For Sale: Minneapolis MLS# 6636260
Active
$360,000
Multi-family: Duplex Up and Down
Built 1904
2,010 sqft • 0.19 acres
Minneapolis schools
MLS# 6636260
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Property Description
This large 2-unit duplex on an oversized corner lot is a fantastic investment opportunity! Both units are fully occupied with long-term Leases, and it meets the 1 percent rule making it a smart choice for investors. The main level unit is 4 bed 1 bath and is currently leased for $1, 995.00 a month. The upper unit is a 3 bed 1 bath and is currently leased for $1, 550.00 a month. In total this is 7 beds and 2 baths with a total current rental income of $3, 545.00 a month. The owner pays for City Water/Sewer and Trash service at an average cost of $275.00 a month. The Electric and Natural Gas utilities are metered separately and paid for by the Tenants. The property features recently refinished hardwood floors throughout, giving it a warm and inviting feel. The main level unit includes a washer and dryer in the unfinished basement, The unfinished basement also has a separate exterior entrance door "Great added value potential" with the possibility to add another unit or add more finished beds and bath for the main floor unit. The property has updated vinyl windows, a fenced yard, and a 2-stall garage with ample parking adding to the property's appeal. The location is ideal with easy access to the bus line and just a 10-minute drive downtown.
Donâ??t miss this opportunity to own a well-maintained fully occupied cash flowing duplex in a great area. Contact us today to schedule a showing!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$360,000
Price per sq ft:
$179
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
2
County:
Hennepin
Year Built:
1904
State:
MN
Property Style:
Duplex Up and Down
Zip Code:
55412
Neighborhood/Area:
Lind - Bohanon
Subdivision Name:
S W Ponds Add
Interior
Finished Area:
2,010 ft2
Living Area:
2,010 ft2
Ranges:
Two
Refrigerators:
Two
Basement Details:
Unfinished
Exterior
Stories:
Two
Garage Spaces:
2
Garage Dimensions:
20x24
Garage Size:
480 ft2
Foundation Size:
655 ft2
Foundation Dimensions:
30.5x21.5
Fencing:
Chain Link
Handicap Accessible:
None
Heating System:
- Baseboard
- Forced Air
Parking Features:
Detached
Exterior Material:
Other
Roof Details:
Age Over 8 Years
Lot & Land
Acres:
0.19
Geolocation:
45.036532, -93.290474
Lot Dimensions:
134 x 68
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:
None
Annual Maintenance Expense:
None
Annual Gross Expense:
$3,000
Annual Trash Expense:
$1,000
Annual Water/Sewer Expense:
$2,000
Tenant Expenses:
Electricity, Gas
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$4,334
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$4,433
Income
Annual Gross Income:
$42,600
Units
Total Units:
2
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 Realty ONE Group Choice.
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.