7632 Pleasant Avenue, Minneapolis, MN 55423 (MLS# 7043836)
$599,900
Minneapolis, MN 55423
MLS# 7043836
7 beds | 4 baths | 4155 sqft
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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 investorâs 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.
Details
Maps
Contract Information
Status: Active
Contingency: None
Current Price: 599900
Original List Price: 624999
ListPrice: 599900
List Date: 2026-04-10
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront Present: No
Year Built: 1966
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Bedrooms: 7
Baths Total: 4
Main Floor Total SqFt: 2079
Above Ground SqFt: 2079
Below Grd Total SqFt: 2076
Total SqFt: 4155
Foundation Size: 2079
Style: (MF) Four Plex
Total Finished Sqft: 4008.00
Lot Dimensions: 75 x 122
Acres: 0.26
Assessment Pending: No
Location Tax and Other Information
House Number: 7632
Street Name: Pleasant
Street Suffix: Avenue
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55423
Complex/Dev/Subdivision: Sunset Terrace
Assessments
Tax With Assessments: 9140.28
Building Information
Finished SqFt Above Ground: 2079
Finished SqFt Below Ground: 1929
Income and Expenses
Annual Gross Expenses: 22092
Annual Gross Income: 63900
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
DP Resource: Yes
Homestead: No
Ownership
Fractional Ownership: No
Public Survey Info
Range#: 24
Section#: 34
Township#: 28
Unit 1
Furnished?: No
Leased?: Yes
Unit Number: 1
Annual Rent: 12900
Finished SqFt: 682
Full Baths: 1
Monthly Expense: 1075
Monthly Rent: 1075
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 1
Total Rooms: 2
Unit 2
Furnished?: No
Leased?: Yes
Unit Number: 2
Annual Rent: 17400
Finished SqFt: 832
Full Baths: 1
Monthly Expense: 14
Monthly Rent: 1400
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 2
Total Rooms: 2
Unit 3
Furnished?: No
Leased?: Yes
Unit Number: 3
Annual Rent: 28000
Finished SqFt: 682
Full Baths: 1
Monthly Expense: 1400
Monthly Rent: 1400
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 2
Total Rooms: 2
Unit 4
Furnished?: No
Leased?: Yes
Unit Number: 4
Annual Rent: 28000
Finished SqFt: 682
Full Baths: 1
Monthly Expense: 1400
Monthly Rent: 1450
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 2
Total Rooms: 2
Unit Details
Total Units: 4
Property Features
Accessible: None
Amenities Shared: Coin-op Laundry Owned; Common Laundry Facility
Assumable Loan: Not Assumable
Basement: Concrete Block; Other
Construction Status: Previously Owned
Existing Financing: Conventional
Exterior: Brick/Stone; Stucco
Foundation: Concrete Block
Fuel: Natural Gas
Heating: Boiler
Laundry: Common Area; In Basement
Lock Box Type: Combo
Lot Description: Public Transit (w/in 6 blks)
Owner Pays: Gas; Insurance; Lawn; Sewer; Taxes; Trash Collection; Water
Parking Characteristics: Parking Lot
Rental License Type: Standard
Sellers Terms: Cash; Conventional
Sewer: City Sewer/Connected
Stories: Two
Tenant Pays: Cable TV; Electricity
Unit 1 Appliances: Range; Refrigerator
Unit 1 Bath Description: Main Floor Full Bath
Unit 1 Cooling: Wall
Unit 1 Dining Room Description: Informal Dining Room; Living/Dining Room
Unit 2 Appliances: Range; Refrigerator
Unit 2 Bath Description: Main Floor Full Bath
Unit 2 Cooling: Wall
Unit 2 Dining Room Description: Informal Dining Room; Living/Dining Room
Unit 3 Appliances: Range; Refrigerator
Unit 3 Bath Description: Main Floor Full Bath
Unit 3 Cooling: Wall
Unit 3 Dining Room Description: Informal Dining Room; Living/Dining Room
Unit 4 Appliances: Range; Refrigerator
Unit 4 Bath Description: Main Floor Full Bath
Unit 4 Cooling: Wall
Unit 4 Dining Room Description: Informal Dining Room; Living/Dining Room
Water: City Water/Connected
Listing Office: Eos Realty, LLC
Last Updated: May - 27 - 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. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
Wednesday 27th of May 2026 05:10 PM
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