For Sale: Shorewood MLS# 7127386
Active
NEW!
$685,000
Multi-family: Duplex Side by Side
7 br • 4 ba • Built 1963
3,316 sqft • 0.46 acres
Minnetonka schools
MLS# 7127386
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Property Description
Rare Shorewood duplex offering an exceptional opportunity for both owner-occupants and investors. This property features two separate living spaces, strong rental income potential, and a highly desirable location in one of Lake Minnetonka’s
most sought-after communities. Live in One. Rent the Other...Own your home in Shorewood while offsetting your housing costs. Owner occupants also can appreciate the privacy and separation from the rental unit and a private wooded setting.
The larger east-side unit features three spacious upper-level bedrooms, plus a fourth egress bedroom or flexible living space in the lower level. The west-side unit offers two upper-level bedrooms, along with a third egress bedroom in the lower level. Both units have been thoughtfully updated with modern kitchens and baths, featuring fine finishes and custom cabinetry throughout. Both units have separate utility meters, plus the ever reliable electric baseboard heat in very
comfortable. additional features are large garages, fenced yards and abundant storage plus room to expand in the basements.
With well over $100, 000 in recent improvements, including a new driveway, windows, interior and exterior paint, plumbing and fixtures, insulation, tree maintenance, appliances, A/C units, and gutters. These thoughtful updates provide peace of mind and are designed to offer years of comfortable ownership with reduced maintenance and fewer major capital expenses.
The surrounding area is experiencing significant redevelopment and investment, further enhancing the property's long-term value and appeal. Whether you're looking to offset your mortgage with rental income, expand your investment portfolio, or capitalize on future growth, this is a rare opportunity in a thriving market.
With this move-in ready residence, owner occupants will appreciate the privacy and separation from the rental unit and a private wooded setting. Investors will appreciate the strong demand for housing within the highly sought-after Minnetonka
School District, along with this property’s nearly walkable location to Minnewashta Elementary. The combination of an excellent school district, convenient location, and strong rental demand makes this an attractive opportunity for investors seeking long-term value and reliable tenant appeal.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$685,000
Price per sq ft:
$207
Property Type:
Multi-family
City:
Shorewood
Garage Spaces:
4
County:
Hennepin
Year Built:
1963
State:
MN
Property Style:
Duplex Side by Side
Zip Code:
55331
Subdivision Name:
Shorewood Acres 1st Add
Interior
Bedrooms:
7
Bathrooms:
4
Finished Area:
3,316 ft2
Living Area:
3,316 ft2
Refrigerators:
Two
Basement Details:
- Block
- Drain Tiled
- Egress Window(s)
- Full
- Partially Finished
- Sump Pump
Exterior
Stories:
Two
Garage Spaces:
4
Garage Dimensions:
22x26.5
Garage Size:
1,074 ft2
Foundation Size:
1,326 ft2
Foundation Dimensions:
44x30
Fencing:
Chain Link
Handicap Accessible:
None
Heating System:
Baseboard
Parking Features:
- Asphalt
- Detached Garage
- Garage Door Opener
- Guest Parking
- Multiple Garages
Road Frontage:
City Street
Exterior Material:
- Block
- Frame
Rooms
Laundry:
- Electric Dryer Hookup
- In Basement
- In Unit
- Lower Level
- Washer Hookup
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.46
Geolocation:
44.902858, -93.605137
Lot Dimensions:
134 x 149
Lot Description:
- Corner Lot
- Tree Coverage - Light
Farm
Topography:
Wooded
Schools
School District:
276
District Phone:
9524015000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$3,700
Annual Maintenance Expense:
$1,200
Annual Trash Expense:
$360
Annual Water/Sewer Expense:
$1,440
Tenant Expenses:
All Utilities, Cable TV, Electricity, Fuel, Gas, Grounds Care, Heat, Lawn Care, Telephone, Sewer, Snow Removal, Trash Collection, Water
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$6,711
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$6,711
Income
Annual Gross Income:
$59,400
Rent
Annual Net Income:
$47,289
Units
Total Units:
2
Miscellaneous
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
Yes
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 Edina Realty, Inc..
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.