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For Sale:  Minneapolis MLS# 7033772

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Active NEW!
$400,000
/mo Edit
Multi-family:  Duplex Up and Down
3 br • 2 ba • Built 1906
1,920 sqft • 0.17 acres
MLS# 7033772
763-576-8286
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    Property Description

    Well-maintained duplex in a prime South Minneapolis location with strong rental income and major updates already completed. The main floor unit offers 2 bedrooms, 1 bathroom, living room, dining room, kitchen, and walkout access to a deck/patio. The upper unit features 1 bedroom, 1 bathroom, living room, dining room, and kitchen. The shared basement includes laundry, storage, and utilities, and the property also offers a shared 2-car garage and large fenced backyard. Numerous recent improvements provide peace of mind, including new roof (2024), new chimney (2024), two new boilers (2022), updated electrical (2022), two new water heaters with exhaust system (2022), new garage door (2026), shared laundry with 1 washer (new 2022) and 2 dryers (one new 2022), and new backyard fence (2022). Both units are currently tenant occupied, offering immediate income: $1, 495/month for the main unit (lease through October 2026) and $1, 200/month for the upper unit (lease through March 2027). Conveniently located near the METRO Blue Line, the Midtown Greenway, neighborhood parks, shopping, restaurants, and schools including Universal Academy Charter School and Hiawatha Collegiate High School. Great opportunity for investors or owner-occupants looking for a well-located duplex in Minneapolis.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $400,000
    Price per sq ft: $208
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 2
    County: Hennepin
    Year Built: 1906
    State: MN
    Property Style: Duplex Up and Down
    Zip Code: 55406
    Neighborhood/Area: 44
    Subdivision Name: South Side Add

    Interior

    Bedrooms: 3
    Bathrooms: 2
    Finished Area: 1,920 ft2
    Living Area: 1,920 ft2
    Basement Details:
    • Block
    • Concrete
    • Daylight/Lookout Windows
    • Owner Access
    • Shared Access
    • Storage Space

    Exterior

    Stories: Two
    Garage Spaces: 2
    Garage Size: 320 ft2
    Foundation Size: 860 ft2
    Handicap Accessible: None
    Heating System: Boiler
    Parking Features:
    • Detached Garage
    • Shared Driveway
    • Shared Garage/Stall
    Shared Amenities: None
    Roof Details:
    • Age 8 Years or Less
    • Asphalt

    Rooms

    Laundry: In Basement

    Lot & Land

    Acres: 0.17
    Geolocation: 44.95048, -93.232019
    Lot Dimensions: 157 x 48
    Zoning: Residential-Multi-Family

    Schools

    School District: 558
    District Phone: 6126680000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: $2,294
    Annual Maintenance Expense: None
    Annual Trash Expense: $960
    Annual Water/Sewer Expense: $1,200
    Tenant Expenses: Electricity, Heat, Lawn Care, Snow Removal

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $5,194
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $5,194

    Income

    Annual Gross Income: $32,340

    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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    Payment:  /mo

    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!

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    Listing provided by RMLS, courtesy of Edina Realty, Inc..
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.