3279 Library Lane, Minneapolis, MN 55426 (MLS# 7052145)

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Property Description
Exceptional duplex located in the heart of St. Louis Park ideal for investors and owner-occupants alike. One unit is vacant and move-in ready, while the lower unit is currently leased at $2,610 per month, offering immediate rental income. Meticulously maintained by the same family for the past 25 years, this property features newer siding with Versetta stone frontage, a maintenance-free exterior, a whole-house LeafGuard gutter system, and numerous updates inside and out. Both units offer spacious layouts filled with natural light, generously sized living rooms, and updated kitchen spaces. The lower unit features a unique two-level layout with three bedrooms, two bathrooms, a full kitchen, and an additional kitchenette that is perfect for flexible living arrangements. The upper unit includes two bedrooms and occupies the entire top floor, providing privacy and comfort. Additional highlights include a large backyard, great outdoor spaces, a detached two-car garage, newer concrete, drain tile with sump pump, an owner’s locker for tools and supplies, and vinyl windows throughout, many of which have been recently replaced. Located on a quiet residential street with convenient highway access, the property is on the bus line, just a half block from the local library, and close to neighborhood shopping, dining, and top-rated schools. It’s also only minutes from The Shops at West End. Enjoy nearby parks, golf courses, and all the amenities St. Louis Park has to offer. Owner-occupant opportunity: Based on an example scenario using traditional 30-year financing with 25% down with a 6% interest rate, estimated taxes and insurance, monthly ownership costs are projected at approximately $3921.11. With the lower unit currently rented at $2,610 per month, a buyer occupying the vacant unit could potentially offset a significant portion of their housing cost—resulting in an estimated net monthly out-of-pocket of about only $1311.11. (Figures are estimates and will vary based on financing terms.)

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