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3029 Garfield Ave

$900,000

3029 Garfield Ave, Minneapolis, MN 55408

Active
Last Updated: 05/11/2025

0.14 acres

Lot Area

6

Units

Details:
Lot Area:    0.14 acres
Units:    6
Year Built:    1960
Zoning:    Residential-Multi-Family
Highlights:
  • Lot Size Dimensions: 46' x 128'
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!

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