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For Sale:  Mahtomedi MLS# 7019322

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Active NEW!
$525,000
/mo Edit
Multi-family:  1 Story
7 br • 3 ba • Built 1968
2,660 sqft • 0.3 acres
MLS# 7019322
763-576-8286
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    Property Description

    Exceptional opportunity to own a rare duplex in the heart of Mahtomedi, just five blocks from White Bear Lake and located in the highly rated Mahtomedi School District. Ideal for owner-occupants or investors alike, live in one unit while generating income from the other. While the units are close mirrors of each other, the vacant unit is equipped with four bedrooms and two bathrooms while the rented unit has three bedrooms and one bathroom. Recent improvements add significant value and peace of mind, including sewer line replacement in 2025 a new roof in 2023. The vacant unit has been updated with fresh interior paint, new flooring, new range, new air conditioning system, all new closet doors and some new interior doors. Driveway replaced in 2020. Both units include finished lower levels with walkout access and separate private entrances, creating excellent separation, added functionality, and potential for multi-generational living or enhanced rental value. Set on a desirable corner lot near the lake, schools, parks, and local amenities, this is a rare opportunity to own a versatile property in one of Mahtomedi’s most sought-after neighborhoods.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $525,000
    Price per sq ft: $197
    Property Type: Multi-family
    City: Mahtomedi
    Garage Spaces: 2
    County: Washington
    Year Built: 1968
    State: MN
    Property Style: 1 Story
    Zip Code: 55115
    Subdivision Name: Rls 31

    Interior

    Bedrooms: 7
    Bathrooms: 3
    Finished Area: 2,660 ft2
    Living Area: 2,660 ft2
    Refrigerators: Two
    Basement Details:
    • Daylight/Lookout Windows
    • Egress Window(s)
    • Finished
    • Full
    • Walkout

    Exterior

    Stories: One
    Garage Spaces: 2
    Garage Dimensions: 20x22
    Garage Size: 440 ft2
    Foundation Size: 1,382 ft2
    Handicap Accessible: None
    Heating System:
    • Baseboard
    • Boiler
    Parking Features:
    • Asphalt
    • Detached Garage
    Road Frontage: Paved Streets
    Roof Details:
    • Age 8 Years or Less
    • Asphalt

    Rooms

    Laundry:
    • Gas Dryer Hookup
    • In Basement
    • Washer Hookup

    Lot & Land

    Acres: 0.3
    Geolocation: 45.0658789511, -92.9521152205
    Lot Dimensions: 114 x 160 x 56 x 174
    Zoning: Residential-Multi-Family
    Lot Description:
    • Corner Lot
    • Irregular Lot

    Schools

    School District: 2289
    District Phone: 6514072001

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: None
    Annual Maintenance Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: None
    Tenant Expenses: All Utilities

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $4,197
    Lender-owned: No
    Assessment Pending: Yes
    Taxes w/ Assessments: $4,990

    Income

    Annual Gross Income: $51,000

    Rent

    Annual Net Income: None

    Units

    Total Units: 2

    Miscellaneous

    Fuel System:
    • Electric
    • Natural Gas
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

    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 Premier Realty Lake Minnetonka.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.