For Sale: Minneapolis MLS# 6428729
Active
$1,900,000
Commercial: Apartments
Built 1902
0.23 acres
Minneapolis schools
MLS# 6428729
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Property Description
THIS IS BASICALLY A BRAND NEW BUILDING WITH A BEAUTIFUL BROWNSTONE SHELL !
A return to the pre-covid use of short term stays will be the likely course of action for a new owner. The income was up to $229, 000. There are many short term stay platforms now; not just AIRBNB. CONTRACT FOR DEED TERMS AVAILABLE!
The owner started out with 12 worn out apartments, gutted the entire building, and put in 6 brand new apartments / condominiums. The units are set up so they can be condos with the values showing up as $450, 000 to $480, 000.
It is very energy efficient; it was insulted with spray foam and has solar panels.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,900,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1902
State:
MN
Property Style:
Apartments
Zip Code:
55404
Neighborhood/Area:
Ventura Village
Subdivision Name:
J S & W Elliots Add
Interior
Ceiling Height:
8-10
Ranges:
Six or More
Refrigerators:
Six or More
Appliances Included:
- Dishwasher
- Dryer
- Exhaust Fan
- Microwave
- Range
- Refrigerator
- Stainless Steel Appliances
- Washer
Basement Details:
- Finished
- Full
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
6
Air Conditioning:
Central Air
Foundation Size:
2,947 ft2
Handicap Accessible:
Partially Wheelchair
Heating System:
Forced Air
Parking Features:
- Carport
- Concrete
- Covered
- More Parking Offsite for Fee
- Paved
Shared Amenities:
- Common Garden
- Patio
- Security
Unit Amenities:
- City View
- Ethernet Wired
- In-Ground Sprinkler
Exterior Material:
Brick/Stone
Lake & Waterfront
Waterfront View:
City Lights
Lot & Land
Acres:
0.23
Geolocation:
44.964977, -93.258636
Inclusions:
Building, Fixture/Equipment, Other
Lot Dimensions:
150 x 68
Zoning:
Residential-Multi-Family
Lot Description:
- Corner Lot
- Public Transit (w/in 6 blks)
- Tree Coverage - Medium
Farm
Topography:
Level
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Electric Expense:
$4,800
Annual Fuel Expense:
$1,800
Annual Insurance Expense:
$10,500
Annual Trash Expense:
$2,160
Annual Water/Sewer Expense:
$3,600
Tenant Expenses:
Cable TV, Electricity, Fuel
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$19,003
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$19,003
Units
Total Units:
6
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
Water System:
City Water/Connected
Mortgage Calculator
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Local Home Mortgage Professionals
651-253-2144
Jason & Kim Stone
Branch Manager & Co-Branch Manager
Fairway Mortgage NMLS#1018649
Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
It would be our pleasure to assist you with your home purchase!
Listing provided by RMLS,
courtesy of Bridge Realty, LLC.
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.