6221 Lake ST Active Save Request In-Person Tour Request Virtual Tour
Minneapolis,MN 55416
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,090 sqft
Price per Sqft $207
Subdivision Auditors Sub 378
MLS Listing ID 6685957
Style (MF) Four Plex
Bedrooms 4
Year Built 1948
Annual Tax Amount $7,906
Lot Size 3,920 Sqft
Property Description
Discover this rare four-plex gem in the heart of St. Louis Park, just off W. Lake Street! This well-maintained property has been lovingly cared for by its long-time owner. The building features four spacious 1-bedroom units, three of which are currently leased at $875/month, with leases in place through September 2025 – the fourth unit is currently vacant, accommodating potential owner-occupancy. There is excellent potential for value-add improvements, including updating the kitchens and bathrooms, and increasing rents to reflect current market rates. Take advantage of low-down payment financing and the opportunity for long-term appreciation in this prime location! A standout feature of this property is the presence of four individual furnaces (as opposed to a shared boiler), allowing tenants to pay their own gas and heat bills. Don't miss out on this rare investment opportunity—schedule your showing today!
Location
State MN
County Hennepin
Community Auditors Sub 378
Interior
Heating Forced Air
Building
Water City Water/Connected
Others
Acceptable Financing Cash,Conventional,FHA,VA
Listing Terms Cash,Conventional,FHA,VA