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For Sale:  Minneapolis MLS# 7024111

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Active
$550,000
/mo Edit
Multi-family:  Triplex
9 br • 3 ba • Built 1894
3,052 sqft • 0.11 acres
MLS# 7024111
763-576-8286
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    Property Description

    Rare opportunity to acquire a tri-plex with below-market financing! 2.5% ASSUMABLE LOAN – SAVE $700-$800/MO/$9000 ANNUALLY vs today’s rates. Buyer can assume approx. $432K at 2.5% creating a dramatically lower monthly payment than current market financing. Additional income from coin-operated laundry. Major capital improvements including NEW ROOF (2025), new sewer line (2024), updated electrical, boiler and chimney brought up to code. Fully rented triplex with separate gas and electric, hardwood floors, abundant natural light, basement storage, on-site laundry, PRIVATE OFF-STREET PARKING, and a backyard space. Located 2 blocks from 66-acre Powderhorn Park (with central lake, recreational facilities and trails) and 3 miles from downtown Mpls, offers walkability to local cafes, restaurants, and shops which supports consistent tenant demand. Showings require 24 hour notice.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $550,000
    Price per sq ft: $180
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 0
    County: Hennepin
    Year Built: 1894
    State: MN
    Property Style: Triplex
    Zip Code: 55407
    Neighborhood/Area: 64
    Subdivision Name: The Erastus Byers Add

    Interior

    Bedrooms: 9
    Bathrooms: 3
    Finished Area: 3,052 ft2
    Living Area: 3,052 ft2
    Basement Details:
    • Block
    • Storage Space

    Exterior

    Stories: More Than 2 Stories
    Garage Spaces: 0
    Foundation Size: 1,166 ft2
    Handicap Accessible: None
    Heating System:
    • Baseboard
    • Boiler
    Parking Features: Shared Driveway

    Rooms

    Laundry:
    • Common Area
    • In Basement

    Lot & Land

    Acres: 0.11
    Geolocation: 44.946186, -93.261727
    Lot Dimensions: 40 x 123

    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: $6,926
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $6,926

    Income

    Annual Gross Income: $52,000
    Misc. Annual Income: None
    Misc. Monthly Income: None

    Rent

    Annual Net Income: None

    Units

    Total Units: 3

    Miscellaneous

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

    Mortgage Calculator

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    Payment:  /mo

    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!

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    Listing provided by RMLS, courtesy of Edina Realty, Inc..
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.