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For Sale:  Minneapolis MLS# 7140287

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Active NEW!
$399,900
/mo Edit
Multi-family:  Fourplex
2 br • 4 ba • Built 1906
2,658 sqft • 0.12 acres
Minneapolis schools
MLS# 7140287
763-576-8286
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    Property Description

    Excellent opportunity for an owner-occupant or investor in this four-unit Minneapolis residential income property. Unit #1 is now vacant, providing the option for a buyer to move in while generating income from the remaining units. The property consists of two 1-bedroom units and two studio units, each with a full bath. Units feature hardwood floors, natural woodwork, solid-surface countertops, ranges, and refrigerators. The shared full basement provides additional storage along with free laundry for residents. Four detached single-stall garages provide valuable off-street parking and may be leased separately for additional income potential. Major recent improvements include a new electrical main, new boiler, and new roofs on both the house and garages. Conveniently located near public transit, neighborhood businesses, dining, parks, and downtown Minneapolis.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $399,900
    Price per sq ft: $150
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 4
    County: Hennepin
    Year Built: 1906
    State: MN
    Property Style: Fourplex
    Zip Code: 55407
    Neighborhood/Area: 63
    Subdivision Name: Woodburn Add

    Interior

    Bedrooms: 2
    Bathrooms: 4
    Finished Area: 2,658 ft2
    Living Area: 2,658 ft2
    Refrigerators: Four
    Basement Details:
    • Full
    • Shared Access
    • Storage Space
    • Storage/Locker
    • Unfinished

    Exterior

    Stories: Two
    Garage Spaces: 4
    Garage Size: 800 ft2
    Foundation Size: 2,700 ft2
    Fencing: Chain Link, Wood
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Boiler
    Parking Features:
    • Detached Garage
    • Multiple Garages
    • Storage
    Shared Amenities:
    • Laundry
    • Lobby Entrance
    • Other
    • Security Lighting
    Road Frontage: City Street
    Roof Details: Age 8 Years or Less

    Rooms

    Laundry: Lower Level

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.12
    Geolocation: 44.953014, -93.263539
    Lot Dimensions: 42 x 123
    Lot Description:
    • Public Transit (w/in 6 blks)
    • Tree Coverage - Medium

    Farm

    Topography: Level

    Schools

    School District: 1
    District Phone: 6126680000

    Expenses

    Annual Caretaker Expense: $1,200
    Annual Electric Expense: None
    Annual Fuel Expense: $1,642
    Annual Insurance Expense: $3,738
    Annual Maintenance Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: $6,270
    Tenant Expenses: Cable TV, Electricity, Telephone

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $5,916
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $5,916

    Income

    Annual Gross Income: $40,080

    Rent

    Annual Net Income: $16,330

    Units

    Total Units: 4

    Miscellaneous

    Fuel System:
    • Electric
    • Natural Gas
    Owner Occupied: Yes
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected
    Power Company Name: Xcel Energy

    Mortgage Calculator

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    Payment:  /mo

    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!

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    Listing provided by RMLS, courtesy of Keller Williams Realty Integrity Lakes.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.