For Sale: Minneapolis MLS# 7105425
Active
NEW!
$885,000
Multi-family: Fourplex
8 br • 4 ba • Built 1888
3,560 sqft • 0.15 acres
Minneapolis schools
MLS# 7105425
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Property Description
Gorgeous Italianate building in the heart of Northeast with exceedingly-low vacancy rate (less than 30 days of vacancy between all units in the past 16 years). Hardwood floors, exposed brick, stained glass, and beautiful architecture create beautiful homes for your tenants. Private laundry in 3 units and 1 in basement. Large kitchens, front porch, shared rear porches, 3 garage spaces, plenty of off-street parking, and secured storage rooms for each unit make this an excellent opportunity for investors who want steady rental income. This building is turn-key with NOTHING to be done. Tier 1 rental license to-boot. Current leases are MTM but 3 of 4 tenants have been there for over two years.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$885,000
Price per sq ft:
$249
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
3
County:
Hennepin
Year Built:
1888
State:
MN
Property Style:
Fourplex
Zip Code:
55413
Neighborhood/Area:
71
Subdivision Name:
Sibley Add To St Anth
Interior
Bedrooms:
8
Bathrooms:
4
Finished Area:
3,560 ft2
Living Area:
3,560 ft2
Refrigerators:
One Per Unit
Basement Details:
- Owner Access
- Shared Access
- Storage Space
- Storage/Locker
- Unfinished
Exterior
Stories:
Two
Garage Spaces:
3
Garage Dimensions:
30 x 20
Garage Size:
600 ft2
Garage Door Height:
7
Garage Door Width:
9
Foundation Size:
2,156 ft2
Foundation Dimensions:
54 x 40
Fencing:
None
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Forced Air
- Radiator
Parking Features:
- Concrete
- Detached Garage
Shared Amenities:
Porch
Road Frontage:
- City Street
- Curbs
- No Outlet/Dead End
- Sidewalks
Exterior Material:
Frame
Pool:
None
Roof Details:
- Flat
- Rubber
Rooms
Laundry:
- Electric Dryer Hookup
- Gas Dryer Hookup
- In Basement
- In Unit
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.15
Geolocation:
44.994619, -93.254066
Lot Dimensions:
52 x 129.5
Zoning:
Residential-Multi-Family
Lot Description:
Public Transit (w/in 6 blks)
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
$1,320
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$4,008
Annual Maintenance Expense:
$1,200
Annual Trash Expense:
$2,205
Annual Water/Sewer Expense:
$1,995
Tenant Expenses:
Cable TV, Electricity, Gas
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$11,187
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$11,187
Income
Annual Gross Income:
$85,860
Rent
Annual Net Income:
$70,473
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
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 Luke Real Estate.
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.