Up and Down
Zip Code:
55405
Neighborhood/Area:
Bryn - Mawr
Subdivision Name:
Bryn - Mawr
Interior
Finished Area:
2,924 ft2
Living Area:
2,924 ft2
Ranges:
Two
Refrigerators:
Two
Basement Details:
- Finished
- Full
Exterior
Stories:
Two
Garage Spaces:
2
Foundation Size:
1,657 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
- Carport
- Detached
- More Parking Offsite for Fee
Shared Amenities:
Patio
Exterior Material:
Wood Siding
Roof Details:
Age Over 8 Years
Rooms
Shared Rooms:
Other
Lot & Land
Acres:
0.17
Geolocation:
44.980235, -93.316335
Lot Dimensions:
118 x 58 x 128 x 48 x 14
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
$1,716
Annual Insurance Expense:
$2,500
Annual Maintenance Expense:
$750
Annual Gross Expense:
$7,801
Annual Trash Expense:
$1,080
Annual Water/Sewer Expense:
$1,080
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$8,763
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$8,763
Income
Annual Gross Income:
$55,740
Units
Total Units:
2
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Edina Realty, Inc..
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.