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For Sale:  Minneapolis MLS# 7040788

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Active
$699,900
/mo Edit
Multi-family:  Fourplex
8 br • 4 ba • Built 1905
4,000 sqft • 0.12 acres
MLS# 7040788
763-576-8286
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    Property Description

    Well maintained, high demand, income producing 4plex. Priced to sell - purchased for $850k in 2019! All units 2/1 1000ft2. Premium Lowry Hill location close to DT, Uptown & all the action. Tucked away on a quiet street. Many big ticket items like new water heaters, new windows, SS appliances & cosmetic work in units including updated kitchens has been done in last 5-8 yrs. Timeless hardwood floors & built-in buffets in units - well preserved character throughout. Paved expansive parking lot in rear - plenty of off-street parking for all units. Clean, dry basement provides shared laundry & storage. Close walk/biking distance to Lake of the Isles, Bde Maka Ska, bike trails, DT, nightlife & shopping. Ave rent $1510/m per unit. Separate utilities. Great option for investor or owner-occ via House Hack; will be at least 1 unit avail to move into post closing.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $699,900
    Price per sq ft: $175
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 0
    County: Hennepin
    Year Built: 1905
    State: MN
    Property Style: Fourplex
    Zip Code: 55408
    Neighborhood/Area: 47

    Interior

    Bedrooms: 8
    Bathrooms: 4
    Finished Area: 4,000 ft2
    Living Area: 4,000 ft2
    Refrigerators: Four
    Basement Details:
    • Full
    • Unfinished

    Exterior

    Stories: Two
    Garage Spaces: 0
    Foundation Size: 1,926 ft2
    Handicap Accessible: None
    Heating System: Boiler
    Parking Features: Asphalt
    Road Frontage:
    • City Street
    • Curbs
    • Paved Streets
    • Sidewalks
    Pool: None
    Roof Details: Flat

    Rooms

    Laundry: In Basement

    Lot & Land

    Acres: 0.12
    Geolocation: 44.953055, -93.293524
    Lot Dimensions: 40 x 128
    Zoning: Residential-Multi-Family
    Lot Description:
    • Public Transit (w/in 6 blks)
    • Tree Coverage - Light

    Schools

    School District: 558
    District Phone: 6126680000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $900
    Annual Fuel Expense: $1,200
    Annual Insurance Expense: $6,000
    Annual Maintenance Expense: None
    Annual Trash Expense: $1,100
    Annual Water/Sewer Expense: $1,100
    Tenant Expenses: Electricity, Gas

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $12,469
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $12,469

    Income

    Annual Gross Income: $72,420

    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!

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    Listing provided by RMLS, courtesy of Verde Real Estate Group.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.