$1,485,000
$1,500,000
1.0%For more information regarding the value of a property, please contact us for a free consultation.
371 Water ST Excelsior, MN 55331
6 Beds
5 Baths
2,929 SqFt
Key Details
Sold Price $1,485,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 2,929 sqft
Price per Sqft $506
MLS Listing ID 5730388
Sold Date 08/11/21
Bedrooms 6
Full Baths 5
Year Built 1858
Annual Tax Amount $12,025
Tax Year 2020
Contingent None
Lot Size 0.440 Acres
Acres 0.44
Lot Dimensions 100 X 184
Property Description
This is a rare opportunity to live and/or work in the heart of the Excelsior village at the Bird House Inn property which is currently operating as a VRBO/Bed & Breakfast hybrid. Revenue from whole house rentals is on average 10% more than revenue generated from full occupancy in the B&B model. Structures include a 6 bed, 5 bath, 3,000 sq ft B&B structure built in 1858 and a 3 bed, 1 bath, 1,300 sq ft cottage built in 1990. The cottage is currently used as an owner's residence and includes a 2 car, attached, heated garage. All of this is set on a beautiful, private, .44 acre lot along prime, historic Water Street with an abundance of flat, green space and off street parking for up to 17 vehicles. The property has been vigorously maintained and extensively improved by the current owners. Improvements to the B&B structure include a new foundation, a new 1" water main, new 100 amp service and renovated bathrooms with heated floors and high end finishes. The cottage was renovated in 2015.
Location
State MN
County Hennepin
Zoning Business/Commercial
Rooms
Basement Full, Unfinished
Dining Room Breakfast Area, Informal Dining Room, Separate/Formal Dining Room
Interior
Heating Hot Water
Cooling Central Air
Fireplaces Number 5
Fireplaces Type Family Room, Gas, Living Room, Primary Bedroom, Other
Fireplace Yes
Appliance Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Washer
Exterior
Parking Features Detached, Asphalt, Floor Drain, Heated Garage, Insulated Garage, Paved, RV Access/Parking
Garage Spaces 4.0
Fence Partial, Wood
Pool None
Roof Type Age Over 8 Years,Asphalt
Building
Lot Description Corner Lot, Tree Coverage - Medium
Story Two
Foundation 1723
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Wood Siding
New Construction false
Schools
School District Minnetonka
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