For Sale: Minneapolis MLS# 7168478
Active
NEW!
$675,000
Commercial: Other
Built 1961
0.14 acres
Minneapolis schools
MLS# 7168478
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Property Description
Spectacular six-unit apartment complex with large units and a mix of four two-bedroom and two one-bedroom floorplans. Three story all-brick exterior, sitting on 0.14+ acres with an off street parking lot. 100% fully rented with on-site coin operated laundry and a newer water heater and high efficiency boiler. Average one-bedroom rents are $1, 100 and two-bedroom at $1, 300. This asset is centrally located next to Powderhorn Park and a stabilized in-place cap rate of 7.67% along with a 7.40 gross multiplier
Listing
Listing Status:
Active
Contingency:
None
List Price:
$675,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1961
State:
MN
Property Style:
Other
Zip Code:
55407
Neighborhood/Area:
64
Subdivision Name:
Bloomington Ave Add
Interior
Ceiling Height:
8-10
Flooring:
Carpet, Wood
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Finished
- Full
- Storage/Locker
Exterior
Stories:
Three Or More
Garage Spaces:
0
Air Conditioning:
Wall Unit(s)
Foundation Size:
2,200 ft2
Fencing:
None
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Boiler
- Hot Water
Parking Features:
Parking Lot
Unit Amenities:
- Cable
- Ceiling Fan(s)
- Hardwood Floors
- Tile Floors
Road Frontage:
City Street
Pool:
None
Roof Details:
- Age Over 8 Years
- Flat
- Rubber
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.14
Geolocation:
44.940522, -93.252837
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
50 x 123
Zoning:
Residential-Multi-Family
Lot Description:
Tree Coverage - Light
Farm
Topography:
Hilly
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$576
Annual Fuel Expense:
$2,268
Annual Insurance Expense:
$4,260
Annual Maintenance Expense:
None
Annual Trash Expense:
$2,724
Annual Water/Sewer Expense:
$10,080
Tenant Expenses:
Broadband, Electricity
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$14,699
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$14,699
Income
Annual Gross Income:
$91,200
Rent
Annual Net Income:
$51,792
Units
Total Units:
6
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
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 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.