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For Sale:  Bloomington MLS# 7120539

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Active NEW!
$575,000
/mo Edit
Multi-family:  Apartments
7 br • 4 ba • Built 1962
3,128 sqft • 0.3 acres
Bloomington schools
MLS# 7120539
763-576-8286
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    Property Description

    Take advantage of this opportunity to acquire a well-maintained four-unit apartment building in one of the Twin Cities most desirable rental markets. The property features a strong unit mix of three 2-bedroom, 1-bath apartments and one 1-bedroom, 1-bath apartment, appealing to a broad tenant base while providing dependable income potential. Major systems have already been updated, helping preserve value and reduce future capital expenditures. New roof (2023), new water heater (2024) , new dryer (2024), washer replaced (2021), exterior trim painted (2026), HVAC repairs completed, plumbing repairs completed, tree removal for improved safety and curb appeal.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $575,000
    Price per sq ft: $184
    Property Type: Multi-family
    City: Bloomington
    Garage Spaces: 2
    County: Hennepin
    Year Built: 1962
    State: MN
    Property Style: Apartments
    Zip Code: 55425
    Subdivision Name: Replat Cedar Crest

    Interior

    Bedrooms: 7
    Bathrooms: 4
    Finished Area: 3,128 ft2
    Living Area: 3,128 ft2
    Refrigerators: One Per Unit
    Basement Details:
    • Block
    • Egress Window(s)
    • Finished
    • Full

    Exterior

    Stories: Two
    Garage Spaces: 2
    Garage Size: 484 ft2
    Foundation Size: 1,564 ft2
    Fencing: Chain Link, Partial
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System:
    • Baseboard
    • Hot Water
    Parking Features:
    • Detached Garage
    • Parking Lot
    • Paved Lot
    • Storage
    Shared Amenities: Laundry
    Road Frontage:
    • City Street
    • Paved Streets
    • Storm Sewer
    Exterior Material: Block
    Pool: None
    Roof Details:
    • Age 8 Years or Less
    • Asphalt

    Rooms

    Laundry:
    • Common Area
    • Gas Dryer Hookup
    • In Basement
    • Laundry Room
    • Sink
    • Washer Hookup

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.3
    Geolocation: 44.842761, -93.248776
    Lot Dimensions: 98 x 135
    Zoning: Residential-Multi-Family
    Lot Description:
    • Corner Lot
    • Public Transit (w/in 6 blks)

    Farm

    Topography: Level

    Schools

    School District: 271
    District Phone: 9526816400

    Expenses

    Annual Caretaker Expense: $3,600
    Annual Electric Expense: $552
    Annual Fuel Expense: $2,000
    Annual Insurance Expense: $7,000
    Annual Maintenance Expense: None
    Annual Trash Expense: $3,200
    Annual Water/Sewer Expense: $1,680
    Tenant Expenses: Electricity

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $8,178
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $8,178

    Income

    Annual Gross Income: $51,600

    Units

    Total Units: 4

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected
    Power Company Name: Xcel Energy

    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.