20
See all 20 photos
$900,000
Est. payment /mo
6,098 Sqft Lot
New
3029 Garfield AVE Minneapolis, MN 55408
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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 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
Listed by Paul Begich • Compass