3029 Garfield Avenue

Minneapolis, MN 55408

$930,000
Price
Beds
Baths
4,412 Sq. Ft.
$211 / Sq. Ft.
4,412
Sq. Ft.
$211
per Sq. Ft.

Description

CONTRACT FOR DEED AVAILABLE! Fantastic investment opportunity to buy an apartment with seller-financing in the heart of Lyn-Lake! This fully renovated, fully occupied, six-unit building at 3029 Garfield offers modern, updated units with leases running through Summer of 2025. 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,...CONTRACT FOR DEED AVAILABLE! Fantastic investment opportunity to buy an apartment with seller-financing in the heart of Lyn-Lake! This fully renovated, fully occupied, six-unit building at 3029 Garfield offers modern, updated units with leases running through Summer of 2025. 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. A turnkey investment in one of Minneapolis’s most popular rental areas—this is an income-producing property you won’t want to miss! The property can be purchased on a contract for deed with the following terms: 25+% down, 5.0% interest, interest-only monthly payments, on a seven-year term.

Listing Agent

  1. Paul Begich

    Paul Begich

    Listing Agent

    Compass

    paul.begich@compass.com

    P: (952)-847-3406

Property Details for 3029 Garfield Avenue

Neighborhood
Lyndale
Subdivision Name
Motor Line Add
Zoning Jurisdiction
Residential-Multi-Family
LISTING UPDATED: 10/29/2024 09:06 PM

Property Details for 3029 Garfield Avenue

StatusActive
MLS #6624634
Days on Compass96
Taxes$12,164 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeApartment
MLS TypeCommercial Sale / Apartment
Year Built1960
Lot Size0.14 AC / 6,098 SF
CountyHennepin County

Building Information for 3029 Garfield Avenue

Stories-Residences6Year Built1960Lot Size0.14 AC / 6,098 SF

Property Information for 3029 Garfield Avenue

Summary
Location and General Information
  • City Name: Minneapolis
  • County Or Parish: Hennepin
  • County: Hennepin-MN
  • Directions: North on Lyndale, Right on 31st, Left on Garfield
  • Latitude: 44.947305
  • Longitude: -93.28647
  • Map Coordinate: 106-C4
  • Map Coordinate Source: King's Street Atlas
  • City and Location: Minneapolis
  • City and Location Text: Minneapolis(MN)
  • Postal Code: 55408
  • State Or Province: MN
  • Public Survey Township: 28
Taxes and HOA Information
  • Additional Parcels: No
  • Parcel Number: 0302824220064
  • Tax Annual Amount: $12,164.00
  • Tax Legal Description: LOT 017 BLOCK 003 MOTOR LINE ADDN TO MPLS
  • Tax Other Annual Assessment Amount: $.00
  • Tax Year: 2024
  • Tax With Assessments: 12164.0000
School Information
  • High School District: 1 - Minneapolis
  • School District Number: 1
  • School District Phone: 612-668-0000
Property
Lot Information
  • Current Use: Residential
  • Lot Size Area: 0.14
  • Lot Size Dimensions: 46' x 128'
  • Lot Size Units: Acres
  • Property Sub Type: Apartment
  • Property Type: Commercial Sale
  • Building Area Total: 4412.0
Property and Assessments
  • Age Of Property: 64
Utilities
  • Sewer: City Sewer/Connected
  • Utilities: Electric Common, Electric Separate, Heating Common, Hot Water Common
  • Water Source: City Water/Connected
Interior and Exterior Features
Exterior Features
  • Accessibility Features: None
  • Foundation Area: 1616.0
  • Fuel: Natural Gas
Interior Features
  • Heating: Boiler
  • Basement YN: No

Property History for 3029 Garfield Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3029 Garfield Avenue

Taxable ValueLand$339,100Additions$422,900Total$762,000
Tax Record2023$12,164 ($1,014 / month)
Home Facts
Total Finished SqFt3,200 SqFtAbove Grade Finished SqFt3,200 SqFtStories2Lot Size6,098 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningR4CountyHENNEPINAPN03-028-24-22-0064

Schools near 3029 Garfield Avenue

This home is within Minneapolis Public School Dist..
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Lyndale Elementary School
PublicPK to 5

Justice Page Middle School
Public6 to 8

Washburn Senior High School
Public9 to 12

MPS Online K-5
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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3029 Garfield Avenue is for sale in Minneapolis, MN 55408. This property was listed for sale on October 29, 2024 by Compass, it's currently listed at $930,000. It has been on the market for a total of 96 days and was last sold on April 15, 2021. This listing's school district is Minneapolis Public School Dist.. Nearby schools include Lyndale Elementary School, Justice Page Middle School and Washburn Senior High School. 3029 Garfield Avenue is a 0-bed, 0-bath, 4,412 sqft built in 1960.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Based on information from one of the following Multiple Listing Services: Minneapolis Northstar, REALTORS Association of Northeast Wisconsin and Lake Superior Area REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Minneapolis Northstar and REALTORS Association of Northeast Wisconsin is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Data last updated on 10/29/2024 09:06 PM