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Jamie Novak

jamie@mnpremierteam.com +1(952) 607-6963

$ 396,000

Est. payment | -/mo

5 Beds

3 Baths

2,598 SqFt

Save

$ 396,000

Est. payment | -/mo

Save

5 Beds

3 Baths

2,598 SqFt

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,598 sqft

Price per Sqft $152

Subdivision Badger & Penneys 2Nd Add

MLS Listing ID 7136071

Bedrooms 5

Year Built 1909

Annual Tax Amount $7,801

Tax Year 2026

Contingent None

Lot Size 5,227 Sqft

Lot Dimensions 40 x 128

Property Sub-Type Triplex

Property Description

UPTOWN TRIPLEX, Seller Financing with 10% Down @ only 5.9% on a CONTRACT for DEED - Looking for an investment property where the financing terms may be just as interesting as the property itself? 8.7% Cap & 19.3% CoC - 5+ Bedrooms, 3 Bathrooms, 3,056 SF - Available on a Contract for Deed at 5.9% with 10% Down, 7-Year Term with Option to Extend, $2,000 Monthly Payment (P&I) - Recent improvements: 2022 - Updated Kitchens, Bathrooms, Painting & Floors refinished , 2022 -Updated Electrical inside at installed 3 separate meters, 2022 - Updated Plumbing to Kitchens & Bathrooms, 2021 - Installed new Roof & Gutters, 2015 - Updated Hot Water Heater, 2006 - Modern Boiler that has been serviced regularly - Outside, there is a private fully fenced backyard, raised garden beds, fire pit, and 4 off-street parking spots - ARV = $525K to $575K+ Rent Potential: 1st Level = 2 Bed & 1 Bath - $1,650+ / Month - (Need to Add Walls and a Door) - or - Invest More and it could be a 3 Bed with Office & 2 Bath with Family Room in Lower Level - $2,150+ / month, 2nd Level = 2 Bed & 1 Bath - $1,700+ / Month, 3rd Level = 1 Bed & 1 Bath - $1,250+ / Month need to finish Kitchen and update the flooring - Laundry Income $50+ / Month = Total Gross Rent: $4,650+ - Location is less than 2 blocks to Bus line, SK Coffee, Learning Tower of Pizza, Wedge Coop, and only 5 blocks to Eat Street Restaurants - The opportunity isn't just in what you buy, it's in how you're able to buy it that really counts - Come check it out, you will be glad you did ;-)

Location

State MN

County Hennepin

Rooms

Family Room Other

Basement Full, Other, Shared Access, Storage Space, Unfinished

Interior

Heating Boiler, Radiator

Fireplace No

Laundry In Basement, Common Area

Exterior

Parking Features Asphalt, Parking Lot

Fence Privacy, Wood

Roof Type Age 8 Years or Less,Architectural Shingle,Asphalt,Pitched

Building

Lot Description Public Transit (w/in 6 blks), Tree Coverage - Light

Story More Than 2 Stories

Foundation 1008

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories More Than 2 Stories

Structure Type Block,Concrete,Frame

New Construction false

Schools

School District Minneapolis

Listed by Martin Turner • eXp Realty

NEARBY SCHOOLS & PROPERTIES

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(952) 607-6963

jamie@mnpremierteam.com

7811 Great Plains Blvd, Chanhassen, MN 55317, USA

2317 Garfield AVE Minneapolis, MN 55405

Jamie Novak

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

NEARBY SCHOOLS & PROPERTIES

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2317 Garfield AVE