For Sale: Minneapolis MLS# 7136071
Active
NEW!
$396,000
Multi-family: Triplex
5 br • 3 ba • Built 1909
2,598 sqft • 0.12 acres
Minneapolis schools
MLS# 7136071
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Property Description
UPTOWN TRIPLEX, Seller Financing with 10% Down @ only 5.9% on a CONTRACT for DEED - Looking for an investment property where the financing terms may be just as interesting as the property itself? 8.7% Cap & 19.3% CoC - 5+ Bedrooms, 3 Bathrooms, 3, 056 SF - Available on a Contract for Deed at 5.9% with 10% Down, 7-Year Term with Option to Extend, $2, 000 Monthly Payment (P&I) - Recent improvements: 2022 - Updated Kitchens, Bathrooms, Painting & Floors refinished , 2022 -Updated Electrical inside at installed 3 separate meters, 2022 - Updated Plumbing to Kitchens & Bathrooms, 2021 - Installed new Roof & Gutters, 2015 - Updated Hot Water Heater, 2006 - Modern Boiler that has been serviced regularly - Outside, there is a private fully fenced backyard, raised garden beds, fire pit, and 4 off-street parking spots - ARV = $525K to $575K+ Rent Potential: 1st Level = 2 Bed & 1 Bath - $1, 650+ / Month - (Need to Add Walls and a Door) - or - Invest More and it could be a 3 Bed with Office & 2 Bath with Family Room in Lower Level - $2, 150+ / month, 2nd Level = 2 Bed & 1 Bath - $1, 700+ / Month, 3rd Level = 1 Bed & 1 Bath - $1, 250+ / Month need to finish Kitchen and update the flooring - Laundry Income $50+ / Month = Total Gross Rent: $4, 650+ - Location is less than 2 blocks to Bus line, SK Coffee, Learning Tower of Pizza, Wedge Coop, and only 5 blocks to Eat Street Restaurants - The opportunity isn’t just in what you buy, it’s in how you’re able to buy it that really counts - Come check it out, you will be glad you did ;-)
Listing
Listing Status:
Active
Contingency:
None
List Price:
$396,000
Price per sq ft:
$152
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1909
State:
MN
Property Style:
Triplex
Zip Code:
55405
Neighborhood/Area:
84
Subdivision Name:
Badger & Penneys 2nd Add
Interior
Bedrooms:
5
Bathrooms:
3
Finished Area:
2,598 ft2
Living Area:
2,598 ft2
Basement Details:
- Full
- Other
- Shared Access
- Storage Space
- Unfinished
Exterior
Stories:
More Than 2 Stories
Garage Spaces:
0
Foundation Size:
1,008 ft2
Foundation Dimensions:
28 x 36
Fencing:
Privacy, Wood
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Boiler
- Radiator
Parking Features:
- Asphalt
- Parking Lot
Shared Amenities:
- Common Garden
- Lobby Entrance
Road Frontage:
- City Street
- Sidewalks
- Street Lights
Exterior Material:
- Block
- Concrete
- Frame
Roof Details:
- Age 8 Years or Less
- Architectural Shingle
- Asphalt
- Pitched
Rooms
Shared Rooms:
Other
Laundry:
- Common Area
- In Basement
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.12
Geolocation:
44.9595005508, -93.2864674663
Lot Dimensions:
40 x 128
Lot Description:
- Public Transit (w/in 6 blks)
- Tree Coverage - Light
Farm
Topography:
Level
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
$683
Annual Insurance Expense:
$4,404
Annual Maintenance Expense:
$828
Annual Trash Expense:
$1,605
Annual Water/Sewer Expense:
$1,070
Tenant Expenses:
Cable TV, Electricity, Other
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$7,801
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$8,004
Income
Annual Gross Income:
$55,800
Misc. Annual Income:
$600
Misc. Monthly Income:
$50
Rent
Annual Net Income:
$34,500
Units
Total Units:
3
Miscellaneous
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Power Company Name:
Xcel Energy
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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 eXp Realty.
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.