For Sale: Minneapolis MLS# 7086283
Active
NEW!
$499,900
Commercial: 2 Stories
4 br • 4 ba • Built 1948
0.14 acres
Minneapolis schools
MLS# 7086283
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Property Description
Unique mixed-use property located in Diamon Lake! This beautiful stone and stucco building offers the perfect combination of residential living and income-producing commercial space, each with its own private entrance.
The residential side welcomes you with a spacious living room with wood-burning fireplace. The large kitchen features abundant countertop space, ample cabinetry, stainless steel appliances, and storage. A convenient half bath completes the main level, while the impressive addition provides generous dining and family room spaces. Upstairs, you'll find four spacious bedrooms and a full bathroom. The finished lower level offers laundry and extensive storage. Outside, enjoy a fenced backyard and a detached two-car garage.
The commercial side is currently occupied by long-term chiropractic and massage therapy tenant, providing established rental income. The main level includes a reception area and waiting room, four private treatment rooms and storage. The lower level expands the space with three additional massage rooms, an office, 3/4 bath and ample storage.
Ideally located just steps from Todd Park and close to popular restaurants, shopping, and grocery stores, this versatile property offers endless possibilities for investors or owner-occupants in one of Minneapolis's most convenient neighborhoods.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$499,900
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
2
County:
Hennepin
Year Built:
1948
State:
MN
Property Style:
2 Stories
Zip Code:
55417
Neighborhood/Area:
17
Subdivision Name:
Park Ave Terrace
Interior
Bedrooms:
4
Bathrooms:
4
Refrigerators:
Two
Appliances Included:
- Dishwasher
- Dryer
- Range
- Refrigerator
- Washer
Basement Details:
- Full
- Partially Finished
Exterior
Stories:
Two
Garage Spaces:
2
Garage Dimensions:
22' x 24'
Garage Size:
536 ft2
Air Conditioning:
Central Air, Ductless Mini-Split
Foundation Size:
1,854 ft2
Foundation Dimensions:
36'3" x 15'9"
Fencing:
Full, Wood
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Ductless Mini-Split
- Fireplace(s)
Parking Features:
Detached Garage
Unit Amenities:
- Hardwood Floors
- In-Ground Sprinkler
- Kitchen Center Island
- Kitchen Window
Road Frontage:
City Street
Pool:
None
Roof Details:
- Age 8 Years or Less
- Asphalt
- Rubber
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.14
Geolocation:
44.902002, -93.263087
Inclusions:
Building, Land
Lot Dimensions:
50 x 124
Zoning:
- Business/Commercial
- Residential-Single Family
Lot Description:
- Public Transit (w/in 6 blks)
- Tree Coverage - Light
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Electric Expense:
$5,628
Annual Fuel Expense:
$1,860
Annual Insurance Expense:
$2,948
Annual Maintenance Expense:
$1,440
Annual Trash Expense:
$1,560
Annual Water/Sewer Expense:
$1,560
Tenant Expenses:
Broadband
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$8,683
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$8,683
Income
Annual Gross Income:
$59,400
Rent
Annual Net Income:
$34,264
Units
Total Units:
2
Miscellaneous
Current Use:
- Professional/Office
- Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Welcome Home Productions, LLC.
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.