3029 Garfield AVE, Minneapolis, MN 55408 - MLS#6624634

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Brandon Anderson

brandon@brandonanderson.com +1(612) 490-0638

$930,000

Est. payment - /mo

6,098 Sqft Lot

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UPDATED:

10/30/2024 02:06 AM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Motor Line Add

MLS Listing ID 6624634

Year Built 1960

Annual Tax Amount $12,164

Tax Year 2024

Contingent None

Lot Size 6,098 Sqft

Acres 0.14

Lot Dimensions 46' x 128'

Property Description

CONTRACT FOR DEED AVAILABLE! Fantastic investment opportunity to buy an apartment with seller-financing in the heart of Lyn-Lake! This fully renovated, fully occupied, six-unit building at 3029 Garfield offers modern, updated units with leases running through Summer of 2025. The unit mix consists of 1 x studio, and 5 x one-bedrooms. Tenants enjoy the convenience of mobile-friendly laundry and eight dedicated parking spaces. The property generates over $7,300/month, which includes revenue from rent, parking, pet fees, RUBs, and laundry. A turnkey investment in one of Minneapolis?s most popular rental areas?this is an income-producing property you won?t want to miss! The property can be purchased on a contract for deed with the following terms: 25+% down, 5.0% interest, interest-only monthly payments, on a seven-year term.

Location

State MN

County Hennepin

Zoning Residential-Multi-Family

Interior

Heating Boiler

Inclusions Building, Fixture/Equipment, Leases, Rental License

Fireplace No

Exterior

Garage Parking Lot

Utilities Available Electric Common, Electric Separate, Heating Common, Hot Water Common

Present Use Residential

Parking Type Parking Lot

Building

Foundation 1616

Sewer City Sewer/Connected

Water City Water/Connected

Structure Type Brick/Stone,Stucco

Schools

School District Minneapolis

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Listed by Paul Begich • Compass

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Brandon Anderson

+1(612) 490-0638

Agent | License ID: 40180683

Agent License ID: 40180683