For Sale: Minneapolis MLS# 7024189
Active
$1,500,000
Multi-family: Four Plex
20 br • 12 ba • Built 2008
5,510 sqft • 0.15 acres
MLS# 7024189
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Property Description
WOW! A newer-construction four-unit near the University of Minnesota is a rare find. Built in 2008, this townhome-style property features four spacious units, each offering 5 bedrooms and 3 bathrooms—an ideal layout that continues to see strong rental demand. Modern construction, functional floor plans, and generous unit sizes make this opportunity stand out from typical multi-family options. This property is so sought after it has never seen any vacancy since it was built! Over 16 years with no vacancy!
Tenants pay all utilities with trash billed back by the owner, helping simplify expense management. Fee-based off-street parking is available in the adjacent lot, providing convenient parking flexibility.
Whether you are seeking an owner-occupant opportunity with income potential or a strong addition to an investment portfolio, this property checks the boxes. Newer four-plex properties in this location rarely become available, making this a unique chance to secure a high-demand multi-family asset with lasting appeal.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,500,000
Price per sq ft:
$272
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
2008
State:
MN
Property Style:
Four Plex
Zip Code:
55414
Neighborhood/Area:
65
Subdivision Name:
Meeker Island Land & Power Co Add Rev
Interior
Bedrooms:
20
Bathrooms:
12
Finished Area:
5,510 ft2
Living Area:
5,510 ft2
Basement Details:
Finished
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
2,445 ft2
Handicap Accessible:
None
Heating System:
- Fireplace(s)
- Forced Air
Lot & Land
Acres:
0.15
Geolocation:
44.966383, -93.220938
Lot Dimensions:
50 x 133
Schools
School District:
558
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$706
Annual Fuel Expense:
None
Annual Insurance Expense:
$4,476
Annual Maintenance Expense:
$7,800
Annual Trash Expense:
$2,440
Annual Water/Sewer Expense:
$6,981
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$20,991
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$20,991
Income
Annual Gross Income:
$146,032
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Sewer System:
City Sewer/Connected
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 Financially Free, 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.