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For Sale:  Minneapolis MLS# 7073087

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Active
$509,900
/mo Edit
Multi-family:  Triplex
8 br • 3 ba • Built 1904
3,259 sqft • 0.13 acres
Minneapolis schools
MLS# 7073087
763-576-8286
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    Property Description

    Fully renovated (in 2021) Triplex in the heart of Broadway & Penn. Located in the vibrant Broadway & Penn corridor, this rebuilt triplex (Interior)) offers a rare opportunity to own a turnkey investment property surrounded by ongoing neighborhood revitalization and new development. This property has been fully gutted and rebuilt from the ground up (Interior). Major improvements include all new electrical, plumbing, ductwork, HVAC systems, water heaters, framing, insulation, drywall, leveled floors, windows, kitchens, bathrooms, finish carpentry, doors, and central air conditioning. Each unit features: Private front and rear entrances, separate utilities, individual HVAC systems for independent comfort and efficiency. The building includes three furnaces, three water heaters, and three central air units, making management simple and utility separation clean for owner-occupants or investors. Additional amenities include a shared basement with: Common laundry area and dedicated storage space for tenants. Whether you’re looking to house hack, expand your portfolio, or secure a fully renovated (Interior 2021) income property in an improving area, this triplex delivers modern systems, low maintenance, and strong long-term potential. Home is fully occupied and total rents are $5, 239 per month.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $509,900
    Price per sq ft: $156
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 0
    County: Hennepin
    Year Built: 1904
    State: MN
    Property Style: Triplex
    Zip Code: 55411
    Neighborhood/Area: 36
    Subdivision Name: Forest Heights

    Interior

    Bedrooms: 8
    Bathrooms: 3
    Finished Area: 3,259 ft2
    Living Area: 3,259 ft2
    Refrigerators: Three
    Basement Details: Unfinished

    Exterior

    Stories: More Than 2 Stories
    Garage Spaces: 0
    Foundation Size: 1,242 ft2
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Forced Air
    Shared Amenities:
    • Laundry
    • Porch
    Road Frontage: City Street
    Pool: None
    Roof Details: Age Over 8 Years

    Rooms

    Laundry: In Basement

    Lot & Land

    Acres: 0.13
    Geolocation: 45.003039, -93.306392
    Lot Dimensions: 45 x 125 x 45 x 125
    Zoning: Residential-Multi-Family
    Lot Description: Tree Coverage - Light

    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
    Tenant Expenses: All Utilities

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $10,323
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $15,747

    Income

    Annual Gross Income: $62,868
    Misc. Annual Income: None
    Misc. Monthly Income: None

    Rent

    Annual Net Income: $62,868

    Units

    Total Units: 3

    Miscellaneous

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

    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 LPT Realty, LLC.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.