For Sale: Minneapolis MLS# 7087862
Active
$519,000
Multi-family: Fourplex
1 br • 1 ba • Built 1910
2,688 sqft • 0.12 acres
Minneapolis schools
MLS# 7087862
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Property Description
Four-unit property with Northeast character in a great location of the Beltrami neighborhood. Grocery stores, restaurants, breweries, and the University of Minnesota all in close proximity. All units are currently rented month-to-month with long-term tenants in place. The property includes two 2-bedroom units on the upper floor and two 1-bedroom units on the main level. Unit 1 was originally a neighborhood storefront during the roaring ’20s, adding a colorful chapter of local history to the property.
Additional income opportunities include rent growth, RUBS implementation, monetizing the 5 garage spaces, and pet rent (building is dog-friendly). Large lot with yard adds further tenant appeal.
Unit 1 - 672 sqft (1BR/1BA) – $1, 000
Unit 2 - 588 sqft (1BR/1BA) – $950
Unit 3 - 672 sqft (2BR/1BA) – $1, 050
Unit 4 - 588 sqft (2BR/1BA) – $1, 000
Building Improvements:
Roof: New in 2017
Garage Roof: New 2026
Boiler: New in 2013
Plumbing: PEX, 2013
Water Heaters: Replaced in 2013
Operating Expense Taxes: $9, 381 Water + Solid Waste: $4, 131 Insurance: $2, 481 Gas : $2, 769 Electric: $500
Listing
Listing Status:
Active
Contingency:
None
List Price:
$519,000
Price per sq ft:
$193
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
5
County:
Hennepin
Year Built:
1910
State:
MN
Property Style:
Fourplex
Zip Code:
55413
Neighborhood/Area:
4
Subdivision Name:
Ramsey Lockwood & Others Add St Anth
Interior
Bedrooms:
1
Bathrooms:
1
Finished Area:
2,688 ft2
Living Area:
2,688 ft2
Basement Details:
Block
Exterior
Stories:
Two
Garage Spaces:
5
Garage Size:
800 ft2
Foundation Size:
1,344 ft2
Foundation Dimensions:
48x28
Handicap Accessible:
None
Heating System:
- Radiant
- Radiator
Parking Features:
Detached Garage
Roof Details:
Flat
Rooms
Laundry:
In Basement
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.12
Geolocation:
44.994954, -93.240084
Lot Dimensions:
39.30 X 131.00
Lot Description:
Corner Lot
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$500
Annual Fuel Expense:
$2,769
Annual Insurance Expense:
$2,579
Annual Maintenance Expense:
$500
Annual Trash Expense:
$2,131
Annual Water/Sewer Expense:
$2,000
Tenant Expenses:
Broadband, Cable TV, Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$8,571
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$8,872
Income
Annual Gross Income:
$48,000
Rent
Annual Net Income:
$28,000
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer - In Street
Water System:
City Water - In Street
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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!
Listing provided by RMLS,
courtesy of Lifestyles.
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.