For Sale: Minneapolis MLS# 7120659
Active
NEW!
$409,900
Multi-family: Duplex Up and Down
6 br • 2 ba • Built 1989
2,079 sqft • 0.05 acres
Minneapolis schools
MLS# 7120659
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Property Description
Well-maintained, fully occupied duplex in a prime University of Minnesota location offering immediate cash flow and strong long-term investment potential. Both units are leased with a current gross rental income of $3, 325 per month ($39, 900 annually). The property has a solid operating history, stable tenants, and presents an excellent opportunity for investors seeking a turnkey rental. Future upside exists through cosmetic updates and potential rent growth while benefiting from immediate income from day one. Conveniently located near the University of Minnesota, public transportation, restaurants, and shopping.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$409,900
Price per sq ft:
$197
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1989
State:
MN
Property Style:
Duplex Up and Down
Zip Code:
55414
Neighborhood/Area:
50
Subdivision Name:
Clara E Fuller Add
Interior
Bedrooms:
6
Bathrooms:
2
Finished Area:
2,079 ft2
Living Area:
2,079 ft2
Refrigerators:
Two
Basement Details:
- Block
- Finished
Exterior
Stories:
Split Entry (Bi-Level)
Garage Spaces:
0
Foundation Size:
1,039 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Radiant
Parking Features:
Paved Lot
Shared Amenities:
- Coin-op Laundry Owned
- Laundry
- Other
Road Frontage:
City Street
Roof Details:
Other
Rooms
Laundry:
Common Area
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.05
Geolocation:
44.987793, -93.238782
Lot Dimensions:
42.5 x 50
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
$2,725
Annual Electric Expense:
$625
Annual Fuel Expense:
None
Annual Insurance Expense:
$2,760
Annual Maintenance Expense:
$2,015
Annual Trash Expense:
None
Annual Water/Sewer Expense:
$1,110
Tenant Expenses:
Broadband, Cable TV, Electricity
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$5,592
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
None
Income
Annual Gross Income:
$29,790
Rent
Annual Net Income:
$12,644
Units
Total Units:
2
Miscellaneous
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer - In Street
Water System:
City Water - In Street
Power Company Name:
Xcel Energy
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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 Coldwell Banker Realty - Southwest Regional.
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.