For Sale: Minneapolis MLS# 7087799
Active
NEW!
$409,900
Multi-family: Duplex Side by Side
3 br • 2 ba • Built 1954
3,072 sqft • 0.17 acres
Minneapolis schools
MLS# 7087799
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
South Minneapolis side-by-side duplex with immediate rental income, flexible occupancy, and strong house-hack potential. This one-level duplex features two separate units: the left unit is vacant and offers 2 bedrooms and 1 bathroom, while the right unit is occupied and offers 1 bedroom and 1 bathroom. The right-side tenant is currently paying $1, 500/month on a month-to-month lease and would like to stay, giving the next owner immediate income with flexibility. The tenant is also paying their own utilities, and each unit has separate air conditioning, creating better comfort and separation between the two spaces. Inside, the property offers practical layouts with bright living areas, hardwood floors, neutral finishes, functional kitchens, gas ranges, clean bathroom finishes, basement laundry/storage, and useful lower-level space. The property also includes a 2-car detached garage in the back, providing added parking, storage, or potential additional rental value. For a house-hack buyer, this is a great setup: move into the vacant 2-bedroom unit and let the rental income from the occupied 1-bedroom unit help offset the monthly payment. For an investor, it offers existing income, simple unit separation, garage utility, and long-term rental upside in a central South Minneapolis location near neighborhood amenities, parks, major roads, and everyday conveniences. Whether you’re looking to owner-occupy, build equity, or add a manageable income-producing property to your portfolio, 4240 Bloomington Ave offers flexibility, cash flow potential, and a smart path into multifamily ownership.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$409,900
Price per sq ft:
$133
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
2
County:
Hennepin
Year Built:
1954
State:
MN
Property Style:
Duplex Side by Side
Zip Code:
55407
Neighborhood/Area:
61
Subdivision Name:
Bloomington Park Add
Interior
Bedrooms:
3
Bathrooms:
2
Finished Area:
3,072 ft2
Living Area:
3,072 ft2
Refrigerators:
Two
Basement Details:
- Finished
- Full
Exterior
Stories:
One
Garage Spaces:
2
Garage Size:
576 ft2
Foundation Size:
1,536 ft2
Fencing:
Chain Link
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
Detached Garage
Exterior Material:
Block
Pool:
None
Roof Details:
Age 8 Years or Less
Rooms
Laundry:
In Unit
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.17
Geolocation:
44.925526, -93.252783
Lot Dimensions:
60 x 123 x 60 x 123
Zoning:
Residential-Multi-Family
Lot Description:
Tree Coverage - Light
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
None
Annual Maintenance Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Tenant Expenses:
All Utilities
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$7,125
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$7,125
Income
Annual Gross Income:
$18,000
Units
Total Units:
2
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
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 National Realty Guild.
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.