4 Beds
2 Baths
1,310 SqFt
4 Beds
2 Baths
1,310 SqFt
Key Details
Property Type Multi-Family
Sub Type Duplex Up and Down
Listing Status Active
Purchase Type For Sale
Square Footage 1,310 sqft
Price per Sqft $154
Subdivision Robert P Lewis Sub B106 Lyman
MLS Listing ID 7121139
Bedrooms 4
Year Built 1885
Annual Tax Amount $4,646
Tax Year 2026
Contingent None
Lot Size 4,878 Sqft
Lot Dimensions .113
Property Sub-Type Duplex Up and Down
Property Description
The duplex features a rare main-floor three-bedroom, one-full-bath unit and an upper-level one-bedroom, one-bath unit. The newly renovated main-floor unit will be vacant at closing, giving the buyer the option to move in or select a tenant and establish a new lease at current market rent.
The upper unit is occupied by the same long-term tenant of more than 15 years at $810 per month, providing rental income from day one. The seller estimates market rent for the main-floor three-bedroom unit at $1,800–$2,000 per month. At full occupancy, projected gross income is $2,610–$2,810 per month, or $31,320–$33,720 annually. The seller projects a cap rate of approximately 14%+ at the current asking price. Buyers and agents should independently verify rents, expenses, and financial projections.
Recent improvements include a complete renovation of the main-floor kitchen with new cabinets and flooring in 2025, a newer roof and boiler installed in 2020, and lower-level windows replaced in 2019.
Additional features include hardwood floors, a formal dining room, in-unit laundry, a newer deck, a private landscaped backyard, a two-car detached garage, and two additional parking spaces.
Motivated seller seeking a quick close.
Location
State MN
County Ramsey
Rooms
Basement Full, Unfinished
Interior
Heating Forced Air, Hot Water
Fireplace No
Exterior
Parking Features Detached Garage
Garage Spaces 2.0
Building
Story One and One Half
Foundation 800
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories One and One Half
New Construction false
Schools
School District St. Paul
Nearby Locations
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3609 Shepherd Hills Drive, Bloomington, Minnesota 55431, USA