For Sale: Minneapolis MLS# 7129459
Active
NEW!
$699,000
Multi-family: Fourplex
4 br • 4 ba • Built 1900
2,564 sqft • 0.13 acres
Minneapolis schools
MLS# 7129459
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Property Description
Opportunity to acquire a four-unit multifamily property offering approximately 2, 564 SF of living space on a 5, 663 SF lot. Built in 1900, the property has benefited from significant capital improvements, including new windows, siding, four water heaters, and four forced air furnaces, along with recent appliance and furnishing upgrades. The property features three 1-bedroom/1-bath units and one studio, all with private entrances, updated kitchens, and flexible furnished configurations. All four units are currently occupied and operating as furnished short-term rentals through airbnb, providing an established rental history and immediate income-producing use, while offering flexibility for short, medium, or long-term rental strategies. The property presents an opportunity for both an investor seeking an established multifamily asset and an owner-occupant looking to live in one unit while generating rental income from the remaining units. Off-street parking and shared outdoor space further enhance the property's appeal.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$699,000
Price per sq ft:
$273
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1900
State:
MN
Property Style:
Fourplex
Zip Code:
55408
Neighborhood/Area:
48
Subdivision Name:
Motor Line Add
Interior
Bedrooms:
4
Bathrooms:
4
Finished Area:
2,564 ft2
Living Area:
2,564 ft2
Basement Details:
Crawl Space
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,340 ft2
Fencing:
Full, Wood
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
On-Street Parking Only
Shared Amenities:
Other
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.13
Geolocation:
44.946923, -93.283939
Lot Dimensions:
46 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:
None
Annual Maintenance Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$9,383
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$9,383
Income
Annual Gross Income:
$64,068
Rent
Annual Net Income:
$23,041
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
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 Strata Real Estate Resources.
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.