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For Sale:  Minneapolis MLS# 6625789

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Active
$1,195,000
/mo Edit
Commercial:  Apartment,Low Rise,Office
Built 1932
0.23 acres
Minneapolis schools
MLS# 6625789
763-576-8286
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    Property Description

    Another Reduction â?? Motivated Seller! 2nd level offices can easily be converted to multifamily. 9 Unit Mixed-Use For Sale with 3 apartments + 6 offices in the High Demand Loring Park/Lowry Hill. Great condition in and out with a strong rental history. Excellent opportunity for both the investor or owner/user. The 2nd level 6 offices have historically been rented to therapy/counseling uses, but were just vacated for an owner/user opportunity or investor to bring their own tenants. Unit Mix: (1) 3 bed/2 bath. (1) 2 bed/1 bath. (1) 1 bed/1 bath. (6) second level offices leased to therapists. 4 tuck under garage stalls in the rear. The first floor apartment has historically been used for an Airbnb. Built in 1932 with many updates over the years, especially in 2018-2020. 6, 924 total square feet. The building sites on a double lot with 0.23 acres and is zoned UN2 Urban Neighborhood 2 District. Only being offered for sale as the Seller is an out of state owner with a focus in retail.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $1,195,000
    Property Type: Commercial
    City: Minneapolis
    Garage Spaces: 4
    County: Hennepin
    Year Built: 1932
    State: MN
    Property Style: Apartment, Low Rise, Office
    Zip Code: 55403
    Neighborhood/Area: Steven's Square - Loring Heights
    Subdivision Name: Ridgewood Add

    Interior

    Basement Details: Finished

    Exterior

    Garage Spaces: 4
    Other Parking Spaces: 0
    Foundation Size: 2,138 ft2
    Handicap Accessible: None
    Heating System: Boiler
    Parking Features:
    • Concrete
    • Tuckunder Garage
    Exterior Material: Stucco

    Lot & Land

    Acres: 0.23
    Geolocation: 44.964111, -93.281521
    Inclusions: Building, Land, Leases, Rental License
    Lot Dimensions: 89 x 146
    Zoning:
    • Business/Commercial
    • Residential-Multi-Family
    Lot Description: Irregular Lot

    Schools

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

    Expenses

    Tenant Expenses: Electricity

    Financial & Taxes

    Tax Year: 2024
    Annual Taxes: $20,885
    Lender-owned: No
    Assessment Pending: Unknown
    Taxes w/ Assessments: $20,885

    Units

    Total Units: 9

    Miscellaneous

    Current Use:
    • Bar/Tavern
    • Bed & Breakfast
    • Commercial
    • Office
    • Professional Service
    • Professional/Office
    • Recreational
    • Residential
    Fuel System: Natural Gas
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Separate
    • Heating Common
    • Hot Water Common
    Water System: City Water/Connected

    Mortgage Calculator

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    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!

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    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.