5570 & 5580 Shorewood Lane, Excelsior, MN 55331 (MLS# 7157563)

5570 & 5580 Shorewood Lane, Excelsior, MN 55331

New Listing
$574,900
Property Type: Multi-Family Bedrooms: 6 Baths: 4 Square Footage: 2,510 Lot Size (sq. ft.): 20,038 Status: Active
Current Price: $574,900 List Date: 10/08/2026 Last Modified: 10/09/2026

Overview

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 brand new roof being installed! 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 f ...

Listing Details MLS# 7157563

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Owner Occupied
No
Waterfront YN
No
Year Built
1968
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Main Floor Total SqFt
1560
Above Ground SqFt
1560
Below Grd Total SqFt
950
Total SqFt
2510
Foundation Size
950
Style
(MF) Duplex Side X Side
Total Finished Sqft
2230.00
Garage Stalls
2
Lot Dimensions
135x329x421x140
Acres
0.46
Assessment Pending
Unknown

Property Features

Accessible: None Basement: Full Construction Status: Previously Owned Exterior: Wood Fencing: None Foundation: Other Fuel: Natural Gas Heating: Forced Air Laundry: Laundry Room; Lower Level Lot Description: Irregular Lot; Tree Coverage - Heavy Pool Description: None Road Frontage: City Street Roof: Age 8 Years or Less; Asphalt Shingles Sellers Terms: Cash; Conventional; FHA; VA Sewer: City Sewer/Connected Stories: One Unit 1 Amenities: Ceiling Fan(s); Kitchen Window; Patio Unit 1 Appliances: Dishwasher; Dryer; Range; Refrigerator; Washer Unit 1 Bath Description: 1/2 Basement; Main Floor Full Bath Unit 1 Cooling: Wall Unit 1 Dining Room Description: Informal Dining Room Unit 1 Family Room Characteristics: Main Level Unit 1 Fireplace Char: Living Room Unit 1 Special Search: Main Floor Bedroom Unit 2 Amenities: Ceiling Fan(s); Kitchen Window; Patio; Tile Floors; Washer/Dryer Hookup Unit 2 Appliances: Dishwasher; Dryer; Exhaust Fan/Hood; Range; Refrigerator; Washer Unit 2 Bath Description: 1/2 Basement; Main Floor Full Bath Unit 2 Cooling: Window Unit 2 Dining Room Description: Living/Dining Room Unit 2 Family Room Characteristics: Main Level Unit 2 Special Search: Main Floor Bedroom Water: Well

Contract Information

Contingency
None
Original List Price
574900
ListPrice
574900
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
5570 & 5580
Street Name
Shorewood
Street Suffix
Lane
Postal City
Excelsior
County
Hennepin
State
MN
Zip Code
55331

Assessments

Tax With Assessments
7026.38

Building Information

Finished SqFt Above Ground
1560
Finished SqFt Below Ground
670

More Information

Income and Expenses

Annual Electric Expense
Yes
Annual Fuel Expense
Yes
Annual Gross Expenses
3000
Annual Gross Income
48000
Annual Insurance Expense
Yes
Annual Maintenance Expense
1000
Annual Net Income
45000
Annual Repair Expense
1500
Annual Trash Expense
Yes
Annual Water/Sewer Expense
Yes
Total Annual Expenses
3000

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

DP Resource
Yes
Homestead
No

Ownership

Fractional Ownership
No

Parking Characteristics

Garage Square Feet
484

Unit 1

Furnished?
No
Leased?
No
Unit Number
Yes
# of Fireplaces
Yes
1/2 Baths
Yes
Annual Rent
21600
Finished SqFt
1115
Full Baths
Yes
Monthly Expense
125
Monthly Rent
2000
No. of Units Like This
Yes
Oth Parking Spaces
2
Total Baths
2
Total Bedrooms
3
Total Rooms
5

Unit 2

Furnished?
No
Leased?
No
Unit Number
2
# of Fireplaces
Yes
1/2 Baths
Yes
Annual Rent
21600
Finished SqFt
1115
Full Baths
Yes
Monthly Expense
125
Monthly Rent
2000
No. of Units Like This
Yes
Total Baths
2
Total Bedrooms
3
Total Rooms
5

Unit Details

Total Units
2
IDX
Listing Office: Keller Williams Premier Realty Lake Minnetonka
Last Updated: October - 09 - 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. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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