Home Call Us About Login
Map Search Area Search MLS#/Addr Featured New Const. Local Info
My Account Buying Selling Title Mortgage Inspections

For Sale:  Minneapolis MLS# 7133086

My notes for this property


Add listing to my favorites (required)
Active NEW!
$300,000
/mo Edit
Multi-family:  Fourplex
7 br • 4 ba • Built 1925
3,456 sqft • 0.16 acres
Minneapolis schools
MLS# 7133086
763-576-8286
My rating:
Favorite
Ask Question
Request a Showing  
Agent
Ask the Agent℠

Ask the Agent℠

    Property inquiries submitted online are continually monitored to provide the best possible service.

    Terms & Conditions






    Thank You!

    An agent will be in contact with you soon to answer your question.

    Property Description

    Excellent value-add opportunity in North Minneapolis — now offered at a reduced price. This classic 1925 fourplex offers strong upside for an investor or contractor looking to restore a solid multifamily asset and bring it back into cash-flowing condition. The building is currently vacant, is listed on the City of Minneapolis Vacant Building Registry, and is being sold as-is. The property experienced a fire in one unit and the front entry, and remediation work has already begun. Based on available information, the majority of the remaining work appears to be smoke and cosmetic restoration rather than structural in nature. Copper plumbing has been removed, so water is currently off, creating a clear, well-defined scope of work for the next owner. Previously, the building produced solid rental income ($1, 500/mo for the 2BR units, $1, 250/mo for the 1BR unit) and featured separate furnaces and water heaters, helping keep operating expenses low. The property includes a 4-stall detached garage off the alley, offering additional income potential or tenant appeal. Prior updates included newer windows and updated bathrooms, with some units previously renovated. With the price adjustment reflecting the current condition, this is a compelling entry point for an investor with the resources to move quickly on a manageable rehab with clear upside. Buyer to verify all information, including vacant building registry requirements and timeline for release. Cash or rehab financing recommended.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $300,000
    Price per sq ft: $87
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 4
    County: Hennepin
    Year Built: 1925
    State: MN
    Property Style: Fourplex
    Zip Code: 55412
    Neighborhood/Area: 12
    Subdivision Name: Rheems Add

    Interior

    Bedrooms: 7
    Bathrooms: 4
    Finished Area: 3,456 ft2
    Living Area: 3,456 ft2
    Basement Details:
    • Full
    • Unfinished

    Exterior

    Stories: Two
    Garage Spaces: 4
    Garage Size: 640 ft2
    Foundation Size: 1,728 ft2
    Fencing: Full, Split Rail
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Forced Air
    Road Frontage: City Street
    Exterior Material: Frame
    Pool: None
    Roof Details:
    • Age Over 8 Years
    • Flat

    Rooms

    Laundry:
    • In Basement
    • Washer Hookup

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.16
    Geolocation: 45.014612, -93.30862
    Lot Dimensions: 54 x 126
    Zoning: Residential-Multi-Family
    Lot Description: Tree Coverage - Light

    Farm

    Topography: Level

    Schools

    School District: 1
    District Phone: 6126680000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: None
    Annual Maintenance Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: None

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $6,642
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $7,541

    Income

    Annual Gross Income: None

    Units

    Total Units: 4

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

    Mortgage Calculator

    Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment and loan term. Property taxes are based on the last known value for this property or 0.012 of property price when data is unavailable. Your interest rate and insurance rates will vary based on credit score, loan type, etc.
    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!

    Apply Online     Contact Eric     Subscribe to My Newsletter    

    Listing provided by RMLS, courtesy of Peritus Real Estate.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.