$299,000
340 S Olive Street Waconia, MN 55387
Active Contingent MLS# 7109091
4 beds 3 baths 1,828 sq ft Multi-family
Details for 340 S Olive Street
MLS# 7109091
Description for 340 S Olive Street, Waconia, MN, 55387
Turnkey Duplex Steps from Downtown Waconia!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, 7/16 from 5–7 PM. Properties like this, with this level of care and updates in this location, don't last long.
Listing Information
Property Type: Multi-family, Duplex Up and Down
Status: Active Contingent-Inspection
Bedrooms: 4
Bathrooms: 3
Lot Size: 0.25 Acres
Square Feet: 1,828 sq ft
Year Built: 1924
Foundation: 1,024 sq ft
Garage: Yes
Stories: 2 Stories
Subdivision: Volkenants 3rd Add
Number Of Units Total: 2
County: Carver
Days On Market: 3
Construction Status: Previously Owned
School Information
District: 110 - Waconia
Interior Features
Square Footage above: 1,828 sq ft
Basement: Unfinished, Concrete Block
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Heating: Electric, Forced Air, Natural Gas
Exterior / Lot Features
Garage Spaces: 1
Parking Description: Detached Garage, Paved Lot, gravel lot, Garage Dimensions - 10x26, Garage Sq Ft - 260.0
Exterior: Vinyl
Roof: Asphalt Shingles
Lot Dimensions: 60x140
Zoning: Residential-Multi-Family
Additional Exterior/Lot Features: Road Frontage - City
Unit Information
Unit 1 Units Total: 1
Unit 1 Actual Rent: 1493
Unit 1 Baths Total: 1
Unit 1 Beds Total: 2
Unit 1 Rooms Total: 4
Unit 2 Units Total: 1
Unit 2 Actual Rent: 1793
Unit 2 Baths Total: 2
Unit 2 Beds Total: 2
Unit 2 Rooms Total: 7
Driving Directions
#212 to Olive to home
Financial Considerations
Tenant Pays: Electric,Lawn,Snow,Trash
Owner Pays: Gas,Insurance,Maintenance/Repair,Taxes,Water
Gross Income: 39432
Expense: 3475
Tax/Property ID: 755030050
Tax Amount: 4252
Tax Year: 2026
HomeStead Description: Non-Homesteaded
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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Edina Realty, Inc. are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail and detailed information about them includes the name of the listing brokers. Edina Realty, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Edina Realty, Inc., a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Open House information is subject to change without notice. Information deemed reliable but not guaranteed.
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Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 340 S Olive Street
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 340 S Olive Street
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The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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