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For Sale:  Minneapolis MLS# 7146328

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Active NEW!
$350,000
/mo Edit
Multi-family:  Duplex Up and Down
6 br • 2 ba • Built 1963
2,006 sqft • 0.12 acres
Minneapolis schools
MLS# 7146328
763-576-8286
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    Property Description

    Fantastic investment opportunity! This well-maintained and updated true up-and-down duplex offers strong rental income, excellent potential, and easy rental appeal. Top Unit is owner occupied and the bottom unit is 1200/month Each spacious unit features 3 bedrooms, 1 bathroom, beautiful hardwood floors, a separate furnace and water heater, and tenant-paid utilities. Built in 1963, this solid duplex also features coin-operated laundry, off-street parking, and numerous updates throughout. The basement offers additional space with potential to add a third unit, subject to city approval. With large units, separate utilities, strong rents, and a desirable layout, this is a great opportunity for an investor looking for a turn-key, income-producing property with additional upside.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $350,000
    Price per sq ft: $174
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 0
    County: Hennepin
    Year Built: 1963
    State: MN
    Property Style: Duplex Up and Down
    Zip Code: 55412
    Neighborhood/Area: 12
    Subdivision Name: Rheems Add

    Interior

    Bedrooms: 6
    Bathrooms: 2
    Finished Area: 2,006 ft2
    Living Area: 2,006 ft2
    Refrigerators: Two
    Basement Details:
    • Daylight/Lookout Windows
    • Full
    • Shared Access
    • Unfinished

    Exterior

    Stories: Two
    Garage Spaces: 0
    Foundation Size: 1,008 ft2
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Forced Air
    Parking Features:
    • Parking Lot
    • Paved Lot
    Road Frontage: City Street
    Roof Details: Age Over 8 Years

    Rooms

    Laundry:
    • Common Area
    • Lower Level

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.12
    Geolocation: 45.014174, -93.308618
    Lot Dimensions: 40X126
    Lot Description: 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

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $4,039
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $4,040

    Income

    Annual Gross Income: $14,400

    Rent

    Annual Net Income: $11,400

    Units

    Total Units: 2

    Miscellaneous

    Fuel System: 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 RE/MAX Results.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.