For Sale: Minneapolis MLS# 6722031
Active
NEW!
$565,000
Multi-family: 2 Stories
8 br • 4 ba • Built 1979
3,220 sqft • 0.21 acres
MLS# 6722031
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Property Description
Rare Cash-Flow Opportunity with 3.375% Assumable Financing option! This updated side-by-side duplex in SE Minneapolis has been refreshed and is ready for your portfolio. Both units feature renovated kitchens, updated finishes, and fresh paint throughout.
Unit 1040: Currently leased through August, 2026 at $1, 900/mo.
Unit 1042: Vacant and move-in ready (prior rent $2, 400/mo).
Upside exists for an owner-occupant looking to house-hack or an investor seeking stable, high-yield returns near the U of M.
Showings: 1042 (vacant) available for first showings; 1040 (occupied) available for second showings.
Updates: Asphalt roof replaced (2023), flat roof replaced (2024), new decking (2024), 1040 side new furnace (2025), 1040 side new water heater (2025), 1042 side new furnace (2021), 1042 side new water heater (2021), 1040 side new washer/dryer (2024).
Listing
Listing Status:
Active
Contingency:
None
List Price:
$565,000
Price per sq ft:
$175
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
1
County:
Hennepin
Year Built:
1979
State:
MN
Property Style:
2 Stories
Zip Code:
55414
Neighborhood/Area:
14
Subdivision Name:
Elwells 2nd Add
Interior
Bedrooms:
8
Bathrooms:
4
Finished Area:
3,220 ft2
Living Area:
3,220 ft2
Refrigerators:
Two
Basement Details:
Block
Exterior
Stories:
Two
Garage Spaces:
1
Garage Size:
175 ft2
Foundation Size:
1,556 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
Driveway - Other Surface
Road Frontage:
City Street
Roof Details:
Asphalt
Lot & Land
Acres:
0.21
Geolocation:
44.989105, -93.232931
Lot Dimensions:
70 x 132
Lot Description:
Tree Coverage - Medium
Schools
School District:
558
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
None
Annual Maintenance Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$8,806
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$8,806
Income
Annual Gross Income:
$51,600
Units
Total Units:
2
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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 Pemberton RE.
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.