For Sale: Minneapolis MLS# 7088996
Active
NEW!
$1,275,000
Commercial: 2 Stories
Built 1962
0.21 acres
Minneapolis schools
MLS# 7088996
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Property Description
11-unit multifamily in Minneapolis's Corcoran neighborhood offered at $1, 275, 000 ($113, 636/door). The property features a desirable mixed unit mix of 6 two-bedroom and 5 one-bedroom units with market rents of $1, 400 and $1, 100 respectively, delivering broad renter appeal in a stable primarily residential submarket with strong transit connectivity and consistent tenant demand. Recent capital upgrades include a brand new parking lot in 2025, newer boiler, updated water heaters, and numerous new appliances through energy efficiency programs in 2026. The property is part of the Minneapolis 4D program keeping taxes low. Some units have already been turned with additional value-add upside remaining, all on top of stable in-place cash flow and a potential NOI of $100, 377. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9, 750, 000. Refer to OM 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:
1962
State:
MN
Property Style:
2 Stories
Zip Code:
55407
Neighborhood/Area:
64
Subdivision Name:
Bloomington Ave Add
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
3,283 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
Parking Lot
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.21
Geolocation:
44.937943, -93.257091
Inclusions:
Building, Fixture/Equipment, Land, Leases, Rental License
Lot Dimensions:
75 X 123
Zoning:
Residential-Single Family
Schools
School District:
1
District Phone:
6126680000
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$7,590
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$7,718
Income
Annual Gross Income:
$159,600
Rent
Annual Net Income:
$100,377
Units
Total Units:
11
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.