For Sale: Minneapolis MLS# 7088925
Active
NEW!
$1,225,000
Commercial: 2 Stories
Built 1962
0.29 acres
Minneapolis schools
MLS# 7088925
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Property Description
12-unit all 1BR/1BA multifamily in Minneapolis's Corcoran neighborhood offered at $1, 225, 000 ($102, 083/door). This two-story brick and stucco building sits on a large lot in one of south Minneapolis's most consistently occupied submarkets. The property has been steadily upgraded with newer electric panels, a new front concrete stoop, and many units remodeled. Part of the Minneapolis 4D program providing low taxes and energy saving appliance upgrades. Augsburg College, North Central University, and Abbott Northwestern Hospital are all within minutes, providing a steady and diverse renter demand base. Potential NOI of $97, 662 with clear value-add upside remaining on turns. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9, 750, 000. Please review the OM for more information.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,225,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1962
State:
MN
Property Style:
2 Stories
Zip Code:
55407
Neighborhood/Area:
16
Subdivision Name:
Minnehaha Add
Exterior
Stories:
Two
Garage Spaces:
0
Garage Door Height:
0
Foundation Size:
1,680 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
- Parking Lot
- Paved Lot
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.29
Geolocation:
44.947575, -93.245766
Inclusions:
Building, Fixture/Equipment, Rental License
Lot Dimensions:
100.00 X 125.00
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$7,578
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$8,387
Income
Annual Gross Income:
$158,400
Rent
Annual Net Income:
$97,662
Units
Total Units:
12
Miscellaneous
Current Use:
Residential
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Electric Separate
- Heating Common
- Hot Water Common
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 Commercial Investors Group 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.