For Sale: Minneapolis MLS# 7037156
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
Attractive 21-unit in the highly sought after Whittier Park neighborhood of Minneapolis, Minnesota. All brick and stucco exterior built in 1966 with great curb appeal. The unit mix features two well appointed 2-bedrooms, fifteen large 1-bedrooms, and four studios. Most of the apartments have been renovated including newer kitchens, bathrooms, luxury vinyl plank flooring, lighting fixtures, and updated appliance packages. The property has newer double pane vinyl replacement windows, two energy efficient hot water boilers, and newer coin operated laundry machines. Close proximity to the Minneapolis College of Art & Design (MCAD), Mpls. Institute of Arts Museum, and downtown Minneapolis. Proforma NOI $187, 179 with a cap rate 7.42%.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,520,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1966
State:
MN
Property Style:
Other
Zip Code:
55408
Neighborhood/Area:
84
Subdivision Name:
J T Blaisdells Rev Add
Interior
Ceiling Height:
8-10
Flooring:
Carpet, Luxury Vinyl Plank, Tile, Vinyl, Wood
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Block
- Egress Window(s)
- Finished
- Full
- Storage/Locker
Exterior
Stories:
Three Or More
Garage Spaces:
0
Air Conditioning:
Wall Unit(s)
Foundation Size:
6,900 ft2
Fencing:
Partial
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Boiler
- Hot Water
Parking Features:
Paved Lot
Unit Amenities:
- Kitchen Center Island
- Tile Floors
Road Frontage:
- City Street
- Paved Streets
- Sidewalks
Exterior Material:
- Brick
- Frame
Pool:
None
Roof Details:
- Age Over 8 Years
- Flat
- Tar/Gravel
Lot & Land
Acres:
0.32
Geolocation:
44.954254, -93.282494
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
85 x 165
Zoning:
Residential-Multi-Family
Lot Description:
Tree Coverage - Light
Farm
Topography:
Level
Schools
School District:
558
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
$2,400
Annual Electric Expense:
$3,240
Annual Fuel Expense:
$6,712
Annual Insurance Expense:
$8,500
Annual Maintenance Expense:
$6,300
Annual Trash Expense:
$2,730
Annual Water/Sewer Expense:
$11,000
Tenant Expenses:
Broadband, Electricity
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$34,094
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$34,094
Income
Annual Gross Income:
$265,906
Rent
Annual Net Income:
$187,179
Units
Total Units:
21
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
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
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 Apartment Cash Flow, 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.