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For Sale:  Minneapolis MLS# 7091892

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Active
$574,900
/mo Edit
Multi-family:  Duplex Up and Down
4 br • 2 ba • Built 1960
2,380 sqft • 0.15 acres
Minneapolis schools
MLS# 7091892
763-576-8286
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    Property Description

    Exceptional Up/Down Duplex Near Lake Harriet & Minnehaha Creek. Discover a rare opportunity to own a charming and versatile duplex ideally located on the corner of 53rd Street and Penn Avenue, just one block from scenic Minnehaha Creek and only five blocks south of Lake Harriet. This property features two spacious units, each offering a thoughtfully designed layout that includes a bright living room, formal dining room, full kitchen, two bedrooms, one full bathroom, and a cozy fireplace. The main-level unit showcases beautiful hardwood floors throughout, while the upper unit is comfortably carpeted, providing an added layer of quiet and privacy for tenants. Each unit includes its own garage stall, adding convenience and value for occupants. The unfinished lower level presents outstanding expansion potential and includes an additional fireplace—bringing the total to three fireplaces throughout the home. Whether you're an investor seeking strong rental income, an owner-occupant looking to offset expenses, or exploring short-term rental opportunities such as Airbnb, this property offers exceptional flexibility. Current rents are below market, presenting immediate value-add potential.Enjoy an unbeatable lifestyle with easy access to nearby beaches, popular biking and walking trails, and neighborhood favorites like Broders’ Pasta Bar, Nico’s Tacos, and more — all just minutes away. A unique blend of location, character, and income potential—this is one you won’t want to miss.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $574,900
    Price per sq ft: $242
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 2
    County: Hennepin
    Year Built: 1960
    State: MN
    Property Style: Duplex Up and Down
    Zip Code: 55419
    Neighborhood/Area: 28
    Subdivision Name: Rerats Creekside Add

    Interior

    Bedrooms: 4
    Bathrooms: 2
    Finished Area: 2,380 ft2
    Living Area: 2,380 ft2
    Refrigerators: Two
    Basement Details:
    • Block
    • Full

    Exterior

    Stories: Two
    Garage Spaces: 2
    Foundation Size: 1,176 ft2
    Fencing: None
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Forced Air
    Parking Features:
    • Asphalt
    • Detached Garage
    Shared Amenities: None
    Road Frontage: City Street
    Pool: None
    Roof Details: Age Over 8 Years

    Rooms

    Laundry:
    • Common Area
    • In Basement

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.15
    Geolocation: 44.906831, -93.309
    Lot Dimensions: See Lister
    Zoning: Residential-Multi-Family
    Lot Description:
    • Corner Lot
    • Tree Coverage - Light

    Schools

    School District: 1
    District Phone: 6126680000

    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: Cable TV, Electricity, Fuel, Gas, Heat

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $10,519
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $10,519

    Income

    Annual Gross Income: None
    Misc. Annual Income: None
    Misc. Monthly Income: None

    Rent

    Annual Net Income: None

    Units

    Total Units: 2

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    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 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.