Cash-Flowing NE MPLS Triplex – STR/LTR Model w/ Onsite Manager
Business Description
This fully furnished triplex includes 9 total bedrooms across 3 legal units, currently operated as a hybrid rental business:
Unit 1 (5BR): Active Short-Term Rental (STR)
Unit 2 (1BR): Occupied by onsite manager
Unit 3 (3BR): Long-Term Rental (LTR)
The property generates steady cash flow from both short- and long-term stays, with room to expand income by converting the manager's unit if self-management is preferred.
Turnkey income-producing triplex located in the high-demand Northeast Minneapolis Arts District, just steps from Logan Park and minutes from downtown. This STR/LTR hybrid business model is already cash-flowing with reliable operations and an experienced onsite manager who resides in one of the units.
The property includes two income-generating rental units and a third unit currently occupied by the onsite manager. If the new owner prefers to self-manage or hire remote support, the manager’s unit could be rented out to increase income potential.
Included in the sale:
$9,500 in FF&E (beds, couches, appliances, linens, kitchenware, etc.)
Fully furnished and guest-ready units
Established cleaning, booking, and turnover systems
Keypad locks on each unit and a security camera system already installed
Gross revenue over the last 12 months is $209,619 with an EBITDA of $97,548. The business has been streamlined for semi-passive or hands-on ownership and receives strong reviews from both short-term guests and long-term tenants.
Growth & Expansion Opportunities
Rent out the manager’s unit to increase income
Remodel interior finishes to boost nightly and monthly rental rates
Expand unit size or add new structures on the large double lot
Reconvert to a rooming house layout (historically supported up to 16 rooms) if city zoning allows in the future
The double lot may be eligible for future rezoning or higher-density development, as nearby areas are already seeing multi-story residential growth
Implement direct booking systems and a channel manager to reduce platform fees and maximize margins
Facilities & Features
~2,389 sq ft of above-ground finished living space
Double lot with development potential
Partially finished basement with shared laundry and tenant storage
Keypad entry on each unit
Security camera system included
Strong rental demand in a creative, walkable NE Mpls neighborhood
Support & Training
Owner will provide full onboarding support including OTA account transfer guidance, pricing tools, operational contacts, and custom recommendations. The current onsite manager may stay on during the transition if desired.
This listing offers a rare opportunity to acquire a stabilized rental property with flexible use, upside potential, and prime real estate. Perfect for investors, short-term rental operators, or developers seeking to scale in one of Minneapolis' fastest-evolving neighborhoods.
Unit 1 (5BR): Active Short-Term Rental (STR)
Unit 2 (1BR): Occupied by onsite manager
Unit 3 (3BR): Long-Term Rental (LTR)
The property generates steady cash flow from both short- and long-term stays, with room to expand income by converting the manager's unit if self-management is preferred.
Turnkey income-producing triplex located in the high-demand Northeast Minneapolis Arts District, just steps from Logan Park and minutes from downtown. This STR/LTR hybrid business model is already cash-flowing with reliable operations and an experienced onsite manager who resides in one of the units.
The property includes two income-generating rental units and a third unit currently occupied by the onsite manager. If the new owner prefers to self-manage or hire remote support, the manager’s unit could be rented out to increase income potential.
Included in the sale:
$9,500 in FF&E (beds, couches, appliances, linens, kitchenware, etc.)
Fully furnished and guest-ready units
Established cleaning, booking, and turnover systems
Keypad locks on each unit and a security camera system already installed
Gross revenue over the last 12 months is $209,619 with an EBITDA of $97,548. The business has been streamlined for semi-passive or hands-on ownership and receives strong reviews from both short-term guests and long-term tenants.
Growth & Expansion Opportunities
Rent out the manager’s unit to increase income
Remodel interior finishes to boost nightly and monthly rental rates
Expand unit size or add new structures on the large double lot
Reconvert to a rooming house layout (historically supported up to 16 rooms) if city zoning allows in the future
The double lot may be eligible for future rezoning or higher-density development, as nearby areas are already seeing multi-story residential growth
Implement direct booking systems and a channel manager to reduce platform fees and maximize margins
Facilities & Features
~2,389 sq ft of above-ground finished living space
Double lot with development potential
Partially finished basement with shared laundry and tenant storage
Keypad entry on each unit
Security camera system included
Strong rental demand in a creative, walkable NE Mpls neighborhood
Support & Training
Owner will provide full onboarding support including OTA account transfer guidance, pricing tools, operational contacts, and custom recommendations. The current onsite manager may stay on during the transition if desired.
This listing offers a rare opportunity to acquire a stabilized rental property with flexible use, upside potential, and prime real estate. Perfect for investors, short-term rental operators, or developers seeking to scale in one of Minneapolis' fastest-evolving neighborhoods.
About the Business
- Years in Operation
- 8
- Number of Employees
- 1
- Facilities & Assets
- Fully furnished triplex with established STR/LTR model. Includes 3 units, onsite manager, private backyard, keypad locks, secure entry, linens, appliances, and $9,500 in FF&E. Laundry/storage in basement. Zoned and compliant.
9 bedrooms across 3 units
Unit 1: 5BR – STR
Unit 2: 1BR – Manager
Unit 3: 3BR – LTR
Private entry, kitchen, and bath in each unit
Partially finished basement with shared laundry
Keypad locks + security camera system
Zoned triplex on double lot - Website
- https://www.gocastles.com
- Market Outlook / Competition
- Located in high-demand NE Minneapolis near Logan Park and The Moose on Monroe. Strong occupancy from travel nurses, students, and short-term visitors. Low competition in the immediate neighborhood for hybrid STR/LTR offerings with this level of automation and onsite support.
- Opportunities for Growth
- Significant upside through increased nightly rates, full STR conversion, or by renting the currently owner-occupied unit. Double lot offers potential to expand unit sizes or add new structures for higher rents. Property previously had 16-room layout—ideal if Minneapolis reapproves rooming houses. Rezoning potential exists given proximity to high-density development and recent upzoning activity nearby. Adding direct booking tech can also boost margins.
Real Estate
- Owned or Leased
- Owned
- Included in asking price
- Building Sq. Ft.
- 2,389
About the Sale
- Seller Motivation
- Refocusing on larger projects and consolidating operations closer to home.
- Transition Support
- Owner will provide transition support and training on existing systems, vendor relationships, OTA platforms, housekeeping process, and management handoff. Onsite manager available to remain in place or assist with transition if desired.
- Financing Options
- Seller financing may be available for strong, qualified buyers.
Listing Info
- ID
- 2402833
- Listing Views
- 430
Business Location
Listing ID: 2402833 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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