For Sale: Spring Park MLS# 7104668
Active
NEW!
$299,000
Multi-family: Other
2 br • 2 ba • Built 1930
1,706 sqft • 0.18 acres
Westonka schools
MLS# 7104668
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Property Description
Unique four-unit investment opportunity in a highly desirable location near Lake Minnetonka and area trail systems. This non-conforming property features three separate buildings consisting of a duplex and two detached tiny homes, with four separate mailing addresses. The property has an exceptional rental history with no vacancy in the past 15 years, and all four units are currently occupied. The duplex offers one-bedroom units, each with a kitchen, family room, basement storage, private laundry, and attached garage stall. The detached tiny homes provide additional rental flexibility and strong tenant appeal with affordability. Recent improvements include a duplex remodel with new refrigerator and stove in 2022, new siding and two windows on the duplex in 2025, three new furnaces serving both duplex units and the larger tiny home in 2025, a new furnace motherboard in the smaller tiny home in 2025, and new siding on the larger tiny home in 2024. New side deck/stairs on duplex in 2026. The property offers significant upside potential for investors willing to make additional improvements. Being sold as-is and priced accordingly to reflect condition. Rare opportunity to acquire an income-producing property in a sought-after Lake Minnetonka area location.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$299,000
Price per sq ft:
$175
Property Type:
Multi-family
City:
Spring Park
Garage Spaces:
2
County:
Hennepin
Year Built:
1930
State:
MN
Property Style:
Other
Zip Code:
55384
Subdivision Name:
Pattees Hillcrest
Interior
Bedrooms:
2
Bathrooms:
2
Finished Area:
1,706 ft2
Living Area:
1,706 ft2
Refrigerators:
Four
Basement Details:
- Block
- Partial
- Storage Space
Exterior
Stories:
One
Garage Spaces:
2
Garage Size:
400 ft2
Foundation Size:
1,040 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
- Attached Garage
- Gravel
- Other
Road Frontage:
City Street
Pool:
None
Roof Details:
- Age Over 8 Years
- Asphalt
- Pitched
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.18
Geolocation:
44.93629758, -93.6399652831
Lot Dimensions:
50 x 160
Zoning:
Residential-Multi-Family
Lot Description:
Tree Coverage - Medium
Schools
School District:
277
District Phone:
9524918001
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$3,056
Annual Maintenance Expense:
None
Annual Trash Expense:
$650
Annual Water/Sewer Expense:
$1,931
Tenant Expenses:
Electricity, Fuel, Snow Removal
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$3,680
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$3,680
Income
Annual Gross Income:
$32,690
Rent
Annual Net Income:
$22,183
Units
Total Units:
4
Miscellaneous
Fuel System:
- Natural Gas
- Propane
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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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 Coldwell Banker Realty - Southwest Regional.
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.