For Sale: Minneapolis MLS# 7097885
Active
$674,999
Multi-family: Fourplex
7 br • 5 ba • Built 1891
3,300 sqft • 0.19 acres
Minneapolis schools
MLS# 7097885
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Property Description
Price improved to $674, 999. A true hybrid: three of the four units were taken to high-end condition in the 2016 renovation, while the rest is upside you can see. The fourth unit is original and has been occupied by the property caretaker for 16 years. Both 1-bedrooms are large and convert easily to 2-bedrooms, and the existing 2-bedroom is the same floor plan, so the conversion is already proven in this building. The lower level has a fully finished bathroom, an egress window and its own meter, and needs a kitchen to become a fifth unit, taking the building from 7 bedrooms to as many as 10 (buyer to verify conforming use with the City). The showpiece is a two-level 3bd/2ba with its own central A/C, a loft, heated tile bath and private balcony. Rents sit under market, the 2-bedroom is being vacated and can be delivered empty, and both 1-bedrooms roll to month-to-month October 1, so a new owner has control from day one. Coin laundry, four large storage units not currently charged for, porch, deck and 8 off-street parking spots.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$674,999
Price per sq ft:
$205
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1891
State:
MN
Property Style:
Fourplex
Zip Code:
55418
Neighborhood/Area:
33
Subdivision Name:
Menages Sup To East Side Add
Interior
Bedrooms:
7
Bathrooms:
5
Finished Area:
3,300 ft2
Living Area:
3,300 ft2
Refrigerators:
Four
Basement Details:
Full
Exterior
Stories:
More Than 2 Stories
Garage Spaces:
0
Foundation Size:
1,100 ft2
Fencing:
None
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
- Parking Lot
- Shared Driveway
Shared Amenities:
- Coin-op Laundry Owned
- Deck
- Laundry
- Patio
- Porch
Exterior Material:
Frame
Pool:
None
Roof Details:
- Asphalt
- Pitched
Rooms
Laundry:
- Common Area
- In Basement
- Sink
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.19
Geolocation:
45.014063, -93.249625
Lot Dimensions:
46’ x 182’
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$823
Annual Fuel Expense:
$80
Annual Insurance Expense:
None
Annual Maintenance Expense:
$265
Annual Trash Expense:
$1,881
Annual Water/Sewer Expense:
$3,272
Tenant Expenses:
Electricity, Gas, Heat
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$9,933
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$10,763
Income
Annual Gross Income:
$66,120
Rent
Annual Net Income:
$31,111
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.
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Listing provided by RMLS,
courtesy of MRG Realty Partners, 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.