195 Iris Street, Mahtomedi, MN 55115

Property Description

Exceptional opportunity to own a rare duplex in the heart of Mahtomedi, just five blocks from White Bear Lake and located in the highly rated Mahtomedi School District. Ideal for owner-occupants or investors alike, live in one unit while generating income from the other. While the units are close mirrors of each other, the vacant unit is equipped with four bedrooms and two bathrooms while the rented unit has three bedrooms and one bathroom. Recent improvements add significant value and peace of mind, including sewer line replacement in 2025 a new roof in 2023. The vacant unit has been updated with fresh interior paint, new flooring, new range, new air conditioning system, new water heater, all new closet doors and some new interior doors. Driveway replaced in 2020. Both units include finished lower levels with walkout access and separate private entrances, creating excellent separation, added functionality, and potential for multi-generational living or enhanced rental value. Set on a desirable corner lot near the lake, schools, parks, and local amenities, this is a rare opportunity to own a versatile property in one of Mahtomedi's most sought-after neighborhoods. Vacant unit was previously rented for $2300 per month and leased unit is in a month to month lease at $1950 per month.