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$473,000  (list price)
/mo   Edit
Multi-family:  Four Plex
Built 1960
3,680 sqft
Minneapolis schools
MLS# 6002369
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    Description:   Incredible investment opportunity in South Minneapolis! 4-unit apartment building with 2 bedrooms and 1 bath for each unit. All units have their own metered electricity and shared gas so tenants pay own electricity and owner pays gas with rent adjusted accordingly. Tenant paid laundry units in lower level along with storage area. Hardwood floors in each unit along with gas stoves and updated appliances. Units and building are in good condition and all units are currently leased. 4 Garage stalls rent separately. This is a great opportunity to acquire a great income-producing property to add to your portfolio or to start one! Good cash flow possibilities!
    List Price: $473,000
    Sold Price: $510,000
    Sold Date: 08/30/2021
    Price per sqft: $129
    Property Type: Multi-family
    Listing Status: Sold
    Contingency: None
    Property Style: Four Plex
    Year Built: 1960
    Neighborhood/Area: Corcoran
    City: Minneapolis
    County: Hennepin
    State: MN
    Zip Code: 55407


    Fin Sq Ft / Living Area: 3,680 sqft
    Above Ground Living: 3,680 sqft
    Total Ranges: Four
    Total Refrigerators: Four
    Basement Details: Unfinished


    Heating System: Hot Water
    Foundation Size: 1,840 sqft
    Road Frontage: City Street
    Handicap Accessible: None
    Exterior Material: Stucco
    Garage Spaces: 4
    Roof Details: Asphalt


    Shared Rooms: Other
    Upper Level Size Sq Ft
    Unit 3 Bedroom 1  12 x 11  132 
    Unit 3 Bedroom 2  12 x 11  132 
    Unit 3 Dining Room  12 x 20  240 
    Unit 3 Kitchen  7 x 9  63 
    Unit 3 Living Room  12 x 20  240 
    Unit 4 Bedroom 1  12 x 11  132 
    Unit 4 Bedroom 2  12 x 11  132 
    Unit 4 Dining Room  7 x 7  49 
    Unit 4 Kitchen  7 x 9  63 
    Unit 4 Living Room  12 x 20  240 
    Main Level Size Sq Ft
    Unit 1 Bedroom 1  12 x 11  132 
    Unit 1 Bedroom 2  12 x 11  132 
    Unit 1 Dining Room  7 x 7  49 
    Unit 1 Kitchen  7 x 9  63 
    Unit 1 Living Room  12 x 20  240 
    Unit 2 Bedroom 1  12 x 11  132 
    Unit 2 Bedroom 2  12 x 11  132 
    Unit 2 Dining Room  7 x 7  49 
    Unit 2 Kitchen  7 x 9  63 
    Unit 2 Living Room  12 x 20  240 


    Acres: 0.14
    Latitude: 44.94626500
    Longitude: -93.24522900
    Lot Size Dim.: 50x125
    Dev/Complex Name: Minnehaha Add
    Zoning: Residential-Multi-Family


    School District: 1
    District Phone: 612-668-0000


    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: None
    Annual Maintenance Expense: None
    Annual Gross Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: None
    Tenant Expenses: Electricity, Cable TV

    Financial & Taxes

    Tax Year: 2020
    Annual Taxes: $7,942
    Assessment Pending: Unknown
    Taxes w/ Assessments: $7,942


    Annual Gross Income: $48,300


    Total Units: 4


    Fuel System: Natural Gas
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

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    Local Home Mortgage Professionals

    Justin Larson
    Loan Officer
    Movement Mortgage
    Justin, the "Mortgage Man", is a senior loan officer who works with one of the nation top mortgage companies, Movement Mortgage! Justin has a dedicate team to streamline the home loan process. As a Veteran of Operation Iraqi Freedom and Eagle Scout he has a "service to others" attitude that put him well above his peers in the mortgage industry. Honesty, trust and friendship through solid and open communication is how he has built his success in the industry. The American Dream of owning a home is one of the largest purchases of most people lives. It’s a long process that can be frustrating, scary, and really confusing. He experienced this when purchasing his first couple of homes and looking back he wished he had a friend that would take the time to educate him on the best options for him and his family. This is the driving force of why I got into this industry.

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    Listing provided by RMLS, courtesy of RE/MAX Results.
    Disclaimer: The information contained in this listing has not been verified by and should be verified by the buyer.