7632 Pleasant Avenue, Minneapolis, MN 55423 (MLS# 7158188)

7632 Pleasant Avenue, Minneapolis, MN 55423

New Listing
$549,999
Property Type: Multi-Family Bedrooms: 7 Baths: 4 Square Footage: 4,155 Lot Size (sq. ft.): 11,326 Status: Active
Current Price: $549,999 List Date: 10/09/2026 Last Modified: 10/10/2026

Overview

Description

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 m ...

Listing Details MLS# 7158188

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Owner Occupied
No
Waterfront YN
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

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 Lot Description: Public Transit (w/in 6 blks) Owner Pays: Gas; 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 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
549999
ListPrice
549999
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

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

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 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 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 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 Rent
1450
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
2
Total Rooms
2

Unit Details

Total Units
4
IDX
Listing Office: Eos Realty, LLC
Last Updated: October - 10 - 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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