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For Sale:  Minneapolis MLS# 7060996

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Active NEW!
$499,000
/mo Edit
Multi-family:  Fourplex
5 br • 4 ba • Built 1885
2,561 sqft • 0.13 acres
Minneapolis schools
MLS# 7060996
763-576-8286
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    Property Description

    Turnkey 4-Unit in Prime Urban Corridor Solid investment opportunity with major capital improvements already in place. This well-maintained fourplex features updated plumbing & electrical, newer windows and appliances, refreshed interiors including carpet, paint, and refinished floors. New electrical with separate panels (2020), vinyl siding (2019), windows (2014), chimney tuck-pointing with new caps (2022), new back railings (2023), and a sealed 4-stall parking lot (2025). Positioned just minutes from downtown & U.S. Bank Stadium, the U of M, light rail access, and a strong mix of retail, coffee, and daily conveniences.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $499,000
    Price per sq ft: $195
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 0
    County: Hennepin
    Year Built: 1885
    State: MN
    Property Style: Fourplex
    Zip Code: 55404
    Neighborhood/Area: 78
    Subdivision Name: Cornells 3rd Add

    Interior

    Bedrooms: 5
    Bathrooms: 4
    Finished Area: 2,561 ft2
    Living Area: 2,561 ft2
    Refrigerators: Four
    Basement Details:
    • Partial
    • Unfinished

    Exterior

    Stories: Two
    Garage Spaces: 0
    Foundation Size: 1,275 ft2
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System:
    • Baseboard
    • Ductless Mini-Split
    • Forced Air
    Parking Features:
    • Open
    • Parking Lot
    Road Frontage:
    • City Street
    • Curbs
    • Paved Streets
    • Sidewalks
    • Storm Sewer
    Roof Details:
    • Age Over 8 Years
    • Asphalt

    Rooms

    Laundry: None

    Lot & Land

    Acres: 0.13
    Geolocation: 44.963136, -93.254398
    Lot Dimensions: 40 x 144
    Zoning: Residential-Multi-Family

    Schools

    School District: 1
    District Phone: 6126680000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $693
    Annual Fuel Expense: $671
    Annual Insurance Expense: $4,041
    Annual Maintenance Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: $4,703
    Tenant Expenses: Broadband, Cable TV, Electricity, Gas

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $7,008
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $7,000

    Income

    Annual Gross Income: $53,340

    Rent

    Annual Net Income: $36,224

    Units

    Total Units: 4

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected
    Power Company Name: Xcel Energy

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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 Coldwell Banker Realty - Lakes.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.