7632 Pleasant Avenue, Minneapolis, MN 55423

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
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
Garage Stalls: 0

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: 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; Gas 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

Contract Information

Contingency: None
Original List Price: 624999
ListPrice: 624999
Owner is an Agent?: No
Auction?: 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
Assessment Balance: 0

Building Information

Finished SqFt Above Ground: 2079
Finished SqFt Below Ground: 1929

More Information

Income and Expenses

Annual Gross Expenses: 22092
Annual Gross Income: 63900
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Fuel Expense: 0
Annual Insurance Expense: 0
Annual Maintenance Expense: 0
Annual Repair Expense: 0
Annual Trash Expense: 0
Annual Water/Sewer Expense: 0
Total Annual Expenses: 0

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: Yes
Annual Rent: 12900
Finished SqFt: 682
Full Baths: Yes
Monthly Expense: 1075
Monthly Rent: 1075
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: Yes
Total Rooms: 2

Unit 2

Furnished?: No
Leased?: Yes
Unit Number: 2
Annual Rent: 17400
Finished SqFt: 832
Full Baths: Yes
Monthly Expense: 14
Monthly Rent: 1400
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 2

Unit 3

Furnished?: No
Leased?: Yes
Unit Number: 3
Annual Rent: 28000
Finished SqFt: 682
Full Baths: Yes
Monthly Expense: 1400
Monthly Rent: 1400
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 2

Unit 4

Furnished?: No
Leased?: Yes
Unit Number: 4
Annual Rent: 28000
Finished SqFt: 682
Full Baths: Yes
Monthly Expense: 1400
Monthly Rent: 1450
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 2

Unit Details

Total Units: 4

Office/Member Info

Association: SPAAR

Location, Tax and Other Information

Legal Description: LOT 006 BLOCK 002 SUNSET TERRACE LOT 6, EXCEPT THE WEST 121.90 FEET; SUBJECT TO STREET
Listing City: Richfield
Map Page: 134
Municipality: Richfield
School District: Richfield
School District Phone: 612-798-6010
Property ID Number: 3402824330026
Tax Year: 2026
Tax Amount: 9141
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: 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 investor’s 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.
Directions: LYNDALE TO 6TH AVENUE EAST TO PLEASANT AVENUE SOUTH

Accessible

None: Yes

Amenities Shared

Coin-op Laundry Owned: Yes
Common Laundry Facility: Yes

Assumable Loan

Not Assumable: Yes

Basement

Concrete Block: Yes
Other: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Conventional: Yes

Exterior

Brick/Stone: Yes
Stucco: Yes

Foundation

Concrete Block: Yes

Fuel

Natural Gas: Yes

Heating

Boiler: Yes

Laundry

Common Area: Yes
In Basement: Yes

Lock Box Type

Combo: Yes

Lot Description

Public Transit (w/in 6 blks): Yes

Owner Pays

Insurance: Yes
Lawn: Yes
Sewer: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Parking Characteristics

Parking Lot: Yes

Rental License Type

Standard: Yes

Sellers Terms

Cash: Yes
Conventional: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Water

City Water/Connected: Yes

No. of Ranges

Four: Yes

No. of Refrigerators

Four: Yes

Tenant Pays

Cable TV: Yes
Electricity: Yes
Gas: Yes

Unit 1 Appliances

Range: Yes
Refrigerator: Yes

Unit 1 Bath Description

Main Floor Full Bath: Yes

Unit 1 Cooling

Wall: Yes

Unit 1 Dining Room Description

Informal Dining Room: Yes
Living/Dining Room: Yes

Unit 2 Appliances

Range: Yes
Refrigerator: Yes

Unit 2 Bath Description

Main Floor Full Bath: Yes

Unit 2 Cooling

Wall: Yes

Unit 2 Dining Room Description

Informal Dining Room: Yes
Living/Dining Room: Yes

Unit 3 Appliances

Range: Yes
Refrigerator: Yes

Unit 3 Bath Description

Main Floor Full Bath: Yes

Unit 3 Cooling

Wall: Yes

Unit 3 Dining Room Description

Informal Dining Room: Yes
Living/Dining Room: Yes

Unit 4 Appliances

Range: Yes
Refrigerator: Yes

Unit 4 Bath Description

Main Floor Full Bath: Yes

Unit 4 Cooling

Wall: Yes

Unit 4 Dining Room Description

Informal Dining Room: Yes
Living/Dining Room: Yes