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$339,000

3 Beds 2 Baths 2,211 SQFT 0.10 Acres
Type: Multi-Family

2542 Garfield Avenue
Minneapolis, MN 55405

MLS#: 7142239
The Real Estate Advantage
Office: 952.224.8800
Presented by: DRG

Property Description

 

Prime Uptown/Whittier duplex offering an ideal combination of location, character and income potential. Situated in one of Minneapolis’ most walkable neighborhoods, just steps from Lyndale Avenue restaurants, coffee shops, shopping and nightlife, with convenient access to downtown, Lake of the Isles, Bde Maka Ska and public transit. This classic 1918 duplex offers approximately 2,211 square feet, hardwood floors and the charm of original Minneapolis architecture. An excellent opportunity for investors or owner occupants. Live in one unit and rent the other to help offset monthly housing costs. The property has a long history as a rental and is well positioned in a high demand rental area near downtown employers, hospitals, universities and entertainment. Four off-street parking spaces add significant convenience and value for both residents and tenants. Major exterior improvements include a new roof and new siding in 2024. The manageable building and lot size make this an appealing alternative to larger multifamily properties. Upper unit is currently leased through May 31, 2027. A great opportunity to own a character filled duplex in the heart of Uptown/Whittier with both lifestyle and income potential. Note there is a $5,000 seller contribution available for buyer's closing costs or interest rate buydown - helping lower cash to close or monthly payment.


 

Interior Features

Bedrooms

Total Bedrooms3

Bathrooms

Total Baths2

Other Interior Features

Above Grade Finished Area2,211 sqft
BasementFull
Basement (Y/N)Yes
Below Grade Finished Area0 sqft
FuelNatural Gas
Laundry FeaturesCommon Area, Lower Level

General

AccessibilityNone
Additional Parcels Y/NNo
Association AmenitiesPorch
CityMinneapolis
ContingencyNone
CountyHennepin
DirectionsS Lyndale Ave, left on W 25th St, 1st right onto Garfield. Property on the right.
Electric Expense0
Fuel Expense0
Garage Spaces0
Gross Income36360
HeatingHot Water
High School DistrictMinneapolis
Insurance Expense0
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Living Area2,211 sqft
Lot Size UnitsAcres
MaintenanceExpense0
Net Operating Income34080
New ConstructionNo
Number Of Units Total2
Operating Expense0
OwnerPaysInsurance, Taxes, Trash Collection, Water
Pool FeaturesNone
PostalCityMinneapolis
Property SubtypeDuplex Up and Down
Property TypeResidential Income
RoofAsphalt
SewerCity Sewer/Connected
Standard StatusActive
Subdivision NameLot 012 Block 001 Garfield Ave
Tax Annual Amount$7,061
Tax Year2026
Tenant PaysBroadband, Electricity, Gas, Lawn Care, Snow Removal
Trash Expense0
Virtual TourClick here
Water Sewer Expense0
Year Built1918
Zoning DescriptionResidential-Multi-Family

Exterior

Building Area Total2,911 sqft
Foundation Area908 sqft
Lot Dimensions40x118.6
Lot FeaturesPublic Transit (w/in 6 blks), Tree Coverage - Medium
Lot Size Area0 sqft
Road Frontage TypeCity Street, Curbs, Paved Streets, Sidewalks
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

$339,000

3 Beds 2 Baths 2,211 SQFT 0.10 Acres
Type: Multi-Family

2542 Garfield Avenue
Minneapolis, MN 55405

MLS#: 7142239
The Real Estate Advantage
Office: 952.224.8800