Minneapolis Multifamily for Sale
Turnkey, fully occupied fourplex in the Holland neighborhood of NE Minneapolis. Three of four units carry a high-end 2016 renovation (hardwood floors, updated kitchens, newer furnaces and water heaters), including a two-level premium 3bd/2ba showcase unit with its own central A/C, upper-level loft, heated-tile bath, and private balcony. Every unit is separately metered, including the lower level; tenants pay their own electric and gas, owner covers water, sewer, and trash. On-site coin laundry and unbilled basement storage offer additional off-book income.
The value add is real. In-place rents of $5,510/mo ($66,120/yr) sit under market with leases rolling through 2026, a capturable gap of roughly $200/mo per unit. The one original unit is a value-add remodel to a 2bd, and both 1-beds convert easily to 2-beds, pushing the path to 10 beds across 4 units. Bigger upside: the fully finished, separately metered lower level (bath and mechanicals already in place) needs only a kitchen to become a 5th unit, with proforma gross rents in the mid-$90Ks at 5-unit stabilized (buyer to verify conformance with City of Mpls). One unit opening up soon creates an owner-occupant or market-rate reset opportunity.