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For Sale:  Minneapolis MLS# 7074993

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Active NEW!
$419,900
/mo Edit
Multi-family:  Triplex
7 br • 3 ba • Built 1910
2,570 sqft • 0.12 acres
Minneapolis schools
MLS# 7074993
763-576-8286
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    Property Description

    Public Remarks: Fantastic investment opportunity in the desirable Central neighborhood of South Minneapolis! This classic triplex blends timeless character with solid income potential and long-term upside. The property features updated mechanicals, newer vinyl thermopane windows, and three income-producing units currently rented at $1, 575, $1, 590, and $1, 000 per month. Located in a highly walkable and bike-friendly area near transit, parks, restaurants, and the Midtown Greenway, this property offers strong tenant appeal and convenient access to everything South Minneapolis has to offer. Ideal for an owner-occupant seeking supplemental rental income or an investor looking for a stable multifamily asset in the urban core. Opportunity to convert currently rented nonconforming unit to conforming through the addition of an exterior staircase. Additional financial upside available through the City of Minneapolis 4D Affordable Housing Incentive Program, which can reduce property taxes by up to 40% annually if qualifying units are enrolled. Strong cash flow, classic charm, and future upside make this a compelling opportunity in one of Minneapolis’ most connected neighborhoods.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $419,900
    Price per sq ft: $163
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 0
    County: Hennepin
    Year Built: 1910
    State: MN
    Property Style: Triplex
    Zip Code: 55409
    Neighborhood/Area: 11

    Interior

    Bedrooms: 7
    Bathrooms: 3
    Finished Area: 2,570 ft2
    Living Area: 2,570 ft2
    Basement Details: Unfinished

    Exterior

    Stories: Two
    Garage Spaces: 0
    Foundation Size: 1,034 ft2
    Handicap Accessible: None
    Heating System:
    • Forced Air
    • Space Heater
    Parking Features: Concrete

    Rooms

    Laundry: In Basement

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.12
    Geolocation: 44.9374796307, -93.2723689829
    Lot Dimensions: 40 x 130

    Schools

    School District: 1
    District Phone: 6126680000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: $1,636
    Annual Maintenance Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: None

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $6,252
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $6,577

    Income

    Annual Gross Income: $50,700

    Rent

    Annual Net Income: $39,832

    Units

    Total Units: 3

    Miscellaneous

    Fuel System:
    • Electric
    • Natural Gas
    Owner Occupied: Yes
    Sewer System: City Sewer - In Street
    Water System: City Water/Connected

    Mortgage Calculator

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    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 Summit Realty LLC.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.