Sold: Minneapolis MLS# 6616316
Sold
$650,000 (list price)
$695,000
Multi-family: Four Plex
Built 1916
4,576 sqft • 0.21 acres
Minneapolis schools
MLS# 6616316
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Property Description
This cash-flowing 4-plex located in South Central Minneapolis presents an exceptional opportunity to expand your portfolio.
Unit #3 is MTM and would be a great opportunity for an owner-occupant investor with almost all of the utilities being charged back to the tenants!
Large yard & parking lot with lots of extra storage available.
2/4 units are 4D program participants which reduces the property taxes by up to an estimated 40% (up to 80% if the new owner registers all 4 units in the program!)
With a limited number of 3-bedroom units available for rent in this area, you'll have strong rental demand and renters who want to stay long-term.
Listing
Listing Status:
Sold
Contingency:
None
List Price:
$650,000
Sold Price:
$695,000
Sold Date:
11/18/2024
Price per sq ft:
$142
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1916
State:
MN
Property Style:
Four Plex
Zip Code:
55409
Neighborhood/Area:
Bryant
Subdivision Name:
Fifth Ave Add
Interior
Finished Area:
4,576 ft2
Living Area:
4,576 ft2
Ranges:
Four
Refrigerators:
Four
Basement Details:
Brick/Mortar
Exterior
Stories:
Two
Garage Spaces:
0
Garage Dimensions:
0
Garage Door Height:
0
Garage Door Width:
0
Foundation Size:
2,288 ft2
Fencing:
Chain Link
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
Parking Lot
Shared Amenities:
Common Laundry
Exterior Material:
Stucco
Roof Details:
Flat
Lot & Land
Acres:
0.21
Geolocation:
44.932871, -93.268486
Lot Dimensions:
75 x 122
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:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Tenant Expenses:
Electricity, Fuel, Gas, Sewer, Trash Collection
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$7,257
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$7,257
Income
Annual Gross Income:
$72,360
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.
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!
Listing provided by RMLS,
courtesy of MRG Realty Partners, LLC.
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.