For Sale: Minneapolis MLS# 6814297
Active
NEW!
$575,000
Multi-family: Four Plex
Built 1910
3,252 sqft • 0.12 acres
Minneapolis schools
MLS# 6814297
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Property Description
Beautiful 4 unit building directly across the street from Powderhorn Park, perfect for investors looking for a fully occupied space with great renters in South Minneapolis performing at just under a 9% cap rate! This property boasts tons of original charms such as pristine built-ins, exquisite woodwork, and hardwood floors throughout, along with large rooms, high ceilings, exceptional Powderhorn Park views from several rooms, and a lovely upper floor loft apartment with skylights. Your tenants will love the amenities of Powderhorn Park and the numerous restaurants, shopping, and bike trails within walking distance. This building has undergone numerous capital improvements such as newer energy efficient windows, insulation, updated electrical, and a new boiler in process. Book your showing today!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$575,000
Price per sq ft:
$177
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1910
State:
MN
Property Style:
Four Plex
Zip Code:
55407
Neighborhood/Area:
Powderhorn Park
Subdivision Name:
The Erastus Byers Add
Interior
Finished Area:
3,252 ft2
Living Area:
3,252 ft2
Basement Details:
Unfinished
Exterior
Stories:
More Than 2 Stories
Garage Spaces:
0
Foundation Size:
1,212 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Boiler
Parking Features:
Paved
Road Frontage:
City Street
Exterior Material:
Stucco
Roof Details:
Age Over 8 Years
Lot & Land
Acres:
0.12
Geolocation:
44.945419, -93.260459
Lot Dimensions:
40 x 126
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$360
Annual Fuel Expense:
$3,157
Annual Insurance Expense:
$4,080
Annual Maintenance Expense:
None
Annual Gross Expense:
$12,233
Annual Trash Expense:
$1,545
Annual Water/Sewer Expense:
$3,090
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$8,034
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$8,034
Income
Annual Gross Income:
$70,860
Misc. Monthly Income:
$85
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer - In Street
Water System:
City Water - In Street
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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 RE/MAX Results.
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.