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For Sale:  Fridley MLS# 7098679

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Active
$715,000
/mo Edit
Commercial:  2 Stories
10 br • 5 ba • Built 1918
0.52 acres
Spring Lake Park schools
MLS# 7098679
763-576-8286
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    Property Description

    Updated 5-Unit Multifamily Investment Property in Fridley Excellent opportunity to acquire a well-maintained and updated 5-unit residential rental property in Fridley featuring all 2-bedroom, 1-bathroom apartment homes. Each unit has been thoughtfully updated with modern kitchens and bathrooms, creating strong tenant appeal and a clean, move-in-ready rental experience. The property offers a practical unit mix with five spacious 2-bedroom apartments, six garage stalls, and multiple designated off-street parking spaces. These features provide added convenience for residents and valuable income-supporting amenities for ownership. All units have existing leases, some are month-month. Located at 1200 Norton Avenue NE in Fridley, this multifamily asset offers convenient access to major roadways, employment centers, shopping, dining, parks, and everyday services throughout the north metro. With updated interiors, garage parking, designated parking, and a desirable all-2-bedroom configuration, this property is well-positioned for an investor seeking a stabilized residential rental asset with long-term income potential. A strong addition to an investment portfolio, this 5-unit property combines updated residential living spaces, functional parking, and a location within the established Fridley rental market.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $715,000
    Property Type: Commercial
    City: Fridley
    Garage Spaces: 6
    County: Anoka
    Year Built: 1918
    State: MN
    Property Style: 2 Stories
    Zip Code: 55432
    Subdivision Name: Auditors Sub 89

    Interior

    Bedrooms: 10
    Bathrooms: 5
    Refrigerators: Five
    Appliances Included:
    • Dishwasher
    • Range
    • Refrigerator
    Basement Details:
    • Egress Window(s)
    • Finished
    • Full
    • Walkout

    Exterior

    Stories: Two
    Garage Spaces: 6
    Garage Size: 1,400 ft2
    Garage Door Height: 7
    Garage Door Width: 8
    Air Conditioning: Window Unit(s)
    Foundation Size: 1,176 ft2
    Fencing: Wood
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Forced Air
    Parking Features:
    • Asphalt
    • Assigned
    • Attached Garage
    • Detached Garage
    • Tuckunder Garage
    Unit Amenities:
    • Deck
    • Kitchen Window
    • Natural Woodwork
    Road Frontage:
    • City Street
    • Cul De Sac
    • Paved Streets
    Exterior Material: Frame
    Pool: None

    Rooms

    Shared Rooms: Guest Suite

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.52
    Geolocation: 45.097076, -93.241425
    Inclusions: Leases
    Lot Dimensions: 124 x 27 x 144 x 134 x 170
    Zoning: Residential-Multi-Family

    Schools

    School District: 16
    District Phone: 7637865570

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $960
    Annual Fuel Expense: $2,160
    Annual Maintenance Expense: None
    Annual Trash Expense: $1,800
    Annual Water/Sewer Expense: $180
    Tenant Expenses: All Utilities

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $9,960
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $9,960

    Income

    Annual Gross Income: $88,800

    Rent

    Annual Net Income: $83,040

    Units

    Total Units: 5

    Miscellaneous

    Current Use: Residential
    Fuel System: Natural Gas
    Owner Occupied: Yes
    Sewer System:
    • City Sewer - In Street
    • City Sewer/Connected
    Available Utilities: Electric Separate
    Water System: City Water - In Street

    Mortgage Calculator

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    Payment:  /mo

    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!

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    Listing provided by RMLS, courtesy of Exit Realty Nexus.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.