Public Remarks: Fantastic investment opportunity in the desirable Central neighborhood of South Minneapolis! This classic triplex blends timeless character with solid income potential and long-term upside. The property features updated mechanicals, newer vinyl thermopane windows, and three income-producing units currently rented at $1,575, $1,590, and $1,000 per month. Located… Read More in a highly walkable and bike-friendly area near transit, parks, restaurants, and the Midtown Greenway, this property offers strong tenant appeal and convenient access to everything South Minneapolis has to offer. Ideal for an owner-occupant seeking supplemental rental income or an investor looking for a stable multifamily asset in the urban core. Opportunity to convert currently rented nonconforming unit to conforming through the addition of an exterior staircase. Additional financial upside available through the City of Minneapolis 4D Affordable Housing Incentive Program, which can reduce property taxes by up to 40% annually if qualifying units are enrolled. Strong cash flow, classic charm, and future upside make this a compelling opportunity in one of Minneapolis’ most connected neighborhoods. Read Less
Listing courtesy of Summit Realty LLC.
Listing Snapshot
Days Online
12
Last Updated
Property Type
Triplex
Beds
7
Square Ft.
2,570
Lot Size
0.12 Acres
Year Built
1910
MLS Number
7074993
30 Days Snapshot Of 55409
$707k
+29%
(avg) sold price
13
+116%
homes sold
18
+100%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Description: "Unfinished"
Building
Finished Area Above Grade: 2570, Area: 2570, Building Area: 3604, Levels: "Two", Year Built: 1910
Garage
Spaces: 0
Heating
Heating: "Forced Air", "Space Heater"
Laundry
Description: "In Basement"
Property
Present Use: Yearly
Sewer
Sewer: "City Sewer - In Street"
Utilities
Water Source: "City Water/Connected", Fuel: "Electric", "Natural Gas"
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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings deemed reliable but not guaranteed. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Obvious Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (little black house) and detailed information about them includes the name of the listing brokers. This data is updated ten (10) times daily. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available. Listings courtesy of Regional Multiple Listing Service of Minnesota, Inc. as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information. This data is up-to-date as of . For the most current information, contact Obvious Real Estate, 612-750-1368, [email protected]
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