For Sale: Minneapolis MLS# 7105774
Active
$790,000
Multi-family: Fourplex
12 br • 6 ba • Built 1892
4,828 sqft • 0.17 acres
Minneapolis schools
MLS# 7105774
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
Great opportunity to own a 4-unit property just minutes from downtown Minneapolis. The building offers a mix of 2, 3, and 5-bedroom units, giving investors a variety of rental options. All four units are currently occupied, with tenants participating in the Housing Choice Voucher (Section 8) program. An oversized 2-car garage and additional off-street parking add to the property's appeal.
The two upper units feature two-level layouts with two bathrooms and updated kitchens. Each unit has its own furnace and dedicated water heater, and tenants pay their own gas and electric.
The 5-bedroom, 2-bath unit is expected to become available at the end of July, creating an opportunity for an owner-occupant looking to house hack or for an investor wanting added flexibility. The property is currently self-managed, and operating expense information will be provided as it becomes available.
For qualified buyers, the sellers are open to a Contract for Deed through their preferred lender with a minimum 20% down payment, subject to lender approval and mutually agreeable terms. Whether you're adding another property to your portfolio or purchasing your first multifamily property, this is an opportunity worth seeing.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$790,000
Price per sq ft:
$164
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
2
County:
Hennepin
Year Built:
1892
State:
MN
Property Style:
Fourplex
Zip Code:
55404
Neighborhood/Area:
63
Subdivision Name:
G N Merriams Add
Interior
Bedrooms:
12
Bathrooms:
6
Finished Area:
4,828 ft2
Living Area:
4,828 ft2
Refrigerators:
Four, One Per Unit
Basement Details:
- Partial
- Unfinished
Exterior
Stories:
More Than 2 Stories
Garage Spaces:
2
Garage Dimensions:
20x24
Garage Size:
480 ft2
Foundation Size:
1,884 ft2
Fencing:
Chain Link, Partial
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Forced Air
Parking Features:
- Asphalt
- Detached Garage
- Parking Lot
- Paved Lot
Shared Amenities:
Laundry
Road Frontage:
City Street
Pool:
None
Roof Details:
- Asphalt
- Pitched
Rooms
Laundry:
- Common Area
- Main Level
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.17
Geolocation:
44.960315, -93.266744
Lot Dimensions:
58 x 124
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$7,400
Annual Maintenance Expense:
None
Annual Trash Expense:
$700
Annual Water/Sewer Expense:
$4,200
Tenant Expenses:
Electricity, Gas
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$14,227
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$14,227
Income
Annual Gross Income:
$112,800
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
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 Pemberton RE.
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.