Cash-flowing investment opportunity you've been waiting for. This rare, fully legal triplex in the heart of Uptown delivers a true 10.3% cap rate with a proven, diversified income stream. Located just blocks from the lakes in one of Minneapolis’ most walkable neighborhoods, this is a turnkey asset that performs from day one. Includes (2) 1 bedroom, 1 bath units and (1) spacious 3 bedroom, 2 bath unit, all generating strong, consistent rents. One of the two 1 bedroom unit operates as a highly successful Airbnb, averaging $2,800 per month, with a 13 year track record and “Guest Favorite” status. (see supplements for more info) The transition is seamless with furnishings, professional photos, a dedicated cleaning company, and established systems all included so you can continue generating income immediately.
The remaining units are leased at $1,450 and $2,100, providing reliable long term income with room for future upside. Unit 1 (1 bedroom) is Airbnb. Unit 2 (3 bedroom) is Leased through September and Unit 3 (1 bedroom) is currently month to month. offering flexibility for an owner occupant or an investor looking to optimize returns. Extensive updates make this a true plug and play investment. Improvements include new kitchens, updated bathrooms, fresh paint throughout, a brand new roof, and a new boiler system. Most mechanicals and utilities have been updated within the past five years, helping minimize near term expenses and simplify ownership. Each unit has its own private entrance, increasing tenant appeal and flexibility. On street parking is easy and readily available, with potential to explore adding an off street space on the southeast corner of the lot with city approval. Tenant storage and laundry in the shared basement. Fully licensed and legally zoned as a triplex, which is increasingly rare in this area, this property offers both stability and long term investment confidence. Whether you are expanding your portfolio or looking for a high performing asset in a prime location, this is a standout opportunity in one of Minneapolis’ most desirable rental markets.
Listing courtesy of Maria Ousky Palmer, Edina Realty, Inc.
