MN > Minneapolis > Motor Line Add
Minneapolis, MN 55408,3029 Garfield AVE
Minneapolis, MN 55408,3029 Garfield AVE
Minneapolis, MN 55408,3029 Garfield AVE
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$865,000
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6,098 Sqft Lot
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3029 Garfield AVE Minneapolis, MN 55408

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Lars Anderson

Lars Anderson

+1(651) 497-1666

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Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Motor Line Add

MLS Listing ID 6725729

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: 20% 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 $7,100/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 12%! 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

Listed by Paul Begich • Compass

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agent

Lars Anderson

Agent | License ID: 40584523

+1(651) 497-1666

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3029 Garfield AVE

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