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For Sale:  Minneapolis MLS# 7101570

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Active NEW!
$539,999
/mo Edit
Multi-family:  Duplex Other
12 br • 4 ba • Built 1913
3,124 sqft • 0.11 acres
Minneapolis schools
MLS# 7101570
763-576-8286
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    Property Description

    Rare opportunity to own a well-maintained, turnkey fourplex in a desirable location! Whether you're looking to owner-occupy or expand your investment portfolio, this property offers exceptional value. Live in one unit while the rental income helps offset your mortgage and living expenses, or enjoy strong, consistent cash flow as a fully leased investment. The property has maintained 100% occupancy over the past year with outstanding tenants and currently generates $5, 800 per month in rental income. Each unit features two bedrooms plus a bright front sunroom, offering the flexibility to use the space as a home office, nursery, or potential third bedroom. Recent updates include a new water heater, adding peace of mind for the next owner. Additional amenities include a private off-street parking lot, providing convenient parking for tenants. This is a rare opportunity to purchase a move-in, rent-ready fourplex with a proven rental history and excellent income potential.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $539,999
    Price per sq ft: $173
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 0
    County: Hennepin
    Year Built: 1913
    State: MN
    Property Style: Duplex Other
    Zip Code: 55404
    Neighborhood/Area: 54
    Subdivision Name: Gales 1st Add

    Interior

    Bedrooms: 12
    Bathrooms: 4
    Finished Area: 3,124 ft2
    Living Area: 3,124 ft2
    Basement Details:
    • Block
    • Unfinished

    Exterior

    Stories: Two
    Garage Spaces: 0
    Foundation Size: 1,562 ft2
    Handicap Accessible: None
    Heating System:
    • Boiler
    • Steam
    Parking Features:
    • Assigned
    • Concrete
    • Open
    • Shared Driveway

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.11
    Geolocation: 44.955725, -93.253265
    Lot Dimensions: 84.5 x 58

    Schools

    School District: 1
    District Phone: 6126680000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $550
    Annual Fuel Expense: $3,000
    Annual Insurance Expense: $3,700
    Annual Maintenance Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: $4,000
    Tenant Expenses: Cable TV, Electricity, Fuel

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $9,147
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $9,147

    Income

    Annual Gross Income: $69,600

    Units

    Total Units: 4

    Miscellaneous

    Fuel System: Natural Gas
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

    Mortgage Calculator

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    Payment:  /mo

    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!

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    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.