For Sale: Minneapolis MLS# 6723443
Active
$495,900
Multi-family: Four Plex
Built 1912
3,056 sqft • 0.14 acres
Minneapolis schools
MLS# 6723443
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Property Description
Discover a rare opportunity to own a well-maintained 4-unit investment property that has been lovingly cared for by the same family since 1985. Tucked away on a quiet street in the sought-after Corcoran neighborhood, this property offers the charm of residential living with quick access to Lake Street shops, restaurants, and Light Rail transit.
Each unit has seen thoughtful updates over the years, including:
Four new water heaters (2020)
Four new forced air furnaces (2020)
Modernized kitchens and bathrooms in three of the four units
In addition to its excellent condition, this property offers multiple value-add opportunities for the next owner in order to optimize rents.
The property is also enrolled in the 4D Affordable Housing Incentive Program, providing significantly reduced property taxes through 2029 — a major boost to your cash-flow.
Whether you're looking to live in one unit and rent the others or add a reliable asset to your investment portfolio, this property delivers flexibility, future upside, and enduring neighborhood appeal.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$495,900
Price per sq ft:
$162
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1912
State:
MN
Property Style:
Four Plex
Zip Code:
55407
Neighborhood/Area:
Corcoran
Subdivision Name:
Perkins Add
Interior
Finished Area:
3,056 ft2
Living Area:
3,056 ft2
Ranges:
Four
Refrigerators:
Four
Basement Details:
- Full
- Storage Space
- Unfinished
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,528 ft2
Fencing:
Chain Link
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Road Frontage:
City Street
Exterior Material:
Stucco
Roof Details:
- Flat
- Rubber
Lot & Land
Acres:
0.14
Geolocation:
44.944433, -93.239315
Lot Dimensions:
50 x 122
Zoning:
Residential-Multi-Family
Farm
Topography:
Level
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Caretaker Expense:
$2,400
Annual Electric Expense:
$311
Annual Fuel Expense:
$10
Annual Insurance Expense:
$3,689
Annual Maintenance Expense:
$9,133
Annual Gross Expense:
$26,439
Annual Trash Expense:
None
Annual Water/Sewer Expense:
$5,025
Tenant Expenses:
Cable TV, Electricity, Gas
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$1,941
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$2,238
Income
Annual Gross Income:
$60,120
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Mortgage Calculator
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Listing provided by RMLS,
courtesy of First Select.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.