For Sale: Minneapolis MLS# 7006922
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Property Description
Exceptional 20-Unit Investment Opportunity in Lowry Hill East - Walkable Uptown Location
Prime multifamily investment available in one of Minneapolis's most desirable neighborhoods - just steps from the vibrant Hennepin Avenue commercial district. This well-located 20-unit apartment building offers a balanced mix of units and strong rental demand in a walkable, amenity-rich area.
Property Highlights:
• 20 total units: 7 x 2-bedroom units, 7 x 1-bedroom units, and 6 studios
• Highly desirable Lowry Hill East location - a short stroll to Hennepin Avenue shops, restaurants, bars, and coffee houses
• Steps to Lake of the Isles - offering outstanding outdoor recreation, scenic walking/biking paths, and lakefront views
• Walkable Uptown neighborhood easy access to transit, retail services, entertainment venues, and employers
• Strong investment fundamentals - diverse unit mix appeals to a broad tenant base.
Location Features:
• Restaurants, bars, cafes, and boutiques just minutes away
• Quick access to Hennepin Avenue nightlife and Uptown commercial corridor
• Close to major employment centers, parks, and lakes
• Excellent walk and bike scores
This property combines location, occupancy potential, and lifestyle appeal in one of Minneapolis's most sought-after neighborhoods. Ideal for long-term hold or value-add investors.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,300,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1922
State:
MN
Property Style:
Other
Zip Code:
55408
Neighborhood/Area:
47
Subdivision Name:
Coe & Channells Add
Interior
Ceiling Height:
8-10
Flooring:
Engineered Hardwood, Luxury Vinyl Plank, Wood
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Block
- Full
- Unfinished
Exterior
Stories:
Three Or More
Garage Spaces:
0
Air Conditioning:
None
Foundation Size:
4,560 ft2
Fencing:
None
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
On-Street Parking Only
Unit Amenities:
- Hardwood Floors
- Natural Woodwork
- Security System
Road Frontage:
- City Street
- Curbs
- Sidewalks
- Storm Sewer
- Street Lights
Exterior Material:
Post and Beam
Roof Details:
- Age 8 Years or Less
- Flat
- Rubber
Lot & Land
Acres:
0.18
Geolocation:
44.952772, -93.297282
Inclusions:
Building, Fixture/Equipment
Lot Dimensions:
80 x 98
Zoning:
Residential-Multi-Family
Lot Description:
- Public Transit (w/in 6 blks)
- Tree Coverage - Light
Farm
Topography:
Level
Schools
School District:
558
District Phone:
6126680000
Expenses
Annual Electric Expense:
$17,667
Annual Maintenance Expense:
$32,332
Annual Trash Expense:
$6,385
Annual Water/Sewer Expense:
$12,048
Tenant Expenses:
Electricity, Gas
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$41,152
Lender-owned:
Not Disclosed
Assessment Pending:
Unknown
Taxes w/ Assessments:
$41,152
Income
Annual Gross Income:
$286,814
Rent
Annual Net Income:
$141,150
Units
Total Units:
20
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer - In Street
Available Utilities:
Electric Separate
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Edina Realty, Inc..
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.