For Sale: Minneapolis MLS# 7060719
Active
NEW!
$599,900
Multi-family: Triplex
5 br • 4 ba • Built 1900
2,872 sqft • 0.07 acres
Minneapolis schools
MLS# 7060719
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Property Description
Cash-flowing investment opportunity you've been waiting for. This rare, fully legal triplex in the heart of Uptown delivers a true 10.3% cap rate with a proven, diversified income stream. Located just blocks from the lakes in one of Minneapolis’ most walkable neighborhoods, this is a turnkey asset that performs from day one. Includes (2) 1 bedroom, 1 bath units and (1) spacious 3 bedroom, 2 bath unit, all generating strong, consistent rents. One of the two 1 bedroom unit operates as a highly successful Airbnb, averaging $2, 800 per month, with a 13 year track record and “Guest Favorite” status. (see supplements for more info) The transition is seamless with furnishings, professional photos, a dedicated cleaning company, and established systems all included so you can continue generating income immediately.
The remaining units are leased at $1, 450 and $2, 100, providing reliable long term income with room for future upside. Unit 1 (1 bedroom) is Airbnb. Unit 2 (3 bedroom) is Leased through September and Unit 3 (1 bedroom) is currently month to month. offering flexibility for an owner occupant or an investor looking to optimize returns. Extensive updates make this a true plug and play investment. Improvements include new kitchens, updated bathrooms, fresh paint throughout, a brand new roof, and a new boiler system. Most mechanicals and utilities have been updated within the past five years, helping minimize near term expenses and simplify ownership. Each unit has its own private entrance, increasing tenant appeal and flexibility. On street parking is easy and readily available, with potential to explore adding an off street space on the southeast corner of the lot with city approval. Tenant storage and laundry in the shared basement. Fully licensed and legally zoned as a triplex, which is increasingly rare in this area, this property offers both stability and long term investment confidence. Whether you are expanding your portfolio or looking for a high performing asset in a prime location, this is a standout opportunity in one of Minneapolis’ most desirable rental markets.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$599,900
Price per sq ft:
$209
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1900
State:
MN
Property Style:
Triplex
Zip Code:
55408
Neighborhood/Area:
47
Interior
Bedrooms:
5
Bathrooms:
4
Finished Area:
2,872 ft2
Living Area:
2,872 ft2
Refrigerators:
Three
Basement Details:
- Partial
- Shared Access
- Storage Space
- Unfinished
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,347 ft2
Fencing:
None
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
On-Street Parking Only
Shared Amenities:
- Common Garden
- Laundry
Road Frontage:
City Street
Exterior Material:
Stone
Pool:
None
Roof Details:
Age 8 Years or Less
Rooms
Laundry:
- Common Area
- In Basement
- Lower Level
Lot & Land
Acres:
0.07
Geolocation:
44.952114, -93.295426
Lot Dimensions:
40 x 85
Zoning:
Residential-Multi-Family
Lot Description:
- Corner Lot
- Public Transit (w/in 6 blks)
- Tree Coverage - Light
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
None
Annual Maintenance Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Tenant Expenses:
Electricity, Gas
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$9,487
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$9,487
Income
Annual Gross Income:
$76,200
Rent
Annual Net Income:
$61,800
Units
Total Units:
3
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 Edina Realty, Inc..
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.