For Sale: Minneapolis MLS# 6508584
Active
$431,900
Commercial: Apartments
Built 1900
0.21 acres
Minneapolis schools
MLS# 6508584
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Property Description
Large Lot with 5-unit apartment property located in the Marcy Holmes neighborhood near the University of MN. Total of 8 rental rooms, one 3-Bed, one 2-Bed, one 1-Bed and 2 Studio units. Units are in good condition and the roof was replaced in 2023. Large lot provides highly desired off-street parking and an opportunity for future redevelopment. Located near the U of MN, this property has been a solid rental for many years. Easy access to downtown Minneapolis via Hennepin and Central Avenues and HWY 35w. Listed below assessed value. Gross Potential Income: $56, 000.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$431,900
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:
Auditors Sub 028
Exterior
Garage Spaces:
0
Garage Dimensions:
0
Garage Door Height:
0
Garage Door Width:
0
Other Parking Spaces:
5
Foundation Size:
1,572 ft2
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
Gravel
Exterior Material:
Fiber Cement
Lot & Land
Acres:
0.21
Geolocation:
44.989094, -93.246674
Inclusions:
Rental License
Lot Dimensions:
54.00 X 166.00
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$272
Annual Fuel Expense:
$2,679
Annual Insurance Expense:
$4,163
Annual Maintenance Expense:
$2,000
Annual Gross Expense:
$25,222
Annual Trash Expense:
$2,486
Annual Water/Sewer Expense:
$2,096
Tenant Expenses:
Cable TV
Financial & Taxes
Tax Year:
2023
Annual Taxes:
$7,585
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$7,585
Income
Annual Gross Income:
$55,830
Rent
Annual Net Income:
$26,252
Units
Total Units:
5
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer - In Street
Available Utilities:
- Electric Common
- Heating Common
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Metro Group Real Estate.
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.