$485,000
Minneapolis, MN 55408
MLS# 6686223
Status: Closed
8 beds | 4 baths | 5878 sqft
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Property Description
This one-of-a-kind multi-unit property offers incredible flexibility and income potential in one of Minneapolis' most vibrant neighborhoods. Featuring two spacious units in the main building and two charming units in the converted carriage house-both with new roofs (2024), this property lives like two duplexes on a single lot! Each of the four units boasts 2 bedrooms and 1 bath, with thoughtful layouts and desirable amenities. Three reliable tenants are already in place, making this an ideal turnkey investment opportunity for both owner-occupants and investors alike. Live in one unit while generating steady rental income from the others! Nestled in Lyndale, you’ll enjoy a walkable, bike-friendly community with easy access to shops, dining, parks, and public transit. Don't miss this rare chance to own a truly unique and income-producing property in a prime Minneapolis location! Plan your tour of this new listing today!
Details
Maps
Contract Information
Owner is an Agent?: No
Auction?: No
Status: Closed
Off Market Date: 2025-03-26
Contingency: None
Current Price: $485,000
Closed Date: 2025-04-24
Original List Price: 475000
ListPrice: 475000
Sales Close Price: 485000
List Date: 2025-03-17
Office/Member Info
Association: MAAR
General Property Information
Lot Measurement: Square Feet
Multiple PIDs?: No
Waterfront Present: No
Year Built: 1885
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Lot Dimensions: 42x124
Main Floor Total SqFt: 2004
Below Grd Total SqFt: 2004
Above Ground SqFt: 3874
Total Finished Sqft: 3874.00
Foundation Size: 2004
Lot Size SqFt: 5229
Style: (MF) Other
Garage Stalls: 0
Assessment Pending: No
Bedrooms: 8
Baths Total: 4
Total SqFt: 5878
Location, Tax and Other Information
Legal Description: BLOCK 012 BAKERS 2ND ADDN TO MPLS S 36 FT OF LOT 4 AND N 6 FT OF LOT 5
Listing City: Minneapolis
Map Page: 106
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 4529
Property ID Number: 0302824130045
Tax Year: 2024
Tax Amount: 8478
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: This one-of-a-kind multi-unit property offers incredible flexibility and income potential in one of Minneapolis' most vibrant neighborhoods. Featuring two spacious units in the main building and two charming units in the converted carriage house-both with new roofs (2024), this property lives like two duplexes on a single lot! Each of the four units boasts 2 bedrooms and 1 bath, with thoughtful layouts and desirable amenities. Three reliable tenants are already in place, making this an ideal turnkey investment opportunity for both owner-occupants and investors alike. Live in one unit while generating steady rental income from the others! Nestled in Lyndale, you’ll enjoy a walkable, bike-friendly community with easy access to shops, dining, parks, and public transit. Don't miss this rare chance to own a truly unique and income-producing property in a prime Minneapolis location! Plan your tour of this new listing today!
Directions: I35W to E 31st St, W to Nicollet, S to E 33rd St, E to 1st Ave S, N to home.
Accessible
None: 1
Assessments
Assessment Balance: 0
Tax With Assessments: 8727
Assumable Loan
Not Assumable: 1
Basement
Full: 1
Unfinished: 1
Building Information
Finished SqFt Above Ground: 3874
Construction Status
Previously Owned: 1
Electric
100 Amp Service: 1
Circuit Breakers: 1
Existing Financing
Free and Clear: 1
Exterior
Stucco: 1
Fencing
None: 1
Financing Terms
Conventional: 1
Fuel
Natural Gas: 1
Heating
Boiler: 1
Forced Air: 1
Laundry
In Basement: 1
Lease Details
Land Leased: Not Applicable
Lot Description
Tree Coverage - Medium: 1
Miscellaneous Information
DP Resource: Yes
Homestead: No
Owner Pays
Sewer: 1
Trash Collection: 1
Water: 1
Ownership
Fractional Ownership: No
Parking Characteristics
None: 1
Patio, Porch and Deck Features
Patio: 1
Porch: 1
Pool Description
None: 1
Public Survey Info
Range#: 24
Section#: 03
Township#: 28
Road Frontage
City Street: 1
Road Responsibility
Public Maintained Road: 1
Roof
Age 8 Years or Less: 1
Asphalt Shingles: 1
Sellers Terms
Cash: 1
Conventional: 1
FHA: 1
VA: 1
Sewer
City Sewer/Connected: 1
Stories
Two: 1
Unit 1
Furnished?: No
Lease Expiration Date: 2025-08-31
Leased?: Yes
Unit Number: 1
Monthly Rent: 1570
Full Baths: 1
Total Rooms: 5
Annual Rent: 18840
Finished SqFt: 1204
Monthly Expense: 167
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 2
Unit Details
Total Units: 4
Water
City Water/Connected: 1
Income and Expenses
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Fuel Expense: 0
Annual Gross Expenses: 6008
Annual Gross Income: 49260
Annual Insurance Expense: 0
Annual Maintenance Expense: 0
Annual Repair Expense: 0
Annual Trash Expense: 0
Annual Water/Sewer Expense: 0
Total Annual Expenses: 6008
No. of Ranges
Four: 1
No. of Refrigerators
Four: 1
Tenant Pays
Cable TV: 1
Electricity: 1
Heat: 1
Unit 1 Appliances
Range: 1
Refrigerator: 1
Unit 1 Bath Description
Main Floor Full Bath: 1
Unit 1 Family Room Characteristics
Main Level: 1
Unit 2
Furnished?: No
Lease Expiration Date: 2025-08-31
Leased?: Yes
Unit Number: 2
Annual Rent: 18060
Finished SqFt: 1204
Full Baths: 1
Monthly Expense: 167
Monthly Rent: 1505
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 2
Total Rooms: 6
Unit 2 Appliances
Range: 1
Refrigerator: 1
Unit 2 Bath Description
Upper Level Full Bath: 1
Unit 2 Cooling
Ductless Mini-Split: 1
Unit 3
Furnished?: No
Leased?: No
Unit Number: 3
Finished SqFt: 800
Full Baths: 1
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 2
Total Rooms: 5
Unit 3 Appliances
Range: 1
Refrigerator: 1
Unit 3 Bath Description
Main Floor Full Bath: 1
Unit 3 Cooling
Central: 1
Unit 3 Family Room Characteristics
Main Level: 1
Unit 4
Furnished?: No
Lease Expiration Date: 2025-08-31
Leased?: Yes
Unit Number: 4
Annual Rent: 12360
Finished SqFt: 800
Full Baths: 1
Monthly Expense: 167
Monthly Rent: 1030
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 2
Total Rooms: 5
Unit 4 Appliances
Range: 1
Refrigerator: 1
Unit 4 Bath Description
Upper Level Full Bath: 1
Unit 4 Cooling
Central: 1
Location Tax and Other Information
House Number: 3212
Street Name: 1st
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55408
Complex/Dev/Subdivision: Bakers 2nd Add
Property Features
Accessible: None
Assumable Loan: Not Assumable
Basement: Full; Unfinished
Construction Status: Previously Owned
Electric: 100 Amp Service; Circuit Breakers
Existing Financing: Free and Clear
Exterior: Stucco
Fencing: None
Financing Terms: Conventional
Fuel: Natural Gas
Heating: Boiler; Forced Air
Laundry: In Basement
Lot Description: Tree Coverage - Medium
Owner Pays: Sewer; Trash Collection; Water
Parking Characteristics: None
Pool Description: None
Road Frontage: City Street
Road Responsibility: Public Maintained Road
Roof: Age 8 Years or Less; Asphalt Shingles
Sellers Terms: Cash; Conventional; FHA; VA
Sewer: City Sewer/Connected
Stories: Two
Tenant Pays: Cable TV; Electricity; Heat
Unit 1 Appliances: Range; Refrigerator
Unit 1 Bath Description: Main Floor Full Bath
Unit 1 Family Room Characteristics: Main Level
Unit 2 Appliances: Range; Refrigerator
Unit 2 Bath Description: Upper Level Full Bath
Unit 2 Cooling: Ductless Mini-Split
Unit 3 Appliances: Range; Refrigerator
Unit 3 Bath Description: Main Floor Full Bath
Unit 3 Cooling: Central
Unit 3 Family Room Characteristics: Main Level
Unit 4 Appliances: Range; Refrigerator
Unit 4 Bath Description: Upper Level Full Bath
Unit 4 Cooling: Central
Water: City Water/Connected
Listing Office: Keller Williams Realty Integrity Lakes
Last Updated: April - 25 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
