For Sale: Minneapolis MLS# 6704262
Active
$995,000
Multi-family: Other
Built 1900
2,679 sqft • 0.1 acres
Minneapolis schools
MLS# 6704262
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Property Description
Discover an exceptional front-to-back multi-level duplex nestled in the vibrant heart of Stadium Village at the University of Minnesota! This renovated property, features a rear addition completed in 2010, and offers the perfect blend of modern comfort and student-friendly living.
Each of the spacious units boasts 5 inviting bedrooms, 1.75 stylish baths, and private decks perfect for relaxation. Enjoy the convenience of in-unit laundry, separate mechanical systems, and the added perk of an off-street parking spot.
The front unit (#1) is currently occupied and generates a robust rental income of $3, 020 per month, with a lease secured through August 26, 2025. The rear unit (#2) is also occupied, commanding a premium rent of $3, 820 per month, with the same lease expiration. The seller covers the water, sewer, and trash bills, while charging tenants a modest reimbursement fee of $25 per tenant per month for these essential utilities. This property stands out as a premier investment opportunity for student housing, making it an invaluable addition to any real estate portfolio. Don�??t miss out on this remarkable chance to invest in a thriving community!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$995,000
Price per sq ft:
$371
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
1
County:
Hennepin
Year Built:
1900
State:
MN
Property Style:
Other
Zip Code:
55414
Neighborhood/Area:
Prospect Park - East River Road
Subdivision Name:
Meeker Island Land & Power Co Add Rev
Interior
Finished Area:
2,679 ft2
Living Area:
2,679 ft2
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Basement Details:
- Block
- Full
- Storage Space
Exterior
Stories:
More Than 2 Stories
Garage Spaces:
1
Garage Size:
240 ft2
Foundation Size:
722 ft2
Fencing:
None
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
- Asphalt
- Assigned
- Detached
- Open
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Sidewalks
- Storm Sewer
- Street Lights
Exterior Material:
Vinyl Siding
Roof Details:
- Age Over 8 Years
- Asphalt
Lot & Land
Acres:
0.1
Geolocation:
44.969096, -93.226682
Lot Dimensions:
30 x 140
Zoning:
Residential-Multi-Family
Lot Description:
- Many Trees
- Public Transit (w/in 6 blks)
Farm
Topography:
Level
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:
$2,300
Annual Maintenance Expense:
$3,500
Annual Gross Expense:
$9,300
Annual Trash Expense:
None
Annual Water/Sewer Expense:
$3,500
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$8,243
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$8,243
Income
Annual Gross Income:
$82,080
Misc. Annual Income:
None
Misc. Monthly Income:
None
Units
Total Units:
2
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Coldwell Banker Realty.
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.