For Sale: Minneapolis MLS# 6808463
Active
NEW!
$375,000
Multi-family: Four Plex
Built 1910
2,992 sqft • 0.12 acres
Minneapolis schools
MLS# 6808463
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Property Description
Discover a turnkey investment opportunity in the heart of Minneapolis! This well-maintained 4-unit building offers four spacious 1-bedroom, 1-bath apartments; all vacant after recent updates and ready for leasing. Units feature fresh paint, refinished hardwood floors, and updates including new cabinetry and appliances in some units. New roof in 2023 and separate gas and electric meters for all units. This property presents excellent cash flow potential with projected rents at $1, 200-$1, 400/mo. Additional highlights include four off-street parking spaces, a convenient location near downtown, highways, and transit, and plenty of value-add potential for investors looking to grow their portfolio.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$375,000
Price per sq ft:
$125
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1910
State:
MN
Property Style:
Four Plex
Zip Code:
55408
Neighborhood/Area:
Phillips West
Interior
Finished Area:
2,992 ft2
Living Area:
2,992 ft2
Basement Details:
Full
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,496 ft2
Handicap Accessible:
None
Heating System:
Hot Water
Parking Features:
- Gravel
- Open
Shared Amenities:
Porch
Road Frontage:
City Street
Exterior Material:
- Stucco
- Wood Siding
Roof Details:
Flat
Lot & Land
Acres:
0.12
Geolocation:
44.9492436036, -93.2737595579
Lot Dimensions:
42.00 X 126.00
Zoning:
Residential-Multi-Family
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:
$3,042
Annual Maintenance Expense:
None
Annual Gross Expense:
None
Annual Trash Expense:
$1,504
Annual Water/Sewer Expense:
$2,472
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$6,857
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$7,227
Income
Annual Gross Income:
None
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
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 Rize Realty.
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.