For Sale: Minneapolis MLS# 6739152
Active
NEW!
$974,900
Commercial: Apartments
Built 1963
0.21 acres
Minneapolis schools
MLS# 6739152
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Property Description
Turn-key 8-unit apartment building offering a cash-flowing investment at affordable rent levels. The property includes six 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units. Units have been recently renovated, including new kitchens, countertops, flooring, and fixtures. Rents are set below 50% of the area median income (AMI), and the building is enrolled in the Minneapolis 4d Affordable Housing Program, providing approximately 40% in annual property tax savings. Additional improvements include upgraded mechanical systems, commercial-grade security and access controls, and a newly paved parking lot with off-street parking and on-site laundry. The building is fully stabilized; however, Unit #3 has been intentionally left vacant to accommodate showings.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$974,900
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1963
State:
MN
Property Style:
Apartments
Zip Code:
55411
Neighborhood/Area:
Hawthorne
Subdivision Name:
Morrisons Add To North
Interior
Appliances Included:
- Range
- Refrigerator
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
8
Air Conditioning:
Wall Unit(s)
Foundation Size:
3,696 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
- Assigned
- Paved
Shared Amenities:
Coin-op Laundry Leased
Exterior Material:
Stucco
Roof Details:
Age Over 8 Years
Lot & Land
Acres:
0.21
Geolocation:
45.010906, -93.283815
Inclusions:
Building, Land, Rental License
Lot Dimensions:
52 x 170
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$7,682
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$7,682
Units
Total Units:
8
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Hot Water Common
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of LPT Realty, 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.