For Sale: Forest Lake MLS# 6822398
Active Contingent
$335,000
Multi-family: 2 Stories
6 br • 4 ba • Built 1980
2,400 sqft
MLS# 6822398
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Property Description
Turn-key side-by-side duplex in a high-demand Forest Lake rental market! Both units are fully leased, delivering immediate cash flow. Each spacious 1, 200 sq ft unit offers 3 BR, 2 BA, in-unit washer/dryer, and brand-new flooring and carpet installed July 2025. New refrigerator and stove in 903 as of October 2025 and new stove in 901 as of November 2025. Tenants love the fenced yard, each with their own shed, and convenient location near lakes, parks, shopping, and major highways. Partial roof replacement completed in 2023 after storm; remaining roof condition unknown. Water heater in Unit 901 replaced in 2022; Unit 903 water heater age unknown. Strong rents, low maintenance updates, and a desirable suburban location make this an outstanding addition to any investment portfolio.
Listing
Listing Status:
Active Contingent
Contingency:
Inspection
List Price:
$335,000
Price per sq ft:
$140
Property Type:
Multi-family
City:
Forest Lake
Garage Spaces:
0
County:
Washington
Year Built:
1980
State:
MN
Property Style:
2 Stories
Zip Code:
55025
Interior
Bedrooms:
6
Bathrooms:
4
Finished Area:
2,400 ft2
Living Area:
2,400 ft2
Basement Details:
None
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
2,400 ft2
Fencing:
Chain Link
Handicap Accessible:
None
Heating System:
Baseboard
Parking Features:
Gravel
Lot & Land
Acres:
0
Geolocation:
45.270151, -92.998587
Lot Dimensions:
125 x 80
Zoning:
Residential-Multi-Family
Schools
School District:
2288
District Phone:
6519828103
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:
2025
Annual Taxes:
$3,948
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
None
Income
Annual Gross Income:
$33,000
Rent
Annual Net Income:
None
Units
Total Units:
2
Miscellaneous
Fuel System:
Electric
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 Bridge 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.