12 Beds
6 Baths
4,828 SqFt
12 Beds
6 Baths
4,828 SqFt
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,828 sqft
Price per Sqft $163
Subdivision G N Merriams Add
MLS Listing ID 7105774
Bedrooms 12
Year Built 1892
Annual Tax Amount $14,227
Tax Year 2026
Contingent None
Lot Size 7,405 Sqft
Lot Dimensions 58x124
Property Sub-Type Fourplex
Property Description
The property is currently generating $108,000 in annual rental income with the following rents:
Unit 1: 2 bed, 1 bath - $1,900/month ($22,800/year)
Unit 2: 3 bed, 1 bath - $1,900/month ($22,800/year)
Unit 3: 3 bed, 2 bath - $2,500/month ($30,000/year)
Unit 4: 4 bed, 2 bath - $2,700/month ($32,400/year)
All four units are currently occupied with tenants participating in the Housing Choice Voucher (Section 8) program. The 4-bedroom unit is expected to become available, creating an excellent opportunity for an owner-occupant to house hack while the other three units help offset the mortgage, or for an investor to lease it at market rent.
The two upper units feature two-level floor plans with two bathrooms and updated kitchens. Each unit has its own furnace and dedicated water heater, and tenants pay their own gas and electric, helping reduce owner expenses. An oversized 2-car garage and additional off-street parking add even more value.
The property is currently self-managed, with operating expenses available upon request. For qualified buyers, the sellers are also open to a Contract for Deed through their preferred lender with a minimum 20% down payment, subject to lender approval and mutually agreeable terms.
Whether you're adding another cash-flowing property to your portfolio or looking for a smart way to live in one unit while the others help pay the mortgage, this is a rare multifamily opportunity in a convenient Minneapolis location.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Rooms
Basement Partial, Unfinished
Interior
Heating Baseboard, Forced Air
Fireplace No
Laundry Common Area, Main Level
Exterior
Parking Features Detached Garage, Asphalt, Parking Lot, Paved Lot
Garage Spaces 2.0
Fence Chain Link, Partial
Pool None
Roof Type Asphalt,Pitched
Building
Story More Than 2 Stories
Foundation 1884
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories More Than 2 Stories
New Construction false
Schools
School District Minneapolis