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For Sale:  Minneapolis MLS# 6685211

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Active
$614,900
/mo Edit
Multi-family:  Other
Built 1917
3,529 sqft • 0.11 acres
Minneapolis schools
MLS# 6685211
763-576-8286
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    Property Description

    An incredible opportunity awaits with this unique dual-property investment! This rare find includes two income-generating properties, offering multiple optionsâ??rent both for maximum returns or live in one while leasing the other to offset ownership costs. 2801 Oakland Ave (Zoned R5) is a beautifully updated single-family home featuring 4 bedrooms and 2 baths with modern renovations throughout. The kitchen, bathrooms, and flooring have been completely updated, while vinyl-clad replacement windows and a brand-new roof (6 months old) add long-term value. Each bedroom is equipped with electronically operated key access, adding to the ease of managing short-term rentals. The lower-level bedroom can easily serve as a family room or flex space. 627 E. 28th Street is a multi-family property with two updated 1-bedroom, 1-bath unitsâ??one on each level. Both kitchens and bathrooms have been fully renovated. Also, the unit features refurbished windows, window treatments, a new boiler, and a new roof enhancing efficiency and appeal. Both properties are turn-key and income-producing, with a proven track record of long-term and short-term rental success. Furniture is available for purchase. Additional highlights include a shared 2-car detached garage plus extra parking lot space. Whether you're an investor seeking strong rental income or a homeowner looking to supplement your mortgage, this versatile property is a must-see! Donâ??t miss out on this exceptional investment opportunityâ??schedule a tour today!

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $614,900
    Price per sq ft: $174
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 2
    County: Hennepin
    Year Built: 1917
    State: MN
    Property Style: Other
    Zip Code: 55407
    Neighborhood/Area: Phillips West
    Subdivision Name: Auditors Sub 215

    Interior

    Finished Area: 3,529 ft2
    Living Area: 3,529 ft2
    Ranges: Three
    Refrigerators: Three
    Basement Details:
    • Finished
    • Storage Space
    • Storage/Locker
    • Unfinished

    Exterior

    Stories: Two
    Garage Spaces: 2
    Garage Dimensions: 20 x 20
    Garage Size: 400 ft2
    Foundation Size: 1,506 ft2
    Fencing: Chain Link, Partial
    Handicap Accessible: None
    Heating System:
    • Baseboard
    • Boiler
    • Forced Air
    • Hot Water
    Parking Features:
    • Detached
    • Insulated Garage
    • Parking Lot
    Shared Amenities: Common Laundry
    Road Frontage: City Street
    Exterior Material: Stucco
    Roof Details: Age 8 Years or Less

    Lot & Land

    Acres: 0.11
    Geolocation: 44.951774, -93.266112
    Lot Dimensions: 114 x 41
    Zoning: Residential-Multi-Family
    Lot Description:
    • Irregular Lot
    • Public Transit (w/in 6 blks)
    • Tree Coverage - Light

    Schools

    School District: 1
    District Phone: 612-668-0000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: None
    Annual Maintenance Expense: None
    Annual Gross Expense: $26,053
    Annual Trash Expense: None
    Annual Water/Sewer Expense: $2,676

    Financial & Taxes

    Tax Year: 2024
    Annual Taxes: $8,248
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $8,248

    Income

    Annual Gross Income: $86,406

    Units

    Total Units: 3

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

    Mortgage Calculator

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    Payment:  /mo

    Listing provided by RMLS, courtesy of HomeAvenue Inc.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.