For Sale: Minneapolis MLS# 7107968
Active
$415,000
Multi-family: Other
6 br • 2 ba • Built 1900
2,849 sqft • 0.08 acres
Minneapolis schools
MLS# 7107968
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Property Description
Welcome to 1518 Park Ave, a turnkey investment opportunity with strong rental income potential. This duplex features two spacious two-story units, each offering 3 bedrooms and 1 bathroom, ideal for maximizing rental revenue.
Both units include kitchens and baths, in-unit laundry, central AC, and off-street parking amenities that support higher rents and tenant retention. Major updates reduce near-term expenses, including a new roof (2023) with a 5-year workmanship warranty, new furnace in Unit 1 (Feb 2024), and newer water heaters (2024 & 2025).
With strong rental comps, this property offers solid cash flow and cap rate potential. Located near downtown Minneapolis, U.S. Bank Stadium, HCMC, and the Convention Center, with easy access to transit, I-94, and 35W, ensuring consistent tenant demand.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$415,000
Price per sq ft:
$146
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1900
State:
MN
Property Style:
Other
Zip Code:
55404
Neighborhood/Area:
24
Subdivision Name:
Elliot & Abbotts Add
Interior
Bedrooms:
6
Bathrooms:
2
Finished Area:
2,849 ft2
Living Area:
2,849 ft2
Basement Details:
- Other
- Partial
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,358 ft2
Handicap Accessible:
None
Heating System:
Forced Air
Roof Details:
Age 8 Years or Less
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.08
Geolocation:
44.967428, -93.265549
Lot Dimensions:
26 x 128 x 26 x 128
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$2,195
Annual Maintenance Expense:
$2,400
Annual Trash Expense:
$1,000
Annual Water/Sewer Expense:
$1,100
Tenant Expenses:
Electricity, Fuel, Gas, Heat
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$4,971
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$4,971
Income
Annual Gross Income:
$49,200
Misc. Annual Income:
None
Misc. Monthly Income:
None
Rent
Annual Net Income:
$44,105
Units
Total Units:
2
Miscellaneous
Fuel System:
- Electric
- Natural Gas
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Power Company Name:
Xcel Energy
Mortgage Calculator
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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 Sanyu LLC.
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.