Property Listing
Description
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.
Property Information
Status: Active
Sub Type: ********
List Price: $299,000
MLS#: 7109091
Current Price: $299,000
Address: 340 S Olive Street, Waconia, MN 55387
City: Waconia
State: MN
Postal Code: 55387
Geo Lat: 44.846391
Geo Lon: -93.787956
Subdivision: Volkenants 3rd Add
County: Carver
Property Description
Year Built: 1924
Lot Size SqFt: 10454.4
Gen Tax: 4252
Specials Inst: 0
High School: Waconia
Square Ft. Source:
Above Grade Finished Area: 1828
Below Grade Finished Area: 0
Below Grade Unfinished Area:
Total SqFt.: 3028
Style: Array
Total Bedrooms: 4
Total Bathrooms: 3
Total Full Baths:
Garage Type:
Garage Stalls: 1
Waterfront:
Property Features
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Roof:
Foundation:
Lot Feat/Fld Plain:
Interior Amenities:
Inclusions: ********
Exterior Amenities:
Heat System:
Air Conditioning:
Utilities: