5827 Winnetka AVE N new Save Request In-Person Tour Request Virtual Tour
New Hope,MN 55428
Key Details
Property Type Multi-Family
Sub Type Duplex Side by Side
Listing Status Active
Purchase Type For Sale
Square Footage 3,734 sqft
Price per Sqft $171
Subdivision Registered Land Tract D Surv 1
MLS Listing ID 6760624
Year Built 1971
Annual Tax Amount $8,126
Tax Year 2024
Lot Size 0.300 Acres
Property Sub-Type Duplex Side by Side
Property Description
Introducing a rare and exceptional opportunity to own a fully renovated side-by-side duplex, each unit offering 3 spacious bedrooms and 3 beautifully updated bathrooms. Perfectly positioned on a scenic Golf course, this property blends modern living with peaceful, green surroundings. Whether you're an investor seeking a solid, turn-key asset or a homebuyer looking to live in one unit while generating income from the other, this property checks all the boxes. Both units have been thoughtfully renovated from top to bottom, featuring brand-new kitchens with modern cabinetry, sleek countertops, and stainless-steel appliances. Fresh flooring, updated lighting, and stylish fixtures run throughout, while the bathrooms boast high-end tile work and contemporary vanities. Each side offers a spacious layout and is perfect for today's lifestyle. Step outside and enjoy views of the meticulously maintained golf course from your backyard, a truly rare setting for a multi-family property. Investment financials are as follows: When fully rented, the duplex generates $60,000 in annual rental income ($2,500 per unit per month). Operating expenses total $14,160 annually, including $4,800 for insurance, $8,400 in property taxes, and $960 for utilities. This results in a net operating income (NOI) of $45,840. The investment reflects a 7.16% cap rate, a debt service coverage ratio (DSCR) of 1.21, and an expense ratio of 24%, making it a solid income-producing opportunity.
Location
State MN
County Hennepin
Interior
Heating Forced Air
Exterior
Parking Features Attached Garage,Shared Driveway,Garage Door Opener,Insulated Garage,Multiple Garages,On-Street Parking Only,Units Vary
Garage Spaces 2.0
Fence Chain Link,Wood
Roof Type Age Over 8 Years
Building
Lot Description On Golf Course,Many Trees
Story More Than 2 Stories
Foundation 1992
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Stucco
New Construction false
Schools
School District Robbinsdale