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Active Contingent
$499,900
/mo Edit
Commercial:  2 Stories
Built 1911
0.17 acres
Minneapolis schools
MLS# 6653574
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    Property Description

    Unique opportunity to own nearly 1/4 city block in MPLS! Mixed-use building - currently 2 units on main floor rented by the same long term tenant $2500/month - steady & reliable income. They would prefer to stay. 2 Residential apartments above - 1BR apartment on north side is month to month - $750 (under market). Very large & unique studio apartment is owner occupied with 12 foot ceilings & large roof top deck shared with the other one bedroom apartment - could easily rent for $1250-1500 & could be a 2-3 BR with some additional framing. Large unfinished space in the basement could be added as FSF to the commercial space or be turned into another unit. 4 car+ garage is currently used by the owners, but has been rented to neighbors/tenants in the past for additional income. Close date is flexible.

    Listing

    Contingency: Inspection
    City: Minneapolis
    County: Hennepin
    State: MN
    Property Style: 2 Stories
    Zip Code: 55404
    Neighborhood/Area: Ventura Village
    Subdivision Name: Eliots Add

    Interior

    Ranges: Two
    Refrigerators: Two
    Basement Details: Full

    Exterior

    Stories: Two
    Garage Spaces: 4
    Other Parking Spaces: 4
    Air Conditioning: Central Air
    Foundation Size: 3,103 ft2
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Forced Air
    Parking Features:
    • Concrete
    • Detached
    • Other
    Road Frontage: City Street
    Exterior Material: Brick/Stone
    Roof Details:
    • Flat
    • Pitched
    • Tar/Gravel

    Lot & Land

    Acres: 0.17
    Geolocation: 44.960293, -93.253321
    Inclusions: Building, Land, Leases
    Lot Dimensions: 56 x 134
    Zoning:
    • Business/Commercial
    • Residential-Multi-Family
    Lot Description:
    • Corner Lot
    • Public Transit (w/in 6 blks)

    Schools

    School District: 1
    District Phone: 612-668-0000

    Expenses

    Annual Insurance Expense: $6,300
    Annual Water/Sewer Expense: $1,200
    Tenant Expenses: Electricity, Gas

    Financial & Taxes

    Tax Year: 2024
    Annual Taxes: $6,688
    Lender-owned: No
    Assessment Pending: Unknown
    Taxes w/ Assessments: $8,484

    Income

    Annual Gross Income: $54,000

    Rent

    Annual Net Income: $41,682

    Units

    Total Units: 4

    Miscellaneous

    Current Use:
    • Commercial
    • Residential
    Fuel System: Natural Gas
    Owner Occupied: Yes
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Separate
    • Heating Separate
    • Hot Water Separate
    Water System: City Water/Connected

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    Listing provided by RMLS, courtesy of RE/MAX Results.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.