For Sale: Minneapolis MLS# 7162268
Active
NEW!
$369,700
Multi-family: Triplex
7 br • 3 ba • Built 1889
3,175 sqft • 0.093 acres
Minneapolis schools
MLS# 7162268
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Property Description
Exceptional investment opportunity! This versatile Minneapolis triplex features 7 bedrooms, 3 bathrooms, and an active
short-term rental operation fully licensed by the City of Minneapolis. With projected annual rental income of $48, 000
through a combination of short-term and long-term tenants, this property offers flexibility and income potential for
investors.
Highlights include 7 off-street parking spaces on a concrete driveway, coin-operated basement laundry, a roof
approximately 5 years old, and updated HVAC and air conditioning approximately 3 years ago. An additional basement
bedroom offers future potential, subject to egress and applicable requirements.
Whether you're expanding your portfolio or exploring multiple rental strategies, this property presents an exciting
opportunity to invest in Minneapolis real estate!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$369,700
Price per sq ft:
$116
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1889
State:
MN
Property Style:
Triplex
Zip Code:
55407
Neighborhood/Area:
11
Subdivision Name:
D W Ellis Add
Interior
Bedrooms:
7
Bathrooms:
3
Finished Area:
3,175 ft2
Living Area:
3,175 ft2
Refrigerators:
Three
Basement Details:
Partially Finished
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,120 ft2
Fencing:
Chain Link
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
- Concrete
- Paved Lot
Road Frontage:
- City Street
- Sidewalks
Exterior Material:
- Block
- Concrete
Roof Details:
- Age 8 Years or Less
- Asphalt
Rooms
Laundry:
In Basement
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.093
Geolocation:
44.942698, -93.262995
Lot Dimensions:
123 x 33
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$1,584
Annual Fuel Expense:
$3,120
Annual Insurance Expense:
$3,455
Annual Maintenance Expense:
None
Annual Trash Expense:
$816
Annual Water/Sewer Expense:
$1,277
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$5,122
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$5,122
Income
Annual Gross Income:
$48,000
Rent
Annual Net Income:
$37,040
Units
Total Units:
3
Miscellaneous
Fuel System:
Natural Gas
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
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!
Listing provided by RMLS,
courtesy of LPT Realty, 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.