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For Sale:  Medicine Lake MLS# 7145468

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Active
$699,000
/mo Edit
Multi-family:  Duplex Up and Down
4 br • 3 ba • Built 1979
2,717 sqft • 0.47 acres
Wayzata schools
MLS# 7145468
763-576-8286
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    Property Description

    Rare up-down duplex opportunity in picturesque Medicine Lake, surrounded by single-family homes and offering beautiful lake views. The owner-occupied upper unit features two bedrooms, two bathrooms, a spacious four-season porch overlooking the private backyard, and Medicine Lake views from the kitchen. The lower unit offers two bedrooms, full bath, private laundry, huge patio, spacious kitchen and family room, plus excellent storage. A private, level backyard with firepit provides plenty of room to enjoy the outdoors. The heated three-stall garage offers generous parking, workspace and private locked storage for each unit. Ideal for an owner occupant, multigenerational living or investment, with convenient access to Medicine Lake, parks, trails, Wayzata Schools and downtown Minneapolis just 15 minutes away. A rare combination of privacy, lake views, garage space and income-producing potential. SEPARATE ELECTRIC METERS & GAS METERS and two separate furnaces and ac as well.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $699,000
    Price per sq ft: $257
    Property Type: Multi-family
    City: Medicine Lake
    Garage Spaces: 3
    County: Hennepin
    Year Built: 1979
    State: MN
    Property Style: Duplex Up and Down
    Zip Code: 55441
    Subdivision Name: Registered Land Surv 1392 Tr

    Interior

    Bedrooms: 4
    Bathrooms: 3
    Finished Area: 2,717 ft2
    Living Area: 2,717 ft2
    Refrigerators: One Per Unit
    Basement Details:
    • Drainage System
    • Egress Window(s)
    • Finished
    • Full
    • Single Tenant Access
    • Storage Space
    • Storage/Locker
    • Walkout

    Exterior

    Stories: Split Entry (Bi-Level)
    Garage Spaces: 3
    Garage Size: 952 ft2
    Foundation Size: 1,288 ft2
    Fencing: None
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Forced Air
    Parking Features:
    • Asphalt
    • Attached Garage
    • Garage Door Opener
    • Guest Parking
    • Insulated Garage
    • Storage
    Shared Amenities:
    • Common Garden
    • In-Ground Sprinkler System
    Road Frontage: City Street
    Exterior Material: Block
    Pool: None
    Roof Details:
    • Age 8 Years or Less
    • Asphalt

    Rooms

    Laundry:
    • In Unit
    • Lower Level
    • Main Level

    Lake & Waterfront

    Waterfront Present: N
    Waterfront: Lake View

    Lot & Land

    Acres: 0.47
    Geolocation: 44.99625, -93.418523
    Lot Dimensions: 202 x 198 x 85 x 127
    Lot Description: Tree Coverage - Medium

    Farm

    Topography: Level, Wooded

    Schools

    School District: 284
    District Phone: 7637455000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $650
    Annual Fuel Expense: $1,200
    Annual Insurance Expense: $4,200
    Annual Maintenance Expense: $875
    Annual Trash Expense: None
    Annual Water/Sewer Expense: $180
    Tenant Expenses: Cable TV, Electricity

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $7,405
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $7,405

    Income

    Annual Gross Income: $12,600

    Rent

    Annual Net Income: $12,600

    Units

    Total Units: 2

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: Yes
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected
    Power Company Name: Xcel Energy

    Mortgage Calculator

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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!

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    Listing provided by RMLS, courtesy of Edina Realty, Inc..
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.