371 Water Street, Excelsior, MN 55331

$1,485,000
6
BD
5
BA
2,929
SqFt
Sold Price
$1,485,000
List Price
$1,500,000
Days on Market
92
Closing Date
Aug 11, 2021
MLS#
5730388
Status
CLOSED
Type
Single Family Residential
Style
(SF) Single Family
Bedrooms
6
Bathrooms
5
Living Area
2,929
Lot Size
19,166
Acres
0.44
Year Built
1858

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.

Additional Information

School District
Minnetonka
Amenities Unit
Balcony, Ceiling Fan(s), Deck, Hardwood Floors, Kitchen Window, Patio, Porch, Tiled Floors, Walk-In Closet, Natural Woodwork, Kitchen Center Island, Paneled Doors, Main Floor Master Bedroom, Washer/Dryer Hookup
Appliances
Range, Microwave, Dishwasher, Refrigerator, Disposal, Washer, Dryer
Tax Amount
$12,025
Tax Year
2020
Fencing
Wood, Partial
Fuel
Natural Gas
Lot Description
Corner Lot, Tree Coverage - Medium
Sewer
City Sewer/Connected
Roof
Asphalt, Age Over 8 Years
Air Conditioning
Central Air
Heating
Hot Water
Num Fireplaces
5
Fireplace
Living Room, Family Room, Gas, Other, Master Bedroom
Pool
Yes
Water
City Water/Connected
Out Buildings
Guest House
Basement
Unfinished, Full
Parking
Detached, Asphalt, Insulated Garage, Heated Garage, Paved, RV Access/Parking, Floor Drain
Garage Spaces
4

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Leyendecker Realty. Selling Office: .

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