For Sale: Minneapolis MLS# 7088951
Active
NEW!
$2,425,000
Commercial: 2 Stories
Built 1968
0.43 acres
Minneapolis schools
MLS# 7088951
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Property Description
21-unit multifamily in Minneapolis's Powderhorn Park neighborhood offered at $2, 425, 000 ($115, 476/door). This 1BR, 2BR, and studio building features on-site parking and shared laundry with current rents running below market, presenting immediate upside for a new owner. The most recent capital upgrade was a brand new roof in 2026, with newer mechanicals, a clean exterior, and numerous energy efficiency appliance upgrades through the Minneapolis 4D program which also keeps taxes low. Many units have already been remodeled with additional turns remaining, creating a clear and executable value-add path. Potential NOI of $193, 648 with meaningful rent upside still on the table. Ideal for an operator or passive investor looking to deploy into a proven south Minneapolis value-add multifamily. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9, 750, 000. Refer to OM for more details.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,425,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1968
State:
MN
Property Style:
2 Stories
Zip Code:
55407
Neighborhood/Area:
64
Subdivision Name:
Maben & Whites Add
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
4,566 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
- Parking Lot
- Paved Lot
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.43
Geolocation:
44.938611, -93.257879
Inclusions:
Building, Fixture/Equipment, Land, Rental License
Lot Dimensions:
152.90 X 122.00
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$16,226
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$17,073
Income
Annual Gross Income:
$295,800
Rent
Annual Net Income:
$193,648
Units
Total Units:
21
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.