For Sale: Minneapolis MLS# 7161032
Active
NEW!
$695,000
Commercial: Other
Built 1926
0.14 acres
Minneapolis schools
MLS# 7161032
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Property Description
Renovated five-unit apartment building featuring all two-bedroom, one-bath units. Taken down to the studs in 2023 with $386, 042 in documented improvements, including a new 30-year roof, PEX plumbing, new gas lines to each unit, six-zone boiler, updated electrical, new windows, granite countertops, new cabinetry, stainless steel appliances, and LVP flooring. Security features include hardwired smoke and CO detectors, digital keypad entry, an alarmed steel rear door, and security cameras. Gas and electric are separately metered and tenant-paid; water, sewer, and trash are recovered through RUBS. Four garage stalls and on-site laundry. Minneapolis Tier 1 rental license. **Investors:** Projected pro forma NOI of $55, 600, reflecting an 8.0% cap rate. **Owner-users:** Former group home use, well-suited for a housing program operator. Metro Transit Route 5 at the corner and METRO D Line two blocks south. Full offering memorandum available.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$695,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
4
County:
Hennepin
Year Built:
1926
State:
MN
Property Style:
Other
Zip Code:
55411
Neighborhood/Area:
31
Subdivision Name:
Bakers Amd To Highland Park
Interior
Refrigerators:
Five
Appliances Included:
- Range
- Refrigerator
- Stainless Steel Appliances
Exterior
Garage Spaces:
4
Foundation Size:
1,591 ft2
Handicap Accessible:
Other
Heating System:
Boiler
Parking Features:
Detached Garage
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.14
Geolocation:
45.001753, -93.29371
Inclusions:
Building
Lot Dimensions:
43 x 140
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$7,426
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$7,426
Units
Total Units:
5
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Pemberton RE.
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.