For Sale: Minneapolis MLS# 6652619
Active Contingent
$920,000
Commercial: Apartments
Built 1900
0.25 acres
Minneapolis schools
MLS# 6652619
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
Come see this fully stabilized 7-unit property in a great location in SE Minneapolis. Every unit in this building has been rehabbed within the last few years. Solid rents in place, but there is definitely room for rent bumps. This property's proximity to the U of M campus and downtown gives it a strong student rental base. The back parking lot has recently been redone to add extra parking spaces for tenants. Come and drive by the property! It sits in a quiet neighborhood while still being just blocks away from some of Minneapolis's best restaurants.
Listing
Listing Status:
Active Contingent
Contingency:
Other
List Price:
$920,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1900
State:
MN
Property Style:
Apartments
Zip Code:
55414
Neighborhood/Area:
Marcy Holmes
Subdivision Name:
Mill Cos Add To St Anthony Falls
Exterior
Garage Spaces:
0
Other Parking Spaces:
9
Air Conditioning:
Window Unit(s)
Foundation Size:
2,221 ft2
Handicap Accessible:
None
Heating System:
Hot Water
Parking Features:
Paved
Shared Amenities:
Patio
Exterior Material:
Vinyl Siding
Lot & Land
Acres:
0.25
Geolocation:
44.988002, -93.247182
Inclusions:
Building, Leases
Lot Dimensions:
66 x 165
Zoning:
Business/Commercial
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Electric Expense:
$9,276
Annual Fuel Expense:
$6,204
Annual Insurance Expense:
$5,040
Annual Maintenance Expense:
$20,627
Annual Gross Expense:
$63,708
Annual Water/Sewer Expense:
$7,128
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$14,300
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$14,300
Income
Annual Gross Income:
$102,299
Rent
Annual Net Income:
$38,591
Units
Total Units:
7
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
Local Home Mortgage Professionals
651-253-2144
Jason & Kim Stone
Branch Manager & Co-Branch Manager
Fairway Mortgage NMLS#1018649
Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
It would be our pleasure to assist you with your home purchase!
Listing provided by RMLS,
courtesy of Keller Williams Premier Realty.
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.