For Sale: Minneapolis MLS# 7032128
Active
NEW!
$725,000
Multi-family: Four Plex
8 br • 4 ba • Built 1911
3,456 sqft • 0.14 acres
MLS# 7032128
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Property Description
Fully Renovated Fourplex | Turn-Key Investment Opportunity | Prime South Minneapolis Location
Exceptional opportunity to own a recently renovated fourplex in the heart of South Minneapolis. This well-maintained multifamily property has undergone extensive interior and exterior improvements, making it a strong turn-key investment with additional value-add potential.
The exterior has been completely refreshed, Improvements include brand-new siding, exterior paint, and new upper rear windows, along with a fully rebuilt upper balcony featuring new decking and flooring. The front porch flooring has been replaced and the stucco professionally restored, preserving the property’s character while enhancing durability. Common areas have also been updated with new carpeting on the stairways.
Inside, the units have been thoughtfully remodeled, featuring new kitchens, updated bathrooms, new flooring, fresh paint, modern light fixtures, and efficient hot and cold mini-split systems. Each unit offers spacious layouts providing comfortable and functional living spaces.
Major operational feature with four 75, 000 BTU boilers, four high-capacity water heaters, four pressure tanks, updated electrical with split meters ideal management for owners.
The property sits on a generous lot with off-street parking for up to 10 vehicles, a rare amenity in this central Minneapolis location. The building also includes two separate rear entrances in addition to the main front entry, providing convenient access for residents.
There is also additional income potential, with the possibility of finishing the basement and installing coin-operated laundry machines, creating another revenue stream for investors.
Located near parks, restaurants, shopping, public transportation, and major city routes, this property offers strong rental appeal and long-term investment potential.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$725,000
Price per sq ft:
$210
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1911
State:
MN
Property Style:
Four Plex
Zip Code:
55407
Neighborhood/Area:
3
Subdivision Name:
Monroe Bros Sub Of Lts Herrick Haml
Interior
Bedrooms:
8
Bathrooms:
4
Finished Area:
3,456 ft2
Living Area:
3,456 ft2
Refrigerators:
Four
Basement Details:
- Block
- Full
Exterior
Stories:
Two
Garage Spaces:
0
Garage Dimensions:
0
Garage Door Height:
0
Garage Door Width:
0
Foundation Size:
1,728 ft2
Foundation Dimensions:
36x45x12x9x12x9x12x
Fencing:
None
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Boiler
Parking Features:
Parking Lot
Road Frontage:
City Street
Exterior Material:
- Block
- Concrete
- Post and Beam
- Stone
Roof Details:
Asphalt
Rooms
Shared Rooms:
Other
Laundry:
In Basement
Lot & Land
Acres:
0.14
Geolocation:
44.933846, -93.251635
Lot Dimensions:
0 x 0 x 0 x 0
Zoning:
Residential-Multi-Family
Lot Description:
Corner Lot
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:
$7,037
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$7,037
Income
Annual Gross Income:
$31,800
Rent
Annual Net Income:
$31,800
Units
Total Units:
4
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 National Realty Guild.
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.