For Sale: Minneapolis MLS# 6638564
Active
$1,690,000
Commercial: Apartments
Built 1969
0.26 acres
Minneapolis schools
MLS# 6638564
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Property Description
Apartment with new roof & updated units blocks from Lake and Lyndale in Uptown. Appraised within the last three years for $2.4 million. Management in place willing to stay on during a 6 month transition period. 5 - 2 BR units and 7 - 1 BR units. Some furnished units. Seller has made significant improvements and investments to the property in the last several years. Near the lakes, the heart of Uptown, US Bank Stadium and the Convention Center, many shops & restaurants. Open layouts, updated kitchens and baths & new roof. Donâ??t miss this rare chance for an equity building investment with value add opportunity.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,690,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1969
State:
MN
Property Style:
Apartments
Zip Code:
55408
Neighborhood/Area:
Lyndale
Subdivision Name:
Motor Line Add
Interior
Ranges:
Six or More
Refrigerators:
Six or More
Appliances Included:
- Dryer
- Range
- Refrigerator
- Stainless Steel Appliances
- Washer
Basement Details:
Full
Exterior
Garage Spaces:
0
Other Parking Spaces:
12
Air Conditioning:
Wall Unit(s), Window Unit(s)
Foundation Size:
952 ft2
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
Paved
Unit Amenities:
- Hardwood Floors
- Kitchen Window
- Natural Woodwork
- Tile Floors
Exterior Material:
Brick/Stone
Roof Details:
- Age 8 Years or Less
- Flat
- Rubber
Lot & Land
Acres:
0.26
Geolocation:
44.945955, -93.283945
Inclusions:
Building
Lot Dimensions:
124 x 90
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Electric Expense:
$1,000
Annual Fuel Expense:
$6,000
Annual Insurance Expense:
$6,736
Annual Maintenance Expense:
$2,000
Annual Gross Expense:
$55,558
Annual Trash Expense:
$3,500
Annual Water/Sewer Expense:
$3,000
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$45,498
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$45,498
Income
Annual Gross Income:
$68,400
Rent
Annual Net Income:
$12,842
Units
Total Units:
12
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric 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 eXp Realty.
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.