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For Sale:  Minneapolis MLS# 7151063

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Active NEW!
$275,000
/mo Edit
Multi-family:  Duplex Up and Down
4 br • 2 ba • Built 1898
1,700 sqft • 0.14 acres
Minneapolis schools
MLS# 7151063
763-576-8286
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    Property Description

    Welcome to this income-producing duplex! The lower unit is designed with the owner-occupant in mind. It features a spacious layout, hardwood floors, large kitchen and 2 nice porch areas. The upper unit presents an exceptional opportunity for generating income. With its separate entrance and distinct living space, it offers privacy and independence. Investors will appreciate its potential for rental income. This property recently completed MPLS lead abatement program with $40k improvements in new windows, paint projects, etc. In addition, new roof in 2019 and new garage doors installed 2023. With separate utilities, each unit offers independent control and cost management. Conveniently located in Mpls, residents will enjoy easy access to public transportation, parks, and downtown, while maintaining a peaceful neighborhood atmosphere. The property's income-generating potential, coupled with its desirable features and separate utilities, makes it an excellent investment opportunity.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $275,000
    Price per sq ft: $162
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 2
    County: Hennepin
    Year Built: 1898
    State: MN
    Property Style: Duplex Up and Down
    Zip Code: 55412
    Neighborhood/Area: 52

    Interior

    Bedrooms: 4
    Bathrooms: 2
    Finished Area: 1,700 ft2
    Living Area: 1,700 ft2
    Refrigerators: Two
    Basement Details: Partial

    Exterior

    Stories: Two
    Garage Spaces: 2
    Garage Size: 350 ft2
    Garage Door Height: 7
    Garage Door Width: 8
    Foundation Size: 989 ft2
    Handicap Accessible: None
    Heating System: Forced Air
    Parking Features: Detached Garage
    Road Frontage: City Street
    Roof Details: Asphalt

    Rooms

    Laundry:
    • Gas Dryer Hookup
    • In Basement
    • Washer Hookup

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.14
    Geolocation: 45.0161673608, -93.28963599
    Lot Dimensions: 46 x 126
    Addl Parcels: 4694
    Lot Description: Public Transit (w/in 6 blks)

    Schools

    School District: 1
    District Phone: 6126680000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: $1,500
    Annual Maintenance Expense: $1,000
    Annual Trash Expense: $500
    Annual Water/Sewer Expense: $1,500
    Tenant Expenses: Electricity, Gas

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $4,694
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $4,694

    Income

    Annual Gross Income: $36,000

    Rent

    Annual Net Income: $29,000

    Units

    Total Units: 2

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

    Mortgage Calculator

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    Payment:  /mo

    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!

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    Listing provided by RMLS, courtesy of Howard Gangestad Real Estate.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.