For Sale: Edina MLS# 7000870
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Property Description
Tree-lined, classic 12-unit apartment building ideally tucked behind the Room & Board high-end furniture store and directly across from the renowned upscale Galleria Mall. The property features 11 spacious two-bedroom, one-bath units and one studio, all offering well-designed, open, and functional floor plans.
Residents enjoy walking-distance access to numerous restaurants, shops, banks, Lunds & Byerlys, Whole Foods, Southdale Center, Cub Foods, and Target. Located just 10 minutes from downtown Minneapolis and the University of Minnesota, the property is also situated within the highly sought-after Edina School District.
This property offers a quiet residential sanctuary in the heart of Edina, combining privacy with unmatched convenience. Each unit includes a private one-car detached garage plus one additional off-street parking space.
Additional features include:
Baseboard hot water radiant heat for consistent comfort
Tenants pay electric
Coin-operated laundry on site
Located in Edina—one of the most affluent close-in suburbs of Minneapolis—the property presents future redevelopment potential, situated just half a block from the France Avenue commercial district, which includes hospitals, physician offices, and high-end shopping destinations. The property is zoned PRD-4, allowing for flexible higher-density multifamily development with commercial elements (buyer to verify with the City of Edina).
1031 Exchange property.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,750,000
Property Type:
Commercial
City:
Edina
Garage Spaces:
12
County:
Hennepin
Year Built:
1961
State:
MN
Property Style:
Other
Zip Code:
55435
Subdivision Name:
Stows Edgemoor Add Blk 9 Rep
Exterior
Garage Spaces:
12
Air Conditioning:
Window Unit(s)
Foundation Size:
500 ft2
Handicap Accessible:
No Stairs External
Heating System:
- Baseboard
- Boiler
Parking Features:
- Detached Garage
- Parking Lot
Lot & Land
Acres:
0.67
Geolocation:
44.874667, -93.33046
Inclusions:
Building, Land, Leases
Lot Dimensions:
Irregular
Zoning:
Residential-Multi-Family
Schools
School District:
1234
District Phone:
9528483900
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$28,991
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$28,991
Income
Annual Gross Income:
$189,780
Rent
Annual Net Income:
$140,789
Units
Total Units:
12
Miscellaneous
Current Use:
Residential
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
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!
Listing provided by RMLS,
courtesy of Sweet Home Realty, LLC.
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.