For Sale: Minneapolis MLS# 6612328
Active Contingent
$1,449,000
Commercial: Apartment,Low Rise
Built 1910
0.14 acres
Minneapolis schools
MLS# 6612328
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Property Description
Price Reduced - Fully leased with nearly an 8% Cap Rate! Several units were just renovated with new kitchens and baths. Bring all offers to this 7-Unit Multifamily Building For Sale near the Lakes in South Minneapolis! Renovated & huge 3+ bedroom, 1, 300+ square foot units. Beautiful hardwood floors, 3 season porches, exposed brick & great natural light throughout. Rear room off the kitchen could be a 4th bedroom, dining room, or office. One legal and large garden level unit. Total building size of about 10, 800 square feet. Tenants pay all utilities and each unit has new separately metered high efficiency gas boilers for hot water baseboard heat. 5 off-street parking stalls for additional income.
Listing
Listing Status:
Active Contingent
Contingency:
Inspection
List Price:
$1,449,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1910
State:
MN
Property Style:
Apartment, Low Rise
Zip Code:
55408
Neighborhood/Area:
Lowry Hill East
Subdivision Name:
Kings Add
Interior
Basement Details:
Partially Finished
Exterior
Garage Spaces:
0
Other Parking Spaces:
5
Foundation Size:
2,700 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
- Open
- Paved
Exterior Material:
Brick/Stone
Lot & Land
Acres:
0.14
Geolocation:
44.954026, -93.2966
Inclusions:
Building, Land, Leases
Lot Dimensions:
47 x 129
Zoning:
- Business/Commercial
- Residential-Multi-Family
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Tenant Expenses:
All Utilities
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$21,359
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$21,359
Units
Total Units:
7
Miscellaneous
Current Use:
- Commercial
- 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
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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 RE/MAX Results.
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.