9 Beds
3 Baths
4,105 SqFt
9 Beds
3 Baths
4,105 SqFt
Key Details
Property Type Multi-Family
Sub Type Duplex Up and Down
Listing Status Active
Purchase Type For Sale
Square Footage 4,105 sqft
Price per Sqft $109
Subdivision Phillips West
MLS Listing ID 7075280
Bedrooms 9
Year Built 1900
Annual Tax Amount $6,406
Tax Year 2026
Contingent None
Lot Size 6,098 Sqft
Lot Dimensions 48.00 X 124.00
Property Sub-Type Duplex Up and Down
Property Description
The property combines strong functionality with excellent rental potential, making it ideal for both investors and owner-occupants seeking stable income and long-term appreciation. Spacious units, flexible layouts, and consistent tenant demand create an attractive opportunity in one of Minneapolis' most accessible neighborhoods.
Conveniently located near downtown Minneapolis, public transit, parks, restaurants, hospitals, and major employment corridors, this property offers outstanding connectivity and strong tenant appeal.
Additional 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.
The property is fully occupied with long-term tenants in place, providing stable and predictable income:
Unit 1 (5BR/2BA): $2,050/month lease through May 31, 2027
Unit 2 (3BR/1BA): $1,750/month lease through March 31, 2027
Current Gross Rental Income: $3,800/month ($45,600 annually)
Utilities:
Trash & Water: $303.35/month
Electric: $18/month
Total Average Utilities: $321.35/month ($3,856 annually)
Strong location, solid fundamentals, and future upside potential make this a compelling addition to any investment portfolio.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Rooms
Basement Crawl Space, Daylight/Lookout Windows, Drainage System, Full, Unfinished
Interior
Heating Forced Air
Fireplace No
Exterior
Parking Features Concrete, Shared Driveway, Open
Fence Chain Link
Pool None
Roof Type Age Over 8 Years,Asphalt
Building
Lot Description Public Transit (w/in 6 blks), Tree Coverage - Light
Story Two
Foundation 1180
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
New Construction false
Schools
School District Minneapolis
Others
Special Listing Condition Short Sale
Nearby Locations
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