For Sale: Edina MLS# 6634496
Active
$2,750,000
Commercial: Apartments
Built 1961
0.67 acres
Edina schools
MLS# 6634496
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Property Description
Tree lined classic 12-unit spacious (11 unit 2 bedroom 1 bath and 1 studio) apartment building tucked behind the Room & Board Store, across the street from the renowned Galleria Mall! Walking distance to many restaurants, shops, banks, Lunds & Byerlys, Whole Foods, Southdale Mall. 10 minutes to Minneapolis downtown and University of Minnesota. Top Edina School District! A cozy sanctuary in the heart of Edina, close to everything you need. Floor plan is open and spacious. It comes with private 1-car detached garage and one additional parking space for each unit! Baseboard hot water radiant heat provides comfort and warmth. Tenants pay electricity bills. Coin operated laundry in the building. Potential for re-development just 1/2 block from France Ave commercial district. Zoned as PRD-4 allowing flexible higher density multifamily with commercial elements. Please check with the city of Edina for details. 1031 Exchange property.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,750,000
Property Type:
Commercial
City:
Edina
Garage Spaces:
12
County:
Hennepin
Year Built:
1961
State:
MN
Property Style:
Apartments
Zip Code:
55435
Subdivision Name:
Stows Edgemoor Add Blk 9 Rep
Exterior
Garage Spaces:
12
Other Parking Spaces:
12
Air Conditioning:
Window Unit(s)
Foundation Size:
500 ft2
Handicap Accessible:
No Stairs External
Heating System:
- Baseboard
- Boiler
Parking Features:
- Detached
- Parking Lot
Shared Amenities:
Coin-op Laundry Owned
Exterior Material:
Brick/Stone
Lot & Land
Acres:
0.67
Geolocation:
44.874667, -93.33046
Inclusions:
Building, Land, Leases
Lot Dimensions:
Irregular
Zoning:
Residential-Multi-Family
Schools
School District:
273
District Phone:
952-848-3900
Expenses
Annual Gross Expense:
$48,991
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$28,991
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$28,991
Income
Annual Gross Income:
$189,780
Rent
Annual Net Income:
$140,789
Units
Total Units:
12
Miscellaneous
Current Use:
Residential
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating 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 Sweet Home 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.