For Sale: Minneapolis MLS# 6675618
Active
$1,100,000
Commercial: Other
Built 1959
0.19 acres
Minneapolis schools
MLS# 6675618
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Property Description
Great cash flowing investment opportunity for sale in Minneapolis! This 11 unit apartment building has 1-bedroom and 1-bathroom in each unit. This building has been very well maintained and has
over $200k in recent capital improvements! Each unit has been updated along with all the common areas. Recent building improvements include a concrete surface parking lot, high efficiency boiler and zone valves, roof, gutters, soffits, downspouts, windows, new electrical panels in each unit and
separately metered electrical. Conveniently located close to restaurants, highways, public transportation, shopping, parks and more. Don�??t miss this opportunity to own a quality multifamily
property!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,100,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1959
State:
MN
Property Style:
Other
Zip Code:
55407
Neighborhood/Area:
Bancroft
Subdivision Name:
Monroe Bros Sub Of Lts Herrick Haml
Interior
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Cooktop
- Range
- Refrigerator
- Wall Oven
Exterior
Garage Spaces:
0
Other Parking Spaces:
11
Air Conditioning:
Wall Unit(s)
Foundation Size:
2,624 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
- Concrete
- Other
Shared Amenities:
Coin-op Laundry Owned
Unit Amenities:
- Hardwood Floors
- Kitchen Window
- Natural Woodwork
- Tile Floors
Exterior Material:
Brick/Stone
Roof Details:
Age 8 Years or Less
Lot & Land
Acres:
0.19
Geolocation:
44.933911, -93.251944
Inclusions:
Building, Fixture/Equipment, Land, Leases
Lot Dimensions:
92 x 92 x 92 x 92
Zoning:
- Business/Commercial
- Residential-Multi-Family
Lot Description:
Public Transit (w/in 6 blks)
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Caretaker Expense:
$4,800
Annual Electric Expense:
$420
Annual Insurance Expense:
$6,500
Annual Maintenance Expense:
$3,000
Annual Gross Expense:
$41,673
Annual Trash Expense:
$2,340
Annual Water/Sewer Expense:
$3,288
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$15,916
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$15,916
Income
Annual Gross Income:
$125,640
Rent
Annual Net Income:
$80,898
Units
Total Units:
11
Miscellaneous
Current Use:
- Commercial
- Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
Mortgage Calculator
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Listing provided by RMLS,
courtesy of Keller Williams Classic Rlty NW.
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.