For Sale: Minneapolis MLS# 6631730
Active
$600,000
Multi-family: Four Plex
Built 1912
2,652 sqft • 0.12 acres
Minneapolis schools
MLS# 6631730
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Property Description
This cash-flowing 4-plex, situated on Lyndale Avenue between the Lowry Hill East and Whittier neighborhoods, offers an exceptional addition as a stabilized investment property thats been well managed.
The property has undergone over $80, 000+ of capital improvements in the past year, including four new high-efficiency boiler/water heater systems, electrical breakers, some new appliances, and preventative roof maintenance.
Start charging for laundry and parking to further boost the bottom line & NOI.
Tenants pay utilities including RUBS for Water Sewer Trash. Gas & Electric are separately metered and paid directly by tenants which keeps utility costs low for investors.
With strong rental demand for its units, 2641 Lyndale represents a strong long-term investment for owner-occupants and investors alike.
Connect with Nate for more detailed information & other off-market opportunities.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$600,000
Price per sq ft:
$226
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1912
State:
MN
Property Style:
Four Plex
Zip Code:
55408
Neighborhood/Area:
Whittier
Subdivision Name:
Hoblitts Add
Interior
Finished Area:
2,652 ft2
Living Area:
2,652 ft2
Ranges:
Four
Refrigerators:
Four
Basement Details:
Block
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,326 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
Parking Lot
Exterior Material:
Brick/Stone
Roof Details:
- Age Over 8 Years
- Flat
Lot & Land
Acres:
0.12
Geolocation:
44.954134, -93.287632
Lot Dimensions:
45 x 118
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$2,025
Annual Maintenance Expense:
None
Annual Gross Expense:
None
Annual Trash Expense:
$1,617
Annual Water/Sewer Expense:
$1,710
Tenant Expenses:
Electricity, Gas, Sewer, Trash Collection
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$8,924
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$8,924
Income
Annual Gross Income:
$60,060
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Mortgage Calculator
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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.