For Sale: Waconia MLS# 7109091
Active Contingent
NEW!
$299,000
Multi-family: Duplex Up and Down
4 br • 3 ba • Built 1924
1,828 sqft • 0.246 acres
Waconia schools
MLS# 7109091
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Property Description
Turnkey Duplex Steps from Downtown Waconia!
Welcome to 340 Olive St, a beautifully updated two-unit property just blocks from Waconia's charming downtown — shops, restaurants, Lake Waconia, and community events all within easy walking distance. This is a rare opportunity to own a fully renovated multifamily home with immediate cash flow and flexibility for an owner-occupant or investor.
The main-level unit is a spacious 2BR/2BA currently leased at $1, 793/month total (rent + utilities/pet fees), generating reliable income from day one. Recent upgrades include fresh paint, new trim, updated bathroom with new flooring and vanity, electric radiant heaters, a converted den now used as a bath, an added bedroom, new sub-panel, spray foam insulation, a full re-pipe to PEX, new LVP flooring throughout the kitchen and entry, a new water softener, and more — nearly every major system and finish has been touched since 2023.
The upper unit (340 ½) just became available, offering a fantastic opportunity to set market rent or move in yourself. This unit has refinished hardwood floors, quartz kitchen countertops, all-new stainless appliances, an updated kitchen sink and disposal, new LVP flooring and a newer flat roof membrane.
Landlord-paid water and gas average just $150/month, keeping expenses predictable.
Don't miss the Open House Thursday, 7/16 from 5–7 PM. Properties like this, with this level of care and updates in this location, don't last long.
Listing
Listing Status:
Active Contingent
Contingency:
Inspection
List Price:
$299,000
Price per sq ft:
$164
Property Type:
Multi-family
City:
Waconia
Garage Spaces:
1
County:
Carver
Year Built:
1924
State:
MN
Property Style:
Duplex Up and Down
Zip Code:
55387
Subdivision Name:
Volkenants 3rd Add
Interior
Bedrooms:
4
Bathrooms:
3
Finished Area:
1,828 ft2
Living Area:
1,828 ft2
Refrigerators:
Two
Basement Details:
- Block
- Unfinished
Exterior
Stories:
Two
Garage Spaces:
1
Garage Dimensions:
10x26
Garage Size:
260 ft2
Foundation Size:
1,024 ft2
Fencing:
None
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
- Detached Garage
- Gravel
- Paved Lot
Road Frontage:
City Street
Pool:
None
Roof Details:
Asphalt
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.246
Geolocation:
44.84639142, -93.7879562
Lot Dimensions:
60 x 140
Zoning:
Residential-Multi-Family
Schools
School District:
110
District Phone:
9524420600
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
$900
Annual Insurance Expense:
$2,000
Annual Maintenance Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
$900
Tenant Expenses:
Electricity, Lawn Care, Snow Removal, Trash Collection
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$4,252
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$4,252
Income
Annual Gross Income:
$39,432
Units
Total Units:
2
Miscellaneous
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of RE/MAX Advantage Plus.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.