Turnkey Minneapolis Quadplex, 1% rule, Private parking, 5th unit

9 Replies

Price $665,000
Location 2XXX 1st Ave S, Minneapolis, MN, 55404
Property Details

Unit: 1

  • Current Rent: $2,000
  • Occupied: Yes
  • Bedrooms: 4
  • Bathrooms: 2.0
  • Square Footage: 1800

Unit: 2

  • Current Rent: $1,700
  • Occupied: Yes
  • Bedrooms: 5
  • Bathrooms: 2.0
  • Square Footage: 2000

Unit: 3

  • Current Rent: $1,300
  • Occupied: Yes
  • Bedrooms: 3
  • Bathrooms: 1.0
  • Square Footage: 1200

Unit: 4

  • Current Rent: $1,600
  • Occupied: No
  • Bedrooms: 3
  • Bathrooms: 1.0
  • Square Footage: 1200

I'm posting this on behalf of the seller. Will gather more information upon request.

Oversized 4 plex with a non-conforming 5th unit in the basement that has a bathroom, kitchen, and living area (would need to be rezoned into a 5 unit).

Units 1 & 2 (Upper units) are both two levels. Each unit has a loft, spiral staircase, and vaulted ceilings with skylights

Unit 1 (upper) is rehabbed and occupied

Unit 2 (upper) is occupied

Unit 3 (lower) is occupied

Unit 4 (lower) is rehabbed and vacant

All four units have built-in buffets. The property has newer siding in good condition. 

4 separate boilers and 4 separate gas and electric meters. Mechanicals were updated within the past 5-8 years and the roof was replaced about 5 years ago. 

The property also includes 8 off-street parking spaces.

If he wants to list it let me know. This would go pretty quickly.

Please PM me location (for an investor friend of mine).

This post has been removed.

@Michael Theil done!

@Richelle Bryan done!

@Jesse Copjec done!

Overal Update:  The inside of the 4plex has been demo'd and is getting ready for the beginning stages of renovation. Subsequently, the price will likewise rise as we put more money into the property.

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