For Sale: Excelsior MLS# 7029270
Active
NEW!
$639,900
Multi-family: 1 Story
6 br • 4 ba • Built 1968
2,230 sqft • 1 acres
MLS# 7029270
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Property Description
Exceptional investment and lifestyle opportunity in the heart of Shorewood! This outstanding duplex is ideally located just steps from the Lake Minnetonka Regional Trail, offering direct access into downtown Excelsior where you’ll enjoy restaurants, boutique shopping, and vibrant lake life year-round. Walk or bike to nearby Tonka Bay for additional dining favorites including Hazelwood and Joey Nova’s. Whether you’re an investor or owner-occupant, this property offers a rare income-producing opportunity with strong rental potential while enjoying one of Lake Minnetonka’s most desirable communities. Both units have been extensively updated and well maintained. Major exterior improvements completed in 2010 include new columns, shutters, paint, professional landscaping, and a 35-year Timberline roof. Recent 2026 updates bring a fresh, modern feel throughout with new carpet, luxury vinyl plank flooring, full interior paint, updated light switches, painted garage and utility floors, and new appliances. Additional mechanical updates include newer furnaces installed within the past five years, providing added efficiency and peace of mind. Enjoy low-maintenance ownership, thoughtful updates, and an unbeatable location near trails, dining, and the best of Lake Minnetonka living.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$639,900
Price per sq ft:
$287
Property Type:
Multi-family
City:
Excelsior
Garage Spaces:
2
County:
Hennepin
Year Built:
1968
State:
MN
Property Style:
1 Story
Zip Code:
55331
Interior
Bedrooms:
6
Bathrooms:
4
Finished Area:
2,230 ft2
Living Area:
2,230 ft2
Refrigerators:
One Per Unit
Basement Details:
- Finished
- Full
Exterior
Stories:
One
Garage Spaces:
2
Garage Size:
484 ft2
Foundation Size:
950 ft2
Fencing:
None
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
- Asphalt
- Attached Garage
Road Frontage:
City Street
Pool:
None
Roof Details:
Asphalt
Rooms
Laundry:
- Laundry Room
- Lower Level
Lot & Land
Acres:
1
Geolocation:
44.902510086, -93.5854405297
Lot Dimensions:
135 x 329 x 421 x 140
Zoning:
Residential-Multi-Family
Lot Description:
- Irregular Lot
- Tree Coverage - Heavy
Schools
School District:
1246
District Phone:
9524015000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$1
Annual Fuel Expense:
$1
Annual Insurance Expense:
$1
Annual Maintenance Expense:
$1,000
Annual Trash Expense:
$1
Annual Water/Sewer Expense:
$1
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$7,026
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$7,026
Income
Annual Gross Income:
$45,000
Rent
Annual Net Income:
$42,000
Units
Total Units:
2
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
Well
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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 Keller Williams Premier Realty Lake Minnetonka.
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.