21
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$930,000
Est. payment /mo
6,098 Sqft Lot
Active
3029 Garfield AVE Minneapolis, MN 55408
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UPDATED:
02/25/2025 01:51 PM
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 Sub-Type Apartment
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