3029 Garfield AVE, Minneapolis, MN 55408 – 6696001 - Luke Chase

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Luke Chase

luke@ts-re.com +1(612) 418-9979

$900,000

Est. payment - /mo

6,098 Sqft Lot

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UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Motor Line Add

MLS Listing ID 6696001

Year Built 1960

Annual Tax Amount $10,761

Tax Year 2025

Contingent None

Lot Size 6,098 Sqft

Acres 0.14

Lot Dimensions 46' x 128'

Property Sub-Type Apartment

Property Description

SELLER FINANCING AVAILABLE w/ the following terms: 25% down, 5.0% interest (interest-only), on a seven-year term. Fantastic investment opportunity to buy an apartment with seller-financing in the heart of Lyn-Lake! This fully renovated six-unit apartment at 3029 Garfield offers modern, updated units with leases running through Summer of 2025 – one unit has been left vacant to accommodate on-site showings. 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 – with the seller financing terms, this equates to a cash-on-cash return of over 10%! A turnkey investment in one of Minneapolis's most popular rental areas—this is an income-producing property you won't want to miss!

Location

State MN

County Hennepin

Zoning Residential-Multi-Family

Interior

Heating Boiler

Inclusions Building, Fixture/Equipment

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

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Listed by Paul Begich • Compass

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3029 Garfield AVE Minneapolis, MN 55408