Pending: Minneapolis MLS# 7005444
Pending
$425,000
Multi-family: Four Plex
4 br • 4 ba • Built 1937
2,800 sqft • 0.11 acres
MLS# 7005444
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Property Description
Do not miss the opportunity to make this charming income producing 4plex yours. Priced to move, these four 1 bed 1 bath units always rent well, and are a great opportunity for long term rentals or could be fantastic for an airbnb, or furnished rentals. Units have hardwood floors and tons of natural light, and building has a newer boiler system. Located on Park Ave and Lake Street the property is a straight shot to downtown, and conveniently located near local shopping and restaurants. There are 4 garages, and storages units, one for each apartment and laundry in the basement. The property is located less than 2 miles from 3 major hospitals, so marketing to traveling nurses is a huge opportunity. There is plenty of opportunity for additional income on this property, and there's the possibility to house hack, at this price, it won't last long.
Listing
Listing Status:
Pending
Contingency:
None
List Price:
$425,000
Price per sq ft:
$152
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
4
County:
Hennepin
Year Built:
1937
State:
MN
Property Style:
Four Plex
Zip Code:
55407
Neighborhood/Area:
11
Subdivision Name:
Chicago Lake Park Add
Interior
Bedrooms:
4
Bathrooms:
4
Finished Area:
2,800 ft2
Living Area:
2,800 ft2
Refrigerators:
Four
Basement Details:
- Concrete
- Full
- Unfinished
Exterior
Stories:
Two
Garage Spaces:
4
Garage Size:
1,440 ft2
Foundation Size:
1,400 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Boiler
Parking Features:
Detached Garage
Road Frontage:
City Street
Rooms
Laundry:
- Common Area
- In Basement
Lot & Land
Acres:
0.11
Geolocation:
44.947531, -93.264788
Lot Dimensions:
40 x 119
Lot Description:
Public Transit (w/in 6 blks)
Schools
School District:
558
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
$5,500
Annual Electric Expense:
$350
Annual Fuel Expense:
None
Annual Insurance Expense:
$3,910
Annual Maintenance Expense:
$1,200
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$8,280
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$8,280
Income
Annual Gross Income:
$48,189
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 RE/MAX Results.
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.