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For Sale:  Minneapolis MLS# 6624560

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Active
$1,200,000
/mo Edit
Commercial:  Apartments
Built 1959
0.12 acres
Minneapolis schools
MLS# 6624560
763-576-8286
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    Property Description

    MOTIVATED SELLER - Encouraging Offers! Located in the heart of the Whittier neighborhood, this beautifully renovated 8-unit apartment presents an exceptional investment opportunity - featuring a unit mix of seven x one-bedroom units and one x studio, along with five parking stalls. With a mix of long-term tenants and fully furnished mid-term and short-term units, this property is already generating strong income, grossing north of $11, 000 per month, representing an in-place cap rate of 7.81%! The property has undergone an extensive renovation, addressing everything from the exterior façade and landscaping to the common areas and in-unit upgrades. Each unit is tastefully updated, ensuring a modern living experience for all residents. Whether you're looking to expand your portfolio or seeking a solid investment in a vibrant Minneapolis neighborhood, 2700 Garfield Avenue South offers a rare blend of immediate income and long-term value appreciation. Donâ??t miss out on this well-maintained, high-performing asset in one of the city's most sought-after areas!

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $1,200,000
    Property Type: Commercial
    City: Minneapolis
    Garage Spaces: 0
    County: Hennepin
    Year Built: 1959
    State: MN
    Property Style: Apartments
    Zip Code: 55408
    Neighborhood/Area: Whittier
    Subdivision Name: Hedderly & Mcgreggors Add

    Exterior

    Garage Spaces: 0
    Other Parking Spaces: 5
    Foundation Size: 2,664 ft2
    Handicap Accessible: None
    Heating System:
    • Boiler
    • Hot Water
    Parking Features: Driveway - Other Surface
    Exterior Material: Brick/Stone

    Lot & Land

    Acres: 0.12
    Geolocation: 44.953605, -93.287132
    Inclusions: Fixture/Equipment
    Lot Dimensions: 118' x 42'
    Zoning: Business/Commercial

    Schools

    School District: 1
    District Phone: 612-668-0000

    Financial & Taxes

    Tax Year: 2024
    Annual Taxes: $16,315
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $16,315

    Units

    Total Units: 8

    Miscellaneous

    Current Use: Residential
    Fuel System: Natural Gas
    Sewer System: City Sewer/Connected
    Available Utilities: None
    Water System: City Water/Connected

    Mortgage Calculator

    Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment and loan term. Property taxes are based on the last known value for this property or 0.012 of property price when data is unavailable. Your interest rate and insurance rates will vary based on credit score, loan type, etc.
    Payment:  /mo

    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.
    It would be our pleasure to assist you with your home purchase!

    Apply Online     Home Purchase Qualifier     Refinance Rate Checker    

    Listing provided by RMLS, courtesy of Compass.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.