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For Sale:  Minneapolis MLS# 6622707

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Active Contingent
$525,000
/mo Edit
Multi-family:  Four Plex
Built 1900
3,468 sqft • 0.13 acres
Minneapolis schools
MLS# 6622707
763-576-8286
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    Property Description

    Now offered for sale in one of the most desirable rental neighborhoods of Minneapolis, this 4-plex offers owner occupants or investors a chance to add a prime location to their rental portfolio. All units have ??no winter move-out notice? stipulations through February 2025, so investors or owner occupants alike won??t have to worry about finding new tenants in the middle of winter. 3/4 Units are currently MTM. Many mechanical updates have been completed by the owner investing thousands in a high-efficiency boiler, water heater, electrical, and plumbing which reduces the chance of a big expense in the first few years for the new owner. Unit 3 is a large 2-bed unit which is split into 2 floors! Lots of living space demands a higher monthly rent or a great option for the work-from-home owner occupant investor. Large parking lot out back where a garage used to be gives tenants plenty of space to park, or space to create a private backyard patio. Please allow for 24-36 hour notice for showings with full occupancy. This one will go quick, so come check it out today!

    Listing

    Listing Status: Active Contingent
    Contingency: Inspection
    List Price: $525,000
    Price per sq ft: $151
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 0
    County: Hennepin
    Year Built: 1900
    State: MN
    Property Style: Four Plex
    Zip Code: 55418
    Neighborhood/Area: Windom Park
    Subdivision Name: Polk Street Sub

    Interior

    Finished Area: 3,468 ft2
    Living Area: 3,468 ft2
    Basement Details: Brick/Mortar

    Exterior

    Stories: More Than 2 Stories
    Garage Spaces: 0
    Foundation Size: 1,500 ft2
    Handicap Accessible: None
    Heating System: Hot Water
    Shared Amenities: Coin-op Laundry Leased
    Exterior Material: Steel Siding
    Roof Details:
    • Age Over 8 Years
    • Asphalt

    Lot & Land

    Acres: 0.13
    Geolocation: 45.010609, -93.244807
    Lot Dimensions: 146 x 39
    Zoning: Residential-Multi-Family

    Schools

    School District: 1
    District Phone: 612-668-0000

    Expenses

    Annual Caretaker Expense: $1
    Annual Electric Expense: $929
    Annual Fuel Expense: $2,945
    Annual Insurance Expense: $2,425
    Annual Maintenance Expense: $1
    Annual Gross Expense: $1
    Annual Trash Expense: $1
    Annual Water/Sewer Expense: $3,460
    Tenant Expenses: Cable TV, Electricity

    Financial & Taxes

    Tax Year: 2024
    Annual Taxes: $8,622
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $8,622

    Income

    Annual Gross Income: $52,620

    Units

    Total Units: 4

    Miscellaneous

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

    Mortgage Calculator

    Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment and loan term. Property taxes are based on the last known value for this property or 0.012 of property price when data is unavailable. Your interest rate and insurance rates will vary based on credit score, loan type, etc.
    Payment:  /mo

    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.
    It would be our pleasure to assist you with your home purchase!

    Apply Online     Home Purchase Qualifier     Refinance Rate Checker    

    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.