For Sale: Minneapolis MLS# 7141393
Active
$2,400,000
Commercial: 2 Stories
Built 1968
0.34 acres
Minneapolis schools
MLS# 7141393
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Property Description
Outstanding value-add investment opportunity in South Minneapolis. This 100%-occupied, 21-unit apartment building at 2725 Pleasant Ave S (1 efficiency, 3 studio/1-bath, 15 one-bedrooms, 2 two-bedrooms, plus 25 surface parking spaces and on-site laundry) offers a buyer immediate cash flow with significant upside as rents move to market.
15 units have already been updated, including 5 with new bathrooms, the 21st unit is currently being renovated and reactivated for an added income stream. Major capital items are already addressed — a full roof and parapet wall rebuild ($350, 000, 2023) and a 2026 sewer main lining — plus fresh common-area paint and new hallway carpet on order.
A building-wide RUBS program was implemented within the past 12 months, shifting water/sewer, trash, and electric/gas costs to tenants, and the 25 parking spaces (currently free) offer a straightforward paid-parking upside.
Seller financing may be available for qualified buyers.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,400,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1968
State:
MN
Property Style:
2 Stories
Zip Code:
55408
Neighborhood/Area:
84
Subdivision Name:
J T Blaisdells Rev Add
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1 ft2
Handicap Accessible:
Other
Heating System:
Other
Parking Features:
Parking Lot
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.34
Geolocation:
44.952919, -93.282505
Inclusions:
Building, Leases
Lot Dimensions:
0
Zoning:
Business/Commercial
Schools
School District:
1
District Phone:
6126680000
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$34,164
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$34,164
Income
Annual Gross Income:
$201,000
Rent
Annual Net Income:
$97,000
Units
Total Units:
21
Miscellaneous
Current Use:
Residential
Fuel System:
Other
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
None Available
Water System:
City Water - In Street
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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 Fuze Real Estate.
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.