For Sale: Minneapolis MLS# 7060338
Active
NEW!
$550,000
Multi-family: Fourplex
4 br • 4 ba • Built 1912
2,652 sqft • 0.12 acres
Minneapolis schools
MLS# 7060338
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Property Description
Four unit brick apartment building on the Lyndale corridor where Whittier meets the Wedge, a steady South Minneapolis rental pocket. Blocks to LynLake, the Midtown Greenway and Eat Street, minutes to Uptown, the lakes and downtown.
Built in 1912, all one bedroom units, two per floor over a full basement, with off street parking in the rear.
Six figures have gone into the mechanicals over the past five years, so the big ticket items are handled.
New combination boiler and water heater in each unit (2024), updated electrical panels, gas and electric separately metered with no house meters, and water, sewer and trash billed back through RUBS, so the owner has low utility costs.
On site laundry is owned, not leased, and currently free to tenants.
Three units leased, one month to month, a fit for an owner occupant in one unit or an investor adding a stabilized, professionally managed building.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$550,000
Price per sq ft:
$207
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1912
State:
MN
Property Style:
Fourplex
Zip Code:
55408
Neighborhood/Area:
84
Subdivision Name:
Hoblitts Add
Interior
Bedrooms:
4
Bathrooms:
4
Finished Area:
2,652 ft2
Living Area:
2,652 ft2
Basement Details:
Block
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,326 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
Parking Lot
Shared Amenities:
Laundry
Exterior Material:
Brick
Rooms
Laundry:
- Common Area
- In Basement
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.12
Geolocation:
44.954134, -93.287632
Lot Dimensions:
45 x 118
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, Heat, Hot Water, Sewer, Trash Collection, Water
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$9,743
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$9,743
Income
Annual Gross Income:
$54,264
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
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 MRG Realty Partners, 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.