For Sale: Minneapolis MLS# 7035408
Active
NEW!
$295,000
Multi-family: Duplex Up and Down
6 br • 2 ba • Built 1900
2,678 sqft • 0.18 acres
MLS# 7035408
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Property Description
Rare opportunity to acquire a classic up/down duplex in the heart of Minneapolis that has been under the same ownership since 1994. Situated on a double lot with a fenced yard, this property offers both stability and long-term upside potential.
This well-laid-out duplex features two spacious units, each offering 3 bedrooms and 1 bathroom, with a total of 2, 678 finished square feet. The upper unit showcases hardwood floors and an updated kitchen, while both units offer functional layouts and the highly desirable convenience of in-unit laundry, a major draw for tenants.
The property is currently occupied by long-term tenants, providing immediate, reliable income. The main floor rents for $1, 500 per month, and the upper unit rents for $1, 650 per month. Residents pay their own electricity. Rents have not been increased to match current market levels, as ownership has prioritized tenant stability, presenting a clear opportunity for future value growth.
The stucco exterior is complemented by a pitched roof. The windows were recently replaced through the city’s lead abatement program, adding long-term value and peace of mind. The property is heated by a boiler system, with a newer boiler (~ 5 years old) and water heater (~ 6 years old), helping reduce near-term capital expenses. An unfinished attic provides additional storage, and a detached shed offers further convenience for tenants.
Located near public transit and just steps from a variety of restaurants, shopping, and neighborhood staples including Mercado Central and Ingebretsen’s, this property offers strong appeal for renters seeking convenience and walkability.
Located in a highly walkable area near Powderhorn Park, this duplex offers strong fundamentals, stable tenancy, and meaningful upside, making it a solid addition to any investment portfolio.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$295,000
Price per sq ft:
$110
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1900
State:
MN
Property Style:
Duplex Up and Down
Zip Code:
55407
Neighborhood/Area:
64
Subdivision Name:
Williams Add
Interior
Bedrooms:
6
Bathrooms:
2
Finished Area:
2,678 ft2
Living Area:
2,678 ft2
Refrigerators:
Two
Basement Details:
- Partial
- Unfinished
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,286 ft2
Fencing:
Chain Link
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Boiler
- Radiator
Parking Features:
On-Street Parking Only
Road Frontage:
City Street
Exterior Material:
Frame
Roof Details:
- Age Over 8 Years
- Asphalt
- Pitched
Rooms
Laundry:
In Unit
Lot & Land
Acres:
0.18
Geolocation:
44.947927, -93.254141
Lot Dimensions:
60 x 127
Zoning:
Residential-Multi-Family
Lot Description:
Tree Coverage - Light
Schools
School District:
558
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
$2,954
Annual Insurance Expense:
$1,613
Annual Maintenance Expense:
$996
Annual Trash Expense:
None
Annual Water/Sewer Expense:
$4,377
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$926
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$1,239
Income
Annual Gross Income:
$37,800
Misc. Annual Income:
None
Misc. Monthly Income:
None
Rent
Annual Net Income:
$25,538
Units
Total Units:
2
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Power Company Name:
Xcel Energy
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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 Peritus Real Estate.
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.