For Sale: Minneapolis MLS# 6652619
Active Contingent
$920,000
Commercial: Apartments
Built 1900
0.25 acres
Minneapolis schools
MLS# 6652619
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Property Description
Come see this fully stabilized 7-unit property in a great location in SE Minneapolis. Every unit in this building has been rehabbed within the last few years. Solid rents in place, but there is definitely room for rent bumps. This property's proximity to the U of M campus and downtown gives it a strong student rental base. The back parking lot has recently been redone to add extra parking spaces for tenants. Come and drive by the property! It sits in a quiet neighborhood while still being just blocks away from some of Minneapolis's best restaurants.
Listing
Listing Status:
Active Contingent
Contingency:
Other
List Price:
$920,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1900
State:
MN
Property Style:
Apartments
Zip Code:
55414
Neighborhood/Area:
Marcy Holmes
Subdivision Name:
Mill Cos Add To St Anthony Falls
Exterior
Garage Spaces:
0
Other Parking Spaces:
9
Air Conditioning:
Window Unit(s)
Foundation Size:
2,221 ft2
Handicap Accessible:
None
Heating System:
Hot Water
Parking Features:
Paved
Shared Amenities:
Patio
Exterior Material:
Vinyl Siding
Lot & Land
Acres:
0.25
Geolocation:
44.988002, -93.247182
Inclusions:
Building, Leases
Lot Dimensions:
66 x 165
Zoning:
Business/Commercial
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Electric Expense:
$9,276
Annual Fuel Expense:
$6,204
Annual Insurance Expense:
$5,040
Annual Maintenance Expense:
$20,627
Annual Gross Expense:
$63,708
Annual Water/Sewer Expense:
$7,128
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$14,300
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$14,300
Income
Annual Gross Income:
$102,299
Rent
Annual Net Income:
$38,591
Units
Total Units:
7
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Keller Williams Premier Realty.
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.