For Sale: Minneapolis MLS# 7079275
Active
$849,900
Multi-family: Triplex
10 br • 8 ba • Built 2005
4,900 sqft • 0.13 acres
Minneapolis schools
MLS# 7079275
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Property Description
A rare turnkey 2005-built fourplex, legally non-conforming, in one of Minneapolis's most in-demand rental submarkets — this property offers investors a stabilized asset with strong, consistent rents across all four units. The property has had zero vacancies in five years, and strong tenant quality and rental history make it a proven income producer from day one, not a projection. Current gross rents total $7, 650 per month, or $91, 800 annually. There's also a clear value-add lever: water can be separately metered so tenants cover their own usage, immediately improving NOI. Built in 2005, the property is newer construction than most of the surrounding rental stock, meaning lower near-term capex risk on major systems, and all four units feature modern kitchens, updated baths, and in-unit laundry — amenities that support premium rents and tenant retention. Located within walking distance to Uptown's restaurants, retail, and transit, the property benefits from the kind of walkability that keeps this submarket in consistent demand and supports long-term appreciation. With stabilized cash flow and a clear expense-reduction opportunity, this non-conforming fourplex offers rare in-place income in one of Uptown's tightest rental markets.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$849,900
Price per sq ft:
$173
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
3
County:
Hennepin
Year Built:
2005
State:
MN
Property Style:
Triplex
Zip Code:
55408
Neighborhood/Area:
48
Subdivision Name:
Bakers Add
Interior
Bedrooms:
10
Bathrooms:
8
Finished Area:
4,900 ft2
Living Area:
4,900 ft2
Refrigerators:
Four
Basement Details:
- Block
- Egress Window(s)
- Finished
Exterior
Stories:
Two
Garage Spaces:
3
Garage Dimensions:
20x30
Garage Size:
600 ft2
Foundation Size:
1,800 ft2
Fencing:
None
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
Detached Garage
Shared Amenities:
None
Road Frontage:
City Street
Pool:
None
Roof Details:
Age Over 8 Years
Rooms
Laundry:
In Unit
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.13
Geolocation:
44.93893, -93.284707
Lot Dimensions:
45 x 129
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$440
Annual Fuel Expense:
None
Annual Insurance Expense:
$6,138
Annual Maintenance Expense:
$1,650
Annual Trash Expense:
$1,386
Annual Water/Sewer Expense:
$4,067
Tenant Expenses:
Other
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$14,668
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$14,668
Income
Annual Gross Income:
$91,800
Misc. Annual Income:
None
Misc. Monthly Income:
None
Units
Total Units:
3
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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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 Real Broker, 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.