If you're looking to grow your investment portfolio or break into multifamily ownership through house hacking, this 4-unit property is worth a closer look. Located just minutes from downtown Minneapolis, this building offers a strong unit mix with two 3-bedroom units, one 2-bedroom unit, and one spacious 4-bedroom, 2-bath unit.
The property is currently generating $108,000 in annual rental income with the following rents:
Unit 1: 2 bed, 1 bath - $1,900/month ($22,800/year)
Unit 2: 3 bed, 1 bath - $1,900/month ($22,800/year)
Unit 3: 3 bed, 2 bath - $2,500/month ($30,000/year)
Unit 4: 4 bed, 2 bath - $2,700/month ($32,400/year)
All four units are currently occupied with tenants participating in the Housing Choice Voucher (Section 8) program. The 4-bedroom unit is expected to become available, creating an excellent opportunity for an owner-occupant to house hack while the other three units help offset the mortgage, or for an investor to lease it at market rent.
The two upper units feature two-level floor plans with two bathrooms and updated kitchens. Each unit has its own furnace and dedicated water heater, and tenants pay their own gas and electric, helping reduce owner expenses. An oversized 2-car garage and additional off-street parking add even more value.
The property is currently self-managed, with operating expenses available upon request. For qualified buyers, the sellers are also open to a Contract for Deed through their preferred lender with a minimum 20% down payment, subject to lender approval and mutually agreeable terms.
Whether you're adding another cash-flowing property to your portfolio or looking for a smart way to live in one unit while the others help pay the mortgage, this is a rare multifamily opportunity in a convenient Minneapolis location.
