For Sale: Minneapolis MLS# 7003036
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Property Description
Fantastic 8-unit multifamily investment opportunity in the heart of South Minneapolis—perfect for first-time investors looking to launch their portfolio or seasoned investors seeking to add a value-add property with strong upside. Current rents are well below market, offering immediate potential to increase cash flow through strategic updates and rent adjustments. The property is ideally located with quick access to major highways, making commutes throughout the Twin Cities a breeze, and is just minutes from MSP International Airport. Residents will love the proximity to neighborhood parks, local shopping, and some of South Minneapolis’ most popular restaurants and cafés, creating strong long-term rental demand. With solid fundamentals, an excellent location, and untapped income potential, this is a rare opportunity to acquire a multifamily asset in one of Minneapolis’ most sought-after rental markets. Don’t miss the chance to secure a property that offers both stability and growth.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$990,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1963
State:
MN
Property Style:
2 Stories
Zip Code:
55417
Neighborhood/Area:
82
Subdivision Name:
Novaks Add
Interior
Ceiling Height:
8-10
Flooring:
Carpet, Tile
Appliances Included:
- Range
- Refrigerator
Exterior
Stories:
Two
Garage Spaces:
0
Air Conditioning:
Wall Unit(s)
Foundation Size:
3,683 ft2
Fencing:
None
Handicap Accessible:
None
Heating System:
Radiant
Parking Features:
Parking Lot
Unit Amenities:
- Cable
- Tile Floors
Pool:
None
Roof Details:
Asphalt
Lot & Land
Acres:
0.23
Geolocation:
44.89927, -93.22618
Inclusions:
Building
Lot Dimensions:
34 x 34 x 154 x 67 x 152
Zoning:
Residential-Multi-Family
Schools
School District:
558
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
$4,800
Annual Maintenance Expense:
$5,285
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$13,014
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$13,014
Income
Annual Gross Income:
$78,180
Rent
Annual Net Income:
$35,241
Units
Total Units:
8
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Separate
- Hot Water Separate
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 Keller Williams Premier Realty Lake Minnetonka.
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.