For Sale: Minneapolis MLS# 6696313
Active
NEW!
$1,895,000
Commercial: Other
Built 1970
0.22 acres
Minneapolis schools
MLS# 6696313
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Property Description
Prime Investment Opportunity: 16-Unit Multifamily Building in the Heart of SE Minneapolis. Presenting an exceptional investment opportunity in one of Minneapolisâ?? most sought-after neighborhoods, this well-maintained 16-unit multifamily property offers consistent rental income and significant potential for future appreciation. Located in the vibrant and highly desirable Southeast Minneapolis area, this property is ideally positioned near the University of Minnesota, making it an attractive option for student housing, professionals, and long-term renters alike. 16 remodeled rental units: A mix of 10 micro suites, 5 one bedroom units and a 2-bedroom unit, offering a variety of living options to suit diverse tenants. Just minutes from the University of Minnesota campus, major highways, downtown Minneapolis, and abundant local amenities such as restaurants, parks, and shops. Steady income potential: Current rent roll offers strong cash flow with opportunities for rent increases and value-add improvements. Strong rental demand: The propertyâ??s proximity to educational institutions and thriving local businesses ensures a steady stream of tenants.Updated systems and maintenance: Recent updates to key building systems including plumbing, electrical, and new Boiler in 2025, ensuring long-term durability and minimizing immediate capital expenditures. 11 Off-street parking spots: Convenient parking for tenants. Well-maintained common areas: The building is in great condition with a clean, secure environment for residents. Strong rental market: The Southeast Minneapolis rental market continues to thrive, making this an ideal property for both seasoned investors and those looking to enter the market. Rents have increased with room for growth. This property represents a rare chance to own a multi-family asset in one of Minneapolis' most dynamic and growing neighborhoods. Whether you're a seasoned investor or new to the market, the 16-unit building at 1115 14th Ave SE offers a compelling mix of location, opportunity, and solid return potential. Donâ??t miss out on this outstanding opportunity.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,895,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1970
State:
MN
Property Style:
Other
Zip Code:
55414
Neighborhood/Area:
Como
Subdivision Name:
Elwells 2nd Add
Interior
Ceiling Height:
8-10
Appliances Included:
- Cooktop
- Range
- Refrigerator
Exterior
Stories:
Three Or More
Garage Spaces:
0
Other Parking Spaces:
9
Air Conditioning:
Wall Unit(s)
Foundation Size:
2,814 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
Parking Lot
Shared Amenities:
Coin-op Laundry Owned
Unit Amenities:
Cable
Exterior Material:
Fiber Cement
Roof Details:
Age 8 Years or Less
Lot & Land
Acres:
0.22
Geolocation:
44.991213, -93.232423
Inclusions:
Fixture/Equipment, Leases
Lot Dimensions:
72 x 132
Zoning:
- Business/Commercial
- Residential-Multi-Family
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$600
Annual Fuel Expense:
$9,600
Annual Insurance Expense:
$8,100
Annual Maintenance Expense:
$3,800
Annual Gross Expense:
$64,827
Annual Trash Expense:
$4,855
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$25,131
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$25,131
Income
Annual Gross Income:
$189,558
Rent
Annual Net Income:
$124,731
Units
Total Units:
16
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Morgan And Trust 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.