$674,999
Minneapolis, MN 55418
MLS# 7097885
7 beds | 5 baths | 4400 sqft
1 / 38
Property Description
PRICE IMPROVED 8/8 to $674,999. The 2016 renovation went to the bones: new foundation, all new electric, plumbing and HVAC, a third floor and a full basement. Three of the four units were finished high-end, and the showpiece is a two-level 3bd/2ba with its own central A/C, a loft, heated tile bath and private balcony. The 2-bedroom is vacant 8/31, so an owner occupant can move in. The fourth unit is still original, and that is where the rest of the upside starts. Both 1-bedrooms are large and convert easily to 2-bedrooms, and the existing 2-bedroom is the same floor plan, so the conversion is already proven here. The lower level has a finished bathroom, an egress window and own meter, and needs a kitchen to become a fifth unit, taking the building from 7 bedrooms to as many as 10 (buyer to verify conforming use with the City). All rents are below market and both 1-bedrooms roll to month-to-month October 1, so there is value to capture day one. Four storage units not billed, porch, deck and 8 off-street parking.
Details
Maps
Contract Information
Owner is an Agent?: No
Auction?: No
Status: Active
Contingency: None
Current Price: $674,999
Original List Price: 699900
ListPrice: 674999
List Date: 2026-07-01
Office/Member Info
Association: SPAAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1891
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Lot Dimensions: 46’x182’
Acres: 0.19
Main Floor Total SqFt: 1100
Below Grd Total SqFt: 1100
Above Ground SqFt: 3300
Total SqFt: 4400
Total Finished Sqft: 3300.00
Foundation Size: 1100
Style: (MF) Four Plex
Garage Stalls: 0
Assessment Pending: No
Bedrooms: 7
Baths Total: 5
Location, Tax and Other Information
Legal Description: LOT 007 BLOCK 020 MENAGES SUP TO EAST SIDE ADDN TO MPLS
Listing City: Minneapolis
Map Page: 92
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 3626
Property ID Number: 1102924140079
Tax Year: 2026
Tax Amount: 9933
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: PRICE IMPROVED 8/8 to $674,999. The 2016 renovation went to the bones: new foundation, all new electric, plumbing and HVAC, a third floor and a full basement. Three of the four units were finished high-end, and the showpiece is a two-level 3bd/2ba with its own central A/C, a loft, heated tile bath and private balcony. The 2-bedroom is vacant 8/31, so an owner occupant can move in. The fourth unit is still original, and that is where the rest of the upside starts. Both 1-bedrooms are large and convert easily to 2-bedrooms, and the existing 2-bedroom is the same floor plan, so the conversion is already proven here. The lower level has a finished bathroom, an egress window and own meter, and needs a kitchen to become a fifth unit, taking the building from 7 bedrooms to as many as 10 (buyer to verify conforming use with the City). All rents are below market and both 1-bedrooms roll to month-to-month October 1, so there is value to capture day one. Four storage units not billed, porch, deck and 8 off-street parking.
Directions: From Lowry Ave NE, head south on Jackson St NE to 2524, on the 2500 block between 25th and 26th Ave NE.
Accessible
None: 1
Amenities Shared
Coin-op Laundry Owned: 1
Common Laundry Facility: 1
Deck: 1
Patio: 1
Porch: 1
Assessments
Assessment Balance: 0
Tax With Assessments: 10763
Basement
Full: 1
Building Information
Finished SqFt Above Ground: 3300
Construction Materials
Frame: 1
Construction Status
Previously Owned: 1
Electric
100 Amp Service: 1
Circuit Breakers: 1
Exterior
Stucco: 1
Fencing
None: 1
Foundation
Concrete Block: 1
Fuel
Natural Gas: 1
Heating
Forced Air: 1
Laundry
Common Area: 1
In Basement: 1
Sink: 1
Lease Details
Land Leased: Not Applicable
Lock Box Type
Combo: 1
Miscellaneous Information
DP Resource: Yes
Homestead: No
Owner Pays
Sewer: 1
Trash Collection: 1
Water: 1
Ownership
Fractional Ownership: No
Parking Characteristics
Parking Lot: 1
Driveway - Shared: 1
Patio, Porch and Deck Features
Deck: 1
Porch: 1
Pool Description
None: 1
Public Survey Info
Range#: 24
Section#: 11
Township#: 29
Rental License Type
Standard: 1
Roof
Asphalt Shingles: 1
Pitched: 1
Sellers Terms
Cash: 1
Conventional: 1
FHA: 1
VA: 1
Sewer
City Sewer/Connected: 1
Unit 1
Furnished?: No
Lease Expiration Date: 2027-03-31
Leased?: Yes
Level: 2nd Level
Unit Number: 1
Monthly Rent: 1915
Full Baths: 2
Total Rooms: 6
Annual Rent: 22980
Finished SqFt: 1200
Monthly Expense: 729
No. of Units Like This: 1
Total Baths: 2
Total Bedrooms: 3
Unit Details
Total Units: 4
Water
City Water/Connected: 1
Income and Expenses
Annual Caretaker Expense: 0
Annual Electric Expense: 823
Annual Fuel Expense: 80
Annual Gross Expenses: 35009
Annual Gross Income: 66120
Annual Insurance Expense: 0
Annual Maintenance Expense: 265
Annual Net Income: 31111
Annual Repair Expense: 8283
Annual Trash Expense: 1881
Annual Water/Sewer Expense: 3272
Total Annual Expenses: 35009
No. of Ranges
Four: 1
No. of Refrigerators
Four: 1
Tenant Pays
Electricity: 1
Gas: 1
Heat: 1
Unit 1 Amenities
Balcony: 1
Ceiling Fan(s): 1
Deck: 1
Hardwood Floors: 1
Kitchen Center Island: 1
Tile Floors: 1
Unit 1 Appliances
Dishwasher: 1
Microwave: 1
Range: 1
Refrigerator: 1
Unit 1 Cooling
Central: 1
Unit 2
Furnished?: No
Lease Expiration Date: 2026-08-31
Leased?: Yes
Level: Main Level
Unit Number: 2
Annual Rent: 14880
Finished SqFt: 700
Full Baths: 1
Monthly Expense: 729
Monthly Rent: 1240
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 2
Total Rooms: 4
Unit 2 Cooling
Window: 1
Unit 3
Furnished?: No
Lease Expiration Date: 2026-09-30
Leased?: Yes
Level: Main Level
Unit Number: 3
Annual Rent: 15180
Finished SqFt: 700
Full Baths: 1
Monthly Expense: 729
Monthly Rent: 1265
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 1
Total Rooms: 4
Unit 3 Appliances
Dishwasher: 1
Range: 1
Refrigerator: 1
Unit 3 Cooling
Window: 1
Unit 4
Furnished?: No
Lease Expiration Date: 2026-09-30
Leased?: Yes
Level: 2nd Level
Unit Number: 4
Annual Rent: 13080
Finished SqFt: 700
Full Baths: 1
Monthly Expense: 729
Monthly Rent: 1090
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 1
Total Rooms: 4
Unit 4 Appliances
Dishwasher: 1
Range: 1
Refrigerator: 1
Unit 4 Cooling
Window: 1
Location Tax and Other Information
House Number: 2524
Street Name: Jackson
Street Suffix: Street
Street Direction Suffix: NE
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55418
Complex/Dev/Subdivision: Menages Sup To East Side Add
Property Features
Accessible: None
Amenities Shared: Coin-op Laundry Owned; Common Laundry Facility; Deck; Patio; Porch
Basement: Full
Construction Materials: Frame
Construction Status: Previously Owned
Electric: 100 Amp Service; Circuit Breakers
Exterior: Stucco
Fencing: None
Foundation: Concrete Block
Fuel: Natural Gas
Heating: Forced Air
Laundry: Common Area; In Basement; Sink
Lock Box Type: Combo
Owner Pays: Sewer; Trash Collection; Water
Parking Characteristics: Parking Lot; Driveway - Shared
Pool Description: None
Rental License Type: Standard
Roof: Asphalt Shingles; Pitched
Sellers Terms: Cash; Conventional; FHA; VA
Sewer: City Sewer/Connected
Tenant Pays: Electricity; Gas; Heat
Unit 1 Amenities: Balcony; Ceiling Fan(s); Deck; Hardwood Floors; Kitchen Center Island; Tile Floors
Unit 1 Appliances: Dishwasher; Microwave; Range; Refrigerator
Unit 1 Cooling: Central
Unit 2 Cooling: Window
Unit 3 Appliances: Dishwasher; Range; Refrigerator
Unit 3 Cooling: Window
Unit 4 Appliances: Dishwasher; Range; Refrigerator
Unit 4 Cooling: Window
Water: City Water/Connected
Listing Office: MRG Realty Partners, LLC
Last Updated: August - 25 - 2026
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