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$ 930,000
Est. payment | /mo
6,098 Sqft Lot
$ 930,000
Est. payment | /mo
6,098 Sqft Lot
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
Parking Features Parking Lot
Utilities Available Electric Common, Electric Separate, Heating Common, Hot Water Common
Present Use Residential
Building
Foundation 1616
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Brick/Stone,Stucco
Schools
School District Minneapolis
Listed by Paul Begich • Compass
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