For Sale: Minneapolis MLS# 6596769
Active Contingent
$664,900
Multi-family: Four Plex
Built 1912
5,280 sqft • 0.11 acres
Minneapolis schools
MLS# 6596769
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Property Description
This large 4-plex went through a full remodel in 2011 (roof, windows, mechanicals, kitchens, bathrooms, ect..), each unit has its own utility meters, mechanicals, and in-unit laundry, making this building similar to a small condo building.
Tenants pay their own Heat / Gas / Electric!
Lots of storage is available in the basement with a separate entrance in the back for convenient access.
Current rents are well below market for other 3-beds in the area, which can support an estimated 1700-1800 / M for similar units with in-unit laundry and furnace heat.
Unit 1 was converted to 4-bed unit in the past, and unit 2 could be made into a similar 4-bed unit.
The limited availability of 3- and 4-bedroom units in the area further strengthens the investment upside.
Listing
Listing Status:
Active Contingent
Contingency:
Inspection
List Price:
$664,900
Price per sq ft:
$126
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1912
State:
MN
Property Style:
Four Plex
Zip Code:
55407
Neighborhood/Area:
Powderhorn Park
Subdivision Name:
Williams Add
Interior
Finished Area:
5,280 ft2
Living Area:
5,280 ft2
Ranges:
Four
Refrigerators:
Four
Basement Details:
Block
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
2,640 ft2
Fencing:
None
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
None
Exterior Material:
- Aluminum Siding
- Brick/Stone
Roof Details:
Rubber
Lot & Land
Acres:
0.11
Geolocation:
44.944611, -93.252777
Lot Dimensions:
60.00 X 76.30
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Caretaker Expense:
$1
Annual Electric Expense:
$700
Annual Fuel Expense:
$50
Annual Insurance Expense:
$3,785
Annual Maintenance Expense:
None
Annual Gross Expense:
None
Annual Trash Expense:
$400
Annual Water/Sewer Expense:
$1
Tenant Expenses:
Electricity, Gas, Trash Collection
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$10,855
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$10,991
Income
Annual Gross Income:
$70,776
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
651-253-2144
Jason & Kim Stone
Branch Manager & Co-Branch Manager
Fairway Mortgage NMLS#1018649
Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
It would be our pleasure to assist you 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.