For Sale: Inver Grove Heights MLS# 7095881
Active
$475,000
Multi-family: Triplex
5 br • 3 ba • Built 1915
2,560 sqft • 1.247 acres
Inver Grove Hts. Community schools
MLS# 7095881
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Property Description
Rare suburban triplex in a premier Inver Grove Heights location — an exceptional find for investors seeking stable, long-term cash flow outside the city core.
This well-maintained 3-unit property sits on a spacious lot in one of the south metro's most livable communities, just minutes from the Mississippi River and surrounded by an impressive array of recreational amenities. Residents enjoy walkable access to a brand-new city park featuring a playground and splash pad, Swing Bridge Park, and a neighborhood dog park — the kind of lifestyle draw that keeps quality tenants in place year after year.
The property's long-term occupancy history speaks for itself: stable residents, consistent income, and minimal turnover. With gross monthly rents of $3, 420, this is a turnkey cash-flowing asset with no heavy lifting required from day one.
The oversized lot offers exceptional flexibility — ample space for outdoor storage, recreational vehicles, or equipment, a rare perk in suburban multifamily that tenants genuinely value and that sets this property apart from anything comparable in the area.
Triplexes in suburban locations like Inver Grove Heights almost never come to market. If you've been waiting for a multifamily opportunity that offers the stability of suburban demographics with the income profile of a true investment property, this is it.
Also available is the next-door vacant lot at 7177 River Rd. Sold separately or together.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$475,000
Price per sq ft:
$186
Property Type:
Multi-family
City:
Inver Grove Heights
Garage Spaces:
2
County:
Dakota
Year Built:
1915
State:
MN
Property Style:
Triplex
Zip Code:
55076
Interior
Bedrooms:
5
Bathrooms:
3
Finished Area:
2,560 ft2
Living Area:
2,560 ft2
Refrigerators:
Three
Basement Details:
None
Exterior
Stories:
One
Garage Spaces:
2
Garage Size:
624 ft2
Foundation Size:
2,560 ft2
Handicap Accessible:
No Stairs External, No Stairs Internal
Road Responsibility:
Public Maintained Road
Heating System:
- Boiler
- Radiator
Parking Features:
- Detached Garage
- Gravel
Shared Amenities:
Coin-op Laundry Owned
Road Frontage:
City Street
Exterior Material:
Block
Pool:
None
Roof Details:
- Flat
- Rubber
Rooms
Laundry:
Common Area
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
1.247
Geolocation:
44.84483, -93.016792
Lot Dimensions:
Irregular
Zoning:
Residential-Multi-Family
Lot Description:
- Irregular Lot
- Tree Coverage - Medium
- Underground Utilities
Farm
Topography:
Level
Schools
School District:
199
District Phone:
6513067800
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
$4,263
Annual Insurance Expense:
$3,168
Annual Maintenance Expense:
$1,970
Annual Trash Expense:
$949
Annual Water/Sewer Expense:
$695
Tenant Expenses:
Snow Removal
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$3,806
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$3,806
Income
Annual Gross Income:
$41,700
Units
Total Units:
3
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.