For Sale: Minneapolis MLS# 7088940
Active
NEW!
$1,275,000
Commercial: 2 Stories
Built 1966
0.26 acres
Minneapolis schools
MLS# 7088940
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Property Description
12-unit multifamily in Minneapolis's Powderhorn Park neighborhood offered at $1, 275, 000 ($106, 250/door). Built in 1966, the property sits directly across from Powderhorn Park's tennis courts and 66 acres of green space, giving tenants immediate access to one of Minneapolis's most recognized parks. Recent capital upgrades include a brand new parking lot in 2025, a new boiler in 2026, newer water heater, and updated electrical. Many units have already been renovated and the property is part of the Minneapolis 4D program providing low taxes and numerous appliance upgrades. The mixed unit mix of 7 one-bedroom and 5 two-bedroom units delivers broad renter appeal with market rents of $1, 125 and $1, 325 respectively and a potential NOI of $100, 318. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9, 750, 000. Refer to the Offering Memorandum for more information.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,275,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1966
State:
MN
Property Style:
2 Stories
Zip Code:
55407
Neighborhood/Area:
64
Subdivision Name:
Chases Add
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
2,400 ft2
Foundation Dimensions:
40x60
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
Parking Lot
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.26
Geolocation:
44.9412, -93.260422
Inclusions:
Building, Fixture/Equipment, Leases, Rental License
Lot Dimensions:
89.40 X 127.10
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$12,809
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$13,323
Income
Annual Gross Income:
$171,000
Rent
Annual Net Income:
$100,318
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
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.