For Sale: Lexington MLS# 7149029
Active
NEW!
$575,000
Multi-family: Fourplex
8 br • 4 ba • Built 1984
3,328 sqft • 0.34 acres
Centennial schools
MLS# 7149029
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Property Description
Fantastic investment opportunity to own a fourplex with a strong rental history! Each of the four units features 2 bedrooms, 1 bathroom, a kitchen, and comfortable living areas. Designated parking is available for each unit. The property offers a flexible rental situation with one vacant unit, two units on month-to-month leases, and one unit leased through September 30, 2027. Conveniently located with easy access to I-35W and nearby shopping, this property is a great opportunity for investors looking to expand their portfolio.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$575,000
Price per sq ft:
$173
Property Type:
Multi-family
City:
Lexington
Garage Spaces:
0
County:
Anoka
Year Built:
1984
State:
MN
Property Style:
Fourplex
Zip Code:
55014
Subdivision Name:
Ottes Add To Lexington
Interior
Bedrooms:
8
Bathrooms:
4
Finished Area:
3,328 ft2
Living Area:
3,328 ft2
Refrigerators:
Four
Basement Details:
None
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,664 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Hot Water
Parking Features:
Paved Lot
Shared Amenities:
Coin-op Laundry Owned
Pool:
None
Roof Details:
Asphalt
Rooms
Laundry:
Common Area
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.34
Geolocation:
45.135559, -93.170547
Lot Dimensions:
75 x 200 x 75 x 200
Zoning:
Residential-Multi-Family
Schools
School District:
12
District Phone:
7637926000
Expenses
Annual Caretaker Expense:
$4,025
Annual Electric Expense:
$373
Annual Fuel Expense:
$1,392
Annual Insurance Expense:
$4,724
Annual Maintenance Expense:
$4,500
Annual Trash Expense:
$781
Annual Water/Sewer Expense:
$1,500
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$8,971
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$8,971
Income
Annual Gross Income:
$57,600
Misc. Annual Income:
$300
Rent
Annual Net Income:
$28,279
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Power Company Name:
Xcel Energy
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Pemberton RE.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.