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For Sale:  Minneapolis MLS# 7138181

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Active
$625,000
/mo Edit
Multi-family:  Fourplex
7 br • 4 ba • Built 1915
3,444 sqft • 0.13 acres
Minneapolis schools
MLS# 7138181
763-576-8286
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    Property Description

    Classic 1915 fourplex with three of four units rented and a great opportunity to add a 5th unit! The vacant unit is ready for a new tenant or an owner-occupant, making this a great fit for investors and house-hackers alike. The basement already has a kitchen and a bathroom in place and just needs to be finished to create a 2-bedroom fifth unit. The building has three 2-bedroom units and one 1-bedroom unit. Each unit has front and back entries, a living/dining room, a full bath, and a range and refrigerator. Period character runs throughout, with hardwood floors, natural woodwork, paneled doors, and historic millwork. The upper units have skylights and ceiling fans. There are very large front porches on both levels. Tenants pay their own electric, gas, heat, cable, and phone, and the owner pays trash, snow removal, and taxes. The full basement also has storage lockers for each tenant, a common washer and dryer, and daylight and egress windows. There's off-street parking for four on the concrete driveway. The lot is level, on a city street with sidewalks and streetlights, close to public transit, with fiber internet available. Conventional, FHA, and VA financing are accepted.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $625,000
    Price per sq ft: $181
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 0
    County: Hennepin
    Year Built: 1915
    State: MN
    Property Style: Fourplex
    Zip Code: 55409
    Neighborhood/Area: 40
    Subdivision Name: Mabies 2nd Add

    Interior

    Bedrooms: 7
    Bathrooms: 4
    Finished Area: 3,444 ft2
    Living Area: 3,444 ft2
    Refrigerators: Four
    Basement Details:
    • Block
    • Daylight/Lookout Windows
    • Egress Window(s)
    • Full
    • Kitchenette
    • Owner Access
    • Shared Access
    • Storage Space
    • Storage/Locker
    • Unfinished

    Exterior

    Stories: Two
    Garage Spaces: 0
    Foundation Size: 1,403 ft2
    Foundation Dimensions: 42x33
    Fencing: None
    Handicap Accessible: None
    Heating System:
    • Boiler
    • Hot Water
    Parking Features: Concrete
    Shared Amenities:
    • Concrete Floors & Walls
    • Laundry
    Road Frontage:
    • City Street
    • Curbs
    • Paved Streets
    • Sidewalks
    • Storm Sewer
    • Street Lights
    Exterior Material:
    • Block
    • Frame
    Pool: None
    Roof Details:
    • Flat
    • Rubber

    Rooms

    Laundry:
    • Common Area
    • In Basement
    • Sink

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.13
    Geolocation: 44.933166, -93.284015
    Lot Dimensions: 46 x 125
    Zoning: Residential-Multi-Family
    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: $231
    Annual Fuel Expense: None
    Annual Insurance Expense: $4,830
    Annual Maintenance Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: $3,728
    Tenant Expenses: All Utilities, Cable TV, Electricity, Fuel, Gas, Heat, Telephone

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $10,838
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $11,257

    Income

    Annual Gross Income: $52,080

    Units

    Total Units: 4

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected
    Power Company Name: Xcel Energy

    Mortgage Calculator

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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!

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