For Sale: Minneapolis MLS# 6428729
1 / 16
Active
$1,900,000
Commercial: Apartments
Built 1902
0.23 acres
Minneapolis schools
MLS# 6428729
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
THIS IS BASICALLY A BRAND NEW BUILDING WITH A BEAUTIFUL BROWNSTONE SHELL !
A return to the pre-covid use of short term stays will be the likely course of action for a new owner. The income was up to $229, 000. There are many short term stay platforms now; not just AIRBNB. CONTRACT FOR DEED TERMS AVAILABLE!
The owner started out with 12 worn out apartments, gutted the entire building, and put in 6 brand new apartments / condominiums. The units are set up so they can be condos with the values showing up as $450, 000 to $480, 000.
It is very energy efficient; it was insulted with spray foam and has solar panels.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,900,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1902
State:
MN
Property Style:
Apartments
Zip Code:
55404
Neighborhood/Area:
Ventura Village
Subdivision Name:
J S & W Elliots Add
Interior
Ceiling Height:
8-10
Ranges:
Six or More
Refrigerators:
Six or More
Appliances Included:
- Dishwasher
- Dryer
- Exhaust Fan
- Microwave
- Range
- Refrigerator
- Stainless Steel Appliances
- Washer
Basement Details:
- Finished
- Full
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
6
Air Conditioning:
Central Air
Foundation Size:
2,947 ft2
Handicap Accessible:
Partially Wheelchair
Heating System:
Forced Air
Parking Features:
- Carport
- Concrete
- Covered
- More Parking Offsite for Fee
- Paved
Shared Amenities:
- Common Garden
- Patio
- Security
Unit Amenities:
- City View
- Ethernet Wired
- In-Ground Sprinkler
Exterior Material:
Brick/Stone
Lake & Waterfront
Waterfront View:
City Lights
Lot & Land
Acres:
0.23
Geolocation:
44.964977, -93.258636
Inclusions:
Building, Fixture/Equipment, Other
Lot Dimensions:
150 x 68
Zoning:
Residential-Multi-Family
Lot Description:
- Corner Lot
- Public Transit (w/in 6 blks)
- Tree Coverage - Medium
Farm
Topography:
Level
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Electric Expense:
$4,800
Annual Fuel Expense:
$1,800
Annual Insurance Expense:
$10,500
Annual Trash Expense:
$2,160
Annual Water/Sewer Expense:
$3,600
Tenant Expenses:
Cable TV, Electricity, Fuel
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$19,003
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$19,003
Units
Total Units:
6
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
Water System:
City Water/Connected
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
| 2026 | $15,530 | $105,454 | $120,984 | $1,504,470 |
| 2027 | $16,647 | $104,336 | $120,984 | $1,487,823 |
| 2028 | $17,846 | $103,138 | $120,984 | $1,469,977 |
| 2029 | $19,130 | $101,854 | $120,984 | $1,450,847 |
| 2030 | $20,507 | $100,477 | $120,984 | $1,430,340 |
| 2031 | $21,983 | $99,001 | $120,984 | $1,408,358 |
| 2032 | $23,565 | $97,419 | $120,984 | $1,384,793 |
| 2033 | $25,261 | $95,723 | $120,984 | $1,359,532 |
| 2034 | $27,079 | $93,905 | $120,984 | $1,332,454 |
| 2035 | $29,028 | $91,956 | $120,984 | $1,303,426 |
| 2036 | $31,117 | $89,867 | $120,984 | $1,272,310 |
| 2037 | $33,356 | $87,628 | $120,984 | $1,238,953 |
| 2038 | $35,757 | $85,227 | $120,984 | $1,203,197 |
| 2039 | $38,330 | $82,654 | $120,984 | $1,164,866 |
| 2040 | $41,089 | $79,895 | $120,984 | $1,123,778 |
| 2041 | $44,046 | $76,938 | $120,984 | $1,079,732 |
| 2042 | $47,216 | $73,768 | $120,984 | $1,032,516 |
| 2043 | $50,614 | $70,370 | $120,984 | $981,901 |
| 2044 | $54,257 | $66,727 | $120,984 | $927,644 |
| 2045 | $58,162 | $62,822 | $120,984 | $869,483 |
| 2046 | $62,348 | $58,636 | $120,984 | $807,135 |
| 2047 | $66,835 | $54,149 | $120,984 | $740,300 |
| 2048 | $71,645 | $49,339 | $120,984 | $668,655 |
| 2049 | $76,801 | $44,183 | $120,984 | $591,854 |
| 2050 | $82,329 | $38,655 | $120,984 | $509,525 |
| 2051 | $88,254 | $32,730 | $120,984 | $421,271 |
| 2052 | $94,606 | $26,378 | $120,984 | $326,665 |
| 2053 | $101,414 | $19,569 | $120,984 | $225,251 |
| 2054 | $108,713 | $12,271 | $120,984 | $116,537 |
| 2055 | $116,537 | $4,446 | $120,984 | $0 |
Listing provided by RMLS,
courtesy of Bridge Realty, LLC.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.