340 S Olive ST Waconia, MN 55387
4 Beds
3 Baths
1,828 SqFt
Open House
Thu Jul 16, 5:00pm - 7:00pm
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex Up and Down
Listing Status Active
Purchase Type For Sale
Square Footage 1,828 sqft
Price per Sqft $163
Subdivision Volkenants 3Rd Add
MLS Listing ID 7109091
Bedrooms 4
Year Built 1924
Annual Tax Amount $4,252
Tax Year 2026
Contingent None
Lot Size 10,715 Sqft
Lot Dimensions 60x140
Property Sub-Type Duplex Up and Down
Property Description
Welcome to 340 Olive St, a beautifully updated two-unit property just blocks from Waconia's charming downtown — shops, restaurants, Lake Waconia, and community events all within easy walking distance. This is a rare opportunity to own a fully renovated multifamily home with immediate cash flow and flexibility for an owner-occupant or investor.
The main-level unit is a spacious 2BR/2BA currently leased at $1,793/month total (rent + utilities/pet fees), generating reliable income from day one. Recent upgrades include fresh paint, new trim, updated bathroom with new flooring and vanity, electric radiant heaters, a converted den now used as a bath, an added bedroom, new sub-panel, spray foam insulation, a full re-pipe to PEX, new LVP flooring throughout the kitchen and entry, a new water softener, and more — nearly every major system and finish has been touched since 2023.
The upper unit (340 ½) just became available, offering a fantastic opportunity to set market rent or move in yourself. This unit has refinished hardwood floors, quartz kitchen countertops, all-new stainless appliances, an updated kitchen sink and disposal, new LVP flooring and a newer flat roof membrane.
Landlord-paid water and gas average just $150/month, keeping expenses predictable.
Don't miss the Open House Thursday, 7/17 from 5–7 PM. Properties like this, with this level of care and updates in this location, don't last long.
Location
State MN
County Carver
Zoning Residential-Multi-Family
Rooms
Basement Block, Unfinished
Interior
Heating Forced Air
Fireplace No
Exterior
Parking Features Detached Garage, Gravel, Paved Lot
Garage Spaces 1.0
Fence None
Pool None
Roof Type Asphalt
Building
Story Two
Foundation 1024
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
New Construction false
Schools
School District Waconia