2605 138th Avenue NW, Andover, MN 55304 (MLS# 6459814)
$650,000
Andover, MN 55304
MLS# 6459814
Status: Closed
6 beds | 4 baths | 3464 sqft
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Property Description
Here is a great opportunity to own a great income producing property in Andover. All of the units were renovated between 2020 and 2022. Most pictures are of the vacant unit, but that is representative of what all of the other units look like. The solar system is paid for and frequently zeros out the electric bill and produces extra income monthly. The vacant unit is available for showings, the rest of the units can be toured after an offer is received.
Details
Maps
Contract Information
Status: Closed
Off Market Date: 2023-12-13
Contingency: None
Current Price: 655000
Closed Date: 2024-01-10
Original List Price: 650000
ListPrice: 650000
Sales Close Price: 655000
List Date: 2023-11-14
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1972
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Bedrooms: 6
Baths Total: 4
Main Floor Total SqFt: 132
Above Ground SqFt: 1730
Below Grd Total SqFt: 1734
Total SqFt: 3464
Foundation Size: 1800
Style: (MF) Four Plex
Total Finished Sqft: 3268.00
Lot Dimensions: 110 x 220
Acres: 0.56
Assessment Pending: Unknown
Location Tax and Other Information
House Number: 2605
Street Name: 138th
Street Suffix: Avenue
Street Direction Suffix: NW
Postal City: Andover
County: Anoka
State: MN
Zip Code: 55304
Assessments
Tax With Assessments: 4548
Basement
Foundation Dimensions: 60 x 30
Building Information
Finished SqFt Above Ground: 1634
Finished SqFt Below Ground: 1634
Income and Expenses
Annual Gross Expenses: 3150
Annual Gross Income: 60360
Annual Insurance Expense: 1000
Annual Maintenance Expense: 700
Annual Net Income: 57210
Annual Repair Expense: 250
Annual Water/Sewer Expense: 1200
Misc Monthly Income: 100
Misc. Annual Income: 1200
Total Annual Expenses: 2200
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
DP Resource: Yes
Homestead: No
Ownership
Fractional Ownership: No
Public Survey Info
Range#: 24
Section#: 33
Township#: 32
Unit 1
Furnished?: No
Leased?: Yes
Unit Number: 1
3/4 Baths: 1
Annual Rent: 11700
Finished SqFt: 728
Monthly Rent: 975
No. of Units Like This: 2
Total Baths: 1
Total Bedrooms: 1
Total Rooms: 4
Unit 2
Furnished?: No
Leased?: Yes
Unit Number: 2
3/4 Baths: 1
Annual Rent: 17880
Finished SqFt: 840
Monthly Rent: 1490
No. of Units Like This: 2
Total Baths: 1
Total Bedrooms: 2
Total Rooms: 5
Unit Details
Total Units: 4
Property Features
Accessible: None
Assumable Loan: Yes w/ Qualifying
Basement: Concrete Block
Construction Status: Previously Owned
Electric: 200+ Amp Service
Exterior: Brick/Stone; Vinyl
Financing Terms: Conventional
Fuel: Natural Gas
Heating: Forced Air
Laundry: Common Area
Lock Box Type: Combo
Owner Pays: Common Area Maintenance; Insurance; Lawn; Maintenance/Repair; Snow Removal; Taxes; Water
Rental License Type: Standard
Roof: Age 8 Years or Less; Asphalt Shingles
Sellers Terms: Assumable; Cash; Conventional; FHA
Sewer: City Sewer - In Street
Tenant Pays: Broadband; Electricity; Heat; Trash Collection
Water: Well
Listing Office: Parcel Real Estate Inc.
Last Updated: October - 15 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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