For Sale: Minneapolis MLS# 7071251
Active
$539,900
Multi-family: Other
5 br • 2 ba • Built 1909
2,115 sqft • 0.12 acres
Minneapolis schools
MLS# 7071251
Open Houses
11a - 1p
11a - 1p
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Property Description
Welcome to 3340 Colfax Ave S, where historic charm blends seamlessly with modern convenience.
Thoughtfully converted and extensively updated in 2023, this stunning duplex offers a rare investment opportunity in one of Minneapolis’ most sought after neighborhoods.
The main-floor apartment features an inviting open floor plan with three bedrooms and one bathroom, highlighted by a beautiful fireplace, a fully renovated kitchen and bath, energy efficient LED lighting, and convenient in-unit laundry.
The garden level apartment offers its own open-concept layout with two bedrooms and one bathroom, complete with a stylish new kitchen, remodeled bath, and private in-unit laundry. The lower level unit is also a registered Airbnb generating approximately $26K in annual revenue, creating excellent income potential.
Whether you choose owner occupancy with supplemental rental income or lease both units for maximum returns, this property offers exceptional flexibility and value. With off street parking for 2–3 cars,
Adding to the appeal are the unbeatable walkability and lifestyle amenities just steps from Lake Bde Maka Ska, shopping, dining, grocery stores, and everything Uptown has to offer. this income-producing gem is truly one of a kind.
A must-see opportunity, priced to sell. Don’t miss your chance to own this exceptional property in one of Minneapolis’ premier locations.
A must see opportunity, priced to sell. Don’t miss your chance to own this exceptional property in one of Minneapolis’ premier locations.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$539,900
Price per sq ft:
$255
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1909
State:
MN
Property Style:
Other
Zip Code:
55408
Neighborhood/Area:
70
Subdivision Name:
Remingtons 2nd Add
Interior
Bedrooms:
5
Bathrooms:
2
Finished Area:
2,115 ft2
Living Area:
2,115 ft2
Refrigerators:
Two
Basement Details:
Finished
Exterior
Stories:
One and One Half
Garage Spaces:
0
Garage Dimensions:
0
Garage Door Height:
0
Foundation Size:
1,015 ft2
Foundation Dimensions:
1, 015
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
Paved Lot
Road Frontage:
City Street
Roof Details:
Age 8 Years or Less
Rooms
Laundry:
Laundry Closet
Lot & Land
Acres:
0.12
Geolocation:
44.941696, -93.292356
Lot Dimensions:
40 X 129
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
None
Annual Maintenance Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$7,046
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$7,046
Income
Annual Gross Income:
$26,000
Rent
Annual Net Income:
$22,000
Units
Total Units:
2
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
Yes
Sewer System:
City Sewer - In Street
Water System:
City Water - In Street
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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 - Lakes.
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.