For Sale: Minneapolis MLS# 7105774
Active
$790,000
Multi-family: Fourplex
12 br • 6 ba • Built 1892
4,828 sqft • 0.17 acres
Minneapolis schools
MLS# 7105774
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Property Description
If you're looking to grow your investment portfolio or break into multifamily ownership through house hacking, this 4-unit property is worth a closer look. Located just minutes from downtown Minneapolis, this building offers a strong unit mix with two 3-bedroom units, one 2-bedroom unit, and one spacious 4-bedroom, 2-bath unit.
The property is currently generating $108, 000 in annual rental income with the following rents:
Unit 1: 2 bed, 1 bath - $1, 900/month ($22, 800/year)
Unit 2: 3 bed, 1 bath - $1, 900/month ($22, 800/year)
Unit 3: 3 bed, 2 bath - $2, 500/month ($30, 000/year)
Unit 4: 4 bed, 2 bath - $2, 700/month ($32, 400/year)
All four units are currently occupied with tenants participating in the Housing Choice Voucher (Section 8) program. The 4-bedroom unit is expected to become available, creating an excellent opportunity for an owner-occupant to house hack while the other three units help offset the mortgage, or for an investor to lease it at market rent.
The two upper units feature two-level floor plans with two bathrooms and updated kitchens. Each unit has its own furnace and dedicated water heater, and tenants pay their own gas and electric, helping reduce owner expenses. An oversized 2-car garage and additional off-street parking add even more value.
The property is currently self-managed, with operating expenses available upon request. For qualified buyers, the sellers are also open to a Contract for Deed through their preferred lender with a minimum 20% down payment, subject to lender approval and mutually agreeable terms.
Whether you're adding another cash-flowing property to your portfolio or looking for a smart way to live in one unit while the others help pay the mortgage, this is a rare multifamily opportunity in a convenient Minneapolis location.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$790,000
Price per sq ft:
$164
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
2
County:
Hennepin
Year Built:
1892
State:
MN
Property Style:
Fourplex
Zip Code:
55404
Neighborhood/Area:
63
Subdivision Name:
G N Merriams Add
Interior
Bedrooms:
12
Bathrooms:
6
Finished Area:
4,828 ft2
Living Area:
4,828 ft2
Refrigerators:
Four, One Per Unit
Basement Details:
- Partial
- Unfinished
Exterior
Stories:
More Than 2 Stories
Garage Spaces:
2
Garage Dimensions:
20x24
Garage Size:
480 ft2
Foundation Size:
1,884 ft2
Fencing:
Chain Link, Partial
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Forced Air
Parking Features:
- Asphalt
- Detached Garage
- Parking Lot
- Paved Lot
Shared Amenities:
Laundry
Road Frontage:
City Street
Pool:
None
Roof Details:
- Asphalt
- Pitched
Rooms
Laundry:
- Common Area
- Main Level
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.17
Geolocation:
44.960315, -93.266744
Lot Dimensions:
58 x 124
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$7,400
Annual Maintenance Expense:
None
Annual Trash Expense:
$700
Annual Water/Sewer Expense:
$4,200
Tenant Expenses:
Electricity, Gas
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$14,227
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$14,227
Income
Annual Gross Income:
$112,800
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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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 Pemberton RE.
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.