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$624,999
Est. payment /mo
7 Beds
4 Baths
4,008 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,008 sqft
Price per Sqft $155
Subdivision Sunset Terrace
MLS Listing ID 7043836
Bedrooms 7
Year Built 1966
Annual Tax Amount $9,141
Tax Year 2026
Contingent None
Lot Dimensions 75 x 122
Property Sub-Type Fourplex
Property Description
Rarely available fourplex in a highly convenient Richfield location offering strong rental demand and long-term tenants. This well-maintained property features three 2-bedroom units and one 1-bedroom unit, making it an ideal addition to an investor's portfolio, owner occupant or a great opportunity for a first-time multifamily buyer looking to build passive income.
Recent capital improvements provide peace of mind, including a new boiler (2025), newer windows and a complete remodel of Unit 2 in 2024 featuring new carpet, fresh paint, new blinds, new living room windows, updated kitchen cabinets, countertops, appliances, and remodeled bathroom with tile tub/shower. The property benefits from month-to-month leases with long-term tenants and historically low turnover, helping provide consistent income and flexibility for future rent adjustments.
Located in Southwest Richfield, the property offers excellent accessibility to major highways, shopping, restaurants, and parks, and is just minutes from the Mall of America and MSP Airport, making it an attractive location for renters. The neighborhood also offers strong amenities and transportation access, further supporting long-term rental demand.
Recent capital improvements provide peace of mind, including a new boiler (2025), newer windows and a complete remodel of Unit 2 in 2024 featuring new carpet, fresh paint, new blinds, new living room windows, updated kitchen cabinets, countertops, appliances, and remodeled bathroom with tile tub/shower. The property benefits from month-to-month leases with long-term tenants and historically low turnover, helping provide consistent income and flexibility for future rent adjustments.
Located in Southwest Richfield, the property offers excellent accessibility to major highways, shopping, restaurants, and parks, and is just minutes from the Mall of America and MSP Airport, making it an attractive location for renters. The neighborhood also offers strong amenities and transportation access, further supporting long-term rental demand.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Rooms
Basement Block, Other
Interior
Heating Boiler
Fireplace No
Laundry In Basement, Common Area
Exterior
Parking Features Parking Lot
Building
Lot Description Public Transit (w/in 6 blks)
Story Two
Foundation 2079
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
New Construction false
Schools
School District Richfield
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Listed by Kristopher Jacobsen • Eos Realty, LLC
Nearby Locations
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