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Pending
$489,000
/mo Edit
Multi-family:  Four Plex
Built 1893
3,552 sqft0.15 acres
Minneapolis schools
MLS# 6493618
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    Property Description

    Prime Stevens Square location. NEW ROOF 2023, and newer boiler! Fully rented, 4 two-bedroom units. Month-to-month leases with rent per unit, $1100, $1100, and $1400/mo. One unit with full-year lease: $1375/mo started 2/24. Tenants pay for gas and electricity. The owner pays for heat/ water/trash. Rent includes off-street parking. Easy commute to downtown. Great investment opportunity. Both south-facing units have original tile-front fireplaces, Old-world character, and charm… nice architectural details include hardwood floors and natural woodwork around windows and doors. Potential Portfolio purchase with 1909 and 1920 Steven's Avenue, also currently listed for sale!

    Listing

    Contingency: None
    Price per sq ft: $138
    City: Minneapolis
    County: Hennepin
    State: MN
    Property Style: Four Plex
    Zip Code: 55403
    Neighborhood/Area: Steven's Square - Loring Heights
    Subdivision Name: Replat Jackson Daniel Whitney-Blks

    Interior

    Living Area: 3,552 ft2
    Ranges: Four
    Refrigerators: Four
    Basement Details: Stone/Rock

    Exterior

    Stories: Two
    Garage Spaces: 0
    Foundation Size: 1,776 ft2
    Fencing: None
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Boiler
    Parking Features: Open
    Road Frontage:
    • City Street
    • Curbs
    • Paved Streets
    • Sidewalks
    Exterior Material:
    • Brick/Stone
    • Wood Siding
    Roof Details:
    • Age Over 8 Years
    • Asphalt

    Lot & Land

    Acres: 0.15
    Geolocation: 44.96328600, -93.27494800
    Lot Dimensions: 50 x 128
    Zoning: Residential-Multi-Family
    Lot Description: Tree Coverage - Light

    Schools

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

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: None
    Annual Maintenance Expense: None
    Annual Gross Expense: $9,600
    Annual Trash Expense: None
    Annual Water/Sewer Expense: None
    Tenant Expenses: Electricity, Fuel

    Financial & Taxes

    Tax Year: 2023
    Annual Taxes: $7,922
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $7,922

    Income

    Annual Gross Income: $59,700

    Units

    Total Units: 4

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

    Mortgage Calculator

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    Local Home Mortgage Professionals

    651-253-2144
    Jason & Kim Stone
    Branch Manager & Co-Branch Manager
    Fairway Mortgage    NMLS#1018649
    Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.

    Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.

    Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
    It would be our pleasure to assist you with your home purchase!

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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 TheMLSonline.com and should be verified by the buyer.