For Sale: Minneapolis MLS# 6583651
Active Contingent
$1,200,000
Commercial: Apartment,Low Rise
Built 1959
0.19 acres
Minneapolis schools
MLS# 6583651
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Property Description
Great cash flowing investment opportunity for sale in Minneapolis! This 11 unit apartment building has 1-bedroom and 1-bathroom in each unit. This building has been very well maintained and has over $200k in recent capital improvements! Each unit has been updated along with all the common areas. Recent building improvements include a concrete surface parking lot, high efficiency boiler and zone valves, roof, gutters, soffits, downspouts, windows, and separately metered electrical. Conveniently located close to restaurants, highways, public transportation, shopping, parks and more. Donâ??t miss this opportunity to own a quality multifamily property!**This property is available, waiting on signed cancellation from a previously written PA**
Listing
Listing Status:
Active Contingent
Contingency:
Other
List Price:
$1,200,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1959
State:
MN
Property Style:
Apartment, Low Rise
Zip Code:
55407
Neighborhood/Area:
Bancroft
Subdivision Name:
Monroe Bros Sub Of Lts Herrick Haml
Interior
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Cooktop
- Range
- Refrigerator
- Wall Oven
Exterior
Stories:
Three Or More
Garage Spaces:
0
Other Parking Spaces:
11
Air Conditioning:
Wall Unit(s)
Foundation Size:
2,624 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
- Concrete
- Other
Shared Amenities:
Coin-op Laundry Owned
Unit Amenities:
- Hardwood Floors
- Kitchen Window
- Natural Woodwork
- Tile Floors
Exterior Material:
Brick/Stone
Roof Details:
Age 8 Years or Less
Lot & Land
Acres:
0.19
Geolocation:
44.933911, -93.251944
Inclusions:
Building, Fixture/Equipment, Land, Leases
Lot Dimensions:
92 x 92 x 92 x 92
Zoning:
- Business/Commercial
- Residential-Multi-Family
Lot Description:
Public Transit (w/in 6 blks)
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Electric Expense:
$420
Annual Insurance Expense:
$6,500
Annual Gross Expense:
$37,661
Annual Trash Expense:
$2,340
Annual Water/Sewer Expense:
$3,288
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$15,916
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$15,916
Income
Annual Gross Income:
$138,343
Rent
Annual Net Income:
$100,529
Units
Total Units:
11
Miscellaneous
Current Use:
- Commercial
- 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
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 Keller Williams Classic Rlty NW.
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.