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Active
$699,900
/mo Edit
Commercial:  2 Stories
Built 1911
0.17 acres
Minneapolis schools
MLS# 6476000
My rating:
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    Property Description

    Unique opportunity to own nearly 1/4 city block in MPLS! Mixed-use building - currently 2 units on main floor rented by the same long term tenant $2400/month - steady & reliable income. They would prefer to stay. 2 Residential apartments above - 1BR apartment on north side is month to month - $750 (under market). Very large & unique studio apartment is owner occupied with 12 foot ceilings & large roof top deck shared with the other one bedroom apartment. Large unfinished space in the basement could be added as FSF to the commercial space or be turned into another unit. 4 car+ garage is currently used by the owners, but has been rented to neighbors/tenants in the past for additional income. Close date is flexible.

    Listing

    Contingency: None
    City: Minneapolis
    County: Hennepin
    State: MN
    Property Style: 2 Stories
    Zip Code: 55404
    Neighborhood/Area: Ventura Village
    Subdivision Name: Eliots Add

    Interior

    Ranges: Two
    Refrigerators: Two
    Basement Details: Full

    Exterior

    Stories: Two
    Garage Spaces: 4
    Other Parking Spaces: 4
    Air Conditioning: Central Air
    Foundation Size: 3,103 ft2
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Forced Air
    Parking Features:
    • Concrete
    • Detached
    • Other
    Road Frontage: City Street
    Exterior Material: Brick/Stone
    Roof Details:
    • Flat
    • Pitched
    • Tar/Gravel

    Lot & Land

    Acres: 0.17
    Geolocation: 44.960293, -93.253321
    Inclusions: Building, Land, Leases
    Lot Dimensions: 56 x 134
    Zoning:
    • Business/Commercial
    • Residential-Multi-Family
    Lot Description:
    • Corner Lot
    • Public Transit (w/in 6 blks)

    Schools

    School District: 1
    District Phone: 612-668-0000

    Expenses

    Annual Insurance Expense: $6,300
    Annual Water/Sewer Expense: $1,200
    Tenant Expenses: Electricity, Gas

    Financial & Taxes

    Tax Year: 2023
    Annual Taxes: $6,688
    Lender-owned: No
    Assessment Pending: Unknown
    Taxes w/ Assessments: $8,484

    Income

    Annual Gross Income: $52,200

    Rent

    Annual Net Income: $41,682

    Units

    Total Units: 4

    Miscellaneous

    Current Use:
    • Commercial
    • Residential
    Fuel System: Natural Gas
    Owner Occupied: Yes
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Separate
    • Heating Separate
    • Hot Water Separate
    Water System: City Water/Connected

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    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.
    It would be our pleasure to assist you with your home purchase!

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    Listing provided by RMLS, courtesy of RE/MAX Results.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.