For Sale: Minneapolis MLS# 6495781
Active
$685,000
Commercial: Apartments
Built 1960
0.1 acres
Minneapolis schools
MLS# 6495781
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Property Description
Updated 6 unit building fully rented with a 7.7% cap rate! 54k on NOI. Great location in Longfellow neighborhood. Walking distance to trails and river. Building consists of (4) 2 bedroom units, (2) 1 bedroom units. Units have been updated over the years. Laundry is in building run by BDS. Building offers 6 Parking spots. Great cash flow and upside. Contract For Deed Available.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$685,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1960
State:
MN
Property Style:
Apartments
Zip Code:
55406
Neighborhood/Area:
Longfellow
Subdivision Name:
Libbys Add
Interior
Ranges:
Six or More
Refrigerators:
Six or More
Appliances Included:
- Range
- Refrigerator
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
6
Air Conditioning:
Wall Unit(s)
Foundation Size:
1,962 ft2
Handicap Accessible:
None
Heating System:
- Baseboard
- Hot Water
Parking Features:
Parking Lot
Shared Amenities:
Coin-op Laundry Leased
Exterior Material:
Stucco
Roof Details:
Asphalt
Lot & Land
Acres:
0.1
Geolocation:
44.946992, -93.230647
Inclusions:
Building, Leases, Rental License
Lot Dimensions:
6X70
Zoning:
Business/Commercial
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2023
Annual Taxes:
$9,541
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$9,541
Income
Annual Gross Income:
$83,400
Rent
Annual Net Income:
$54,059
Units
Total Units:
6
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
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Listing provided by RMLS,
courtesy of eXp 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.