For Sale: Minneapolis MLS# 7020069
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Property Description
Five-unit building in Whittier, one of Minneapolis' highest-demand renter neighborhoods. Attractive walkable pocket just blocks from internationally recognized restaurants, Minneapolis College of Art & Design, and the local arts scene like the Minneapolis Institute of Art. With this central location close to 35W, 94, Uptown & Downtown, renters and managers have quick & easy access to the property.
Four of the units are 2BR/1BA with an in-unit washer/dryer set, granite counters, gas stove, dishwasher, and central air. The building was fully renovated to code, and the major systems have been steadily replaced in the past 10 years: All Furnaces (2018) water heaters (2020), roof (2024) and updated electrical. The fifth unit (large studio) was added in 2021. Fire sprinkler system throughout.
Two-car garage plus two off-street surface parking spots. RUBS already in place for partial utility recapture. Locking basement storage for each unit.
Owners or managers can step into place and focus on cash flow, instead of planning major repairs in the near future with a property that was renovated the right way the first time on good bones.
Great entry point for a newer investor who wants to own something that's actually been maintained & wants to maximize income.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$760,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
2
County:
Hennepin
Year Built:
1912
State:
MN
Property Style:
Other
Zip Code:
55404
Neighborhood/Area:
84
Subdivision Name:
Hansons Twenty Fourth St Rgt
Exterior
Garage Spaces:
2
Air Conditioning:
Central Air
Foundation Size:
1,900 ft2
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
- Detached Garage
- Parking Lot
Lot & Land
Acres:
0.13
Geolocation:
44.958442, -93.270581
Inclusions:
Building
Lot Dimensions:
44 x 128 x 44 x 128
Zoning:
Residential-Multi-Family
Schools
School District:
558
District Phone:
6126680000
Expenses
Tenant Expenses:
Electricity, Gas
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$12,729
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$13,123
Income
Annual Gross Income:
$80,616
Rent
Annual Net Income:
$49,821
Units
Total Units:
5
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
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 MRG Realty Partners, LLC.
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.