For Sale: Minneapolis MLS# 6768264
Active
NEW!
$671,500
Commercial: Apartments
Built 1931
0.13 acres
Minneapolis schools
MLS# 6768264
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Property Description
This 6-unit apartment building is classic brownstone building built in 1931. It has five 2-bedroom units and one studio unit. Fully occupied remodeled units. Updated vinyl windows, roof replaced in 2010, six newer furnaces & electric meters and newer coin laundry in the basement. Tier 1 rental license and professionally managed by a reputable local management company. Located in south Minneapolis, the property is near several parks and lakes including Lakes Nokomis, Hiawatha and Powderhorn. No lack of supply of restaurants and retail in the neighborhood.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$671,500
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1931
State:
MN
Property Style:
Apartments
Zip Code:
55407
Neighborhood/Area:
Bancroft
Subdivision Name:
Chicago Ave Park
Interior
Appliances Included:
- Range
- Refrigerator
Exterior
Stories:
Two
Garage Spaces:
0
Garage Dimensions:
0
Garage Door Height:
0
Garage Door Width:
0
Other Parking Spaces:
5
Air Conditioning:
Window Unit(s)
Foundation Size:
1,790 ft2
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
Paved
Shared Amenities:
Coin-op Laundry Owned
Exterior Material:
Brick/Stone
Lot & Land
Acres:
0.13
Geolocation:
44.932722, -93.262104
Inclusions:
Building
Lot Dimensions:
46.00 X 122.00
Zoning:
- Residential-Multi-Family
- Residential-Single Family
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$900
Annual Fuel Expense:
$2,100
Annual Insurance Expense:
$6,700
Annual Maintenance Expense:
$2,000
Annual Gross Expense:
$40,567
Annual Trash Expense:
$4,500
Annual Water/Sewer Expense:
$2,350
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$11,288
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$11,288
Income
Annual Gross Income:
$89,346
Rent
Annual Net Income:
$48,556
Units
Total Units:
6
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer - In Street
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
City Water - In Street
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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 Metro Group Real Estate.
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.