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$400,000

4 Beds 3 Baths 2,664 SQFT 0.15 Acres
Type: Multi-Family

226 Gramercy Avenue
Minneapolis, MN 55405

MLS#: 7128878
The Real Estate Advantage
Office: 952.224.8800
Presented by: Edina Realty, Inc.

Property Description

 

Solid Minneapolis triplex offering a strong rental history, consistent cash flow, and excellent owner-occupant potential! Features one spacious 3BR unit currently leased month-to-month with 60-day notice, plus a 1 bedroom and a studio ready for new tenants. Major improvements include two new upper-unit furnaces in 2021, new roof in 2018, exterior repainting in 2023, and extensive insulation upgrades in 2023, including spray foam insulation in the walls and added attic insulation. Updated bathrooms, classic hardwood floors, and separate utilities with tenants paying their own gas and electric add to the appeal. Inviting front porches, a 2-car garage, and additional off-street parking. Conveniently located minutes from downtown Minneapolis, Bryn Mawr Park, Theodore Wirth Park, Utepils Brewing, the Minneapolis Farmers Market, and Metro Transit. A well-maintained property with steady rental demand—ideal for an investor or owner-occupant seeking rental income and long-term upside!


 

Interior Features

Bedrooms

Total Bedrooms4

Bathrooms

Total Baths3

Other Interior Features

Above Grade Finished Area2,664 sqft
BasementDaylight/Lookout Windows, Full, Owner Access, Unfinished
Basement (Y/N)Yes
Below Grade Finished Area0 sqft
FuelNatural Gas
Garage Dimensions27x21
Garage Door Width7 sqft
Garage Square Feet567
Laundry FeaturesMain Level, In Unit

General

AccessibilityNone
Additional Parcels Y/NNo
CityMinneapolis
ContingencyNone
CountyHennepin
DirectionsGlenwood Ave to Cedar Lk Rd. Go south 1 block to 2nd Ave N. Turn right onto Gramercy Ave N.
Electric Expense0
Fuel Expense0
Garage Spaces2
Gross Income45000
HeatingForced Air
High School DistrictMinneapolis
Insurance Expense2921
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Living Area2,664 sqft
Lot Size UnitsSquare Feet
MaintenanceExpense0
New ConstructionNo
Number Of Units Total3
Operating Expense14577.58
OwnerPaysInsurance, Sewer, Taxes, Trash Collection, Water
PostalCityMinneapolis
Property SubtypeTriplex
Property TypeResidential Income
SewerCity Sewer/Connected
Standard StatusActive
Tax Annual Amount$7,229
Tax Year2026
Tenant PaysCable TV, Electricity, Gas
Trash Expense0
Virtual TourClick here
Water Sewer Expense4428
Year Built1912
Zoning DescriptionResidential-Multi-Family

Exterior

Building Area Total4,553 sqft
Foundation Area1,368 sqft
Lot Dimensions45x145
Lot FeaturesPublic Transit (w/in 6 blks)
Lot Size Area6,534 sqft
Parking FeaturesDetached Garage, RV Access/Parking
Water SourceCity Water/Connected
Waterfront Y/NNo

Additional Details

Price History

Schools 

Elementary School N/A
Middle School N/A
High School N/A

  

Similar Properties

$400,000

4 Beds 3 Baths 2,664 SQFT 0.15 Acres
Type: Multi-Family

226 Gramercy Avenue
Minneapolis, MN 55405

MLS#: 7128878
The Real Estate Advantage
Office: 952.224.8800