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For Sale:  Rochester MLS# 7159714

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Active NEW!
$649,900
/mo Edit
Multi-family:  Fourplex
8 br • 4 ba • Built 1962
3,272 sqft • 0.194 acres
Rochester schools
MLS# 7159714
763-576-8286
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    Property Description

    Completely remodeled from top to bottom, this turnkey 4-plex is an outstanding investment opportunity in the heart of Rochester! Whether you're a seasoned investor looking to expand your portfolio or a first-time buyer searching for a low-maintenance income property, this one checks all the boxes. Every major component has been updated with quality and longevity in mind, including new plumbing, electrical, boiler system, water heater, kitchens, bathrooms, and much more. All renovations were completed with the proper permits and have received occupancy approval from the City, giving buyers added confidence and peace of mind. The property features four fully occupied 2-bedroom, 1-bath units, each thoughtfully designed with its own in-unit laundry. Every apartment is served by efficient boiler heat while also offering the comfort and flexibility of an individual mini-split system with both air conditioning and heat pump functionality. Electric is individually metered, making utility management simple and efficient. Located just minutes from everything Rochester has to offer—including world-class healthcare, dining, shopping, entertainment, parks, and major employers—this property combines a prime location with extensive improvements and reliable rental income. Opportunities to purchase a fully renovated, fully occupied multifamily property of this caliber are few and far between. Schedule your showing today and see why this investment stands out from the rest!

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $649,900
    Price per sq ft: $199
    Property Type: Multi-family
    City: Rochester
    Garage Spaces: 0
    County: Olmsted
    Year Built: 1962
    State: MN
    Property Style: Fourplex
    Zip Code: 55902
    Subdivision Name: Graham Add - Torrens

    Interior

    Bedrooms: 8
    Bathrooms: 4
    Finished Area: 3,272 ft2
    Living Area: 3,272 ft2
    Refrigerators: Four
    Basement Details:
    • Block
    • Daylight/Lookout Windows
    • Egress Window(s)
    • Finished
    • Full
    • Single Tenant Access

    Exterior

    Stories: One
    Garage Spaces: 0
    Foundation Size: 1,672 ft2
    Foundation Dimensions: 28x60
    Handicap Accessible: None
    Heating System:
    • Boiler
    • Ductless Mini-Split
    Exterior Material: Block
    Roof Details: Architectural Shingle

    Rooms

    Laundry: In Unit

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.194
    Geolocation: 44.003772, -92.467798
    Lot Dimensions: 110 x 77
    Lot Description: Corner Lot

    Schools

    School District: 535
    District Phone: 5073283000
    Elementary School: Ben Franklin
    Middle School: Willow Creek
    High School: Mayo

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: $1,800
    Annual Insurance Expense: $2,400
    Annual Maintenance Expense: $1,800
    Annual Trash Expense: $600
    Annual Water/Sewer Expense: None
    Tenant Expenses: Electricity

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $6,568
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $6,568

    Income

    Annual Gross Income: $65,400

    Rent

    Annual Net Income: $57,000

    Units

    Total Units: 4

    Miscellaneous

    Fuel System: Natural Gas
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

    Mortgage Calculator

    Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment and loan term. Property taxes are based on the last known value for this property or 0.012 of property price when data is unavailable. Your interest rate and insurance rates will vary based on credit score, loan type, etc.
    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 Harbor Realty & Management Gro.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.