For Sale: Minneapolis MLS# 7131152
Active
$1,900,000
Commercial: Other
Built 1962
0.29 acres
Minneapolis schools
MLS# 7131152
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Property Description
Bloomington Square Apartments is located in the heart of South Minneapolis close to many shops, parks and employment. Built in 1962 this property features a total of 18-units with a mix of twelve 2bd, 1ba and six 1bd, 1ba along with a whole lower fourth level with four tuck under garages. There is plenty of extra storage and off-street parking. The exterior is maintenance free with brick and stucco and newer vinyl replacement windows. The building sits on 0.28 acres and is only a short block from the desirable Powderhorn Park. Onsite laundry and extra storage lockers. Fully leased and located in a non-rent controlled city of Minnesota.
PROPERTY FACTS
Year Built: 1962
Square Footage: 15, 320
Units: 18
Zoning: Multiple-Dwelling
Parking: 4 Attached Garage Stalls w/ Openers Plus 16 Off-Street Parking Spots
Exterior: All Brick and Stucco Exterior
Heating: Gas Fired Forced Air Hot Water Boiler System
Air Conditioning: In the Wall Air Conditioning Units
Roof: Flat Roof - Newer in Age
UNIT DESCRIPTION
12 - Two Bedroom, One Bath - Approx. 800+ Sqft.
6 - One Bedroom, One Bath - Approx. 600+ Sqft
PROPERTY IMPROVEMENTS
Hallways and Common Areas Recently Painted
Newer Hot Water Heater
Newer Double-Hung Windows Throughout the Building
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,900,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
4
County:
Hennepin
Year Built:
1962
State:
MN
Property Style:
Other
Zip Code:
55407
Neighborhood/Area:
64
Subdivision Name:
Bloomington Ave Add
Interior
Ceiling Height:
8-10
Flooring:
Carpet, Tile, Vinyl
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Partial
- Storage Space
- Storage/Locker
Exterior
Stories:
Three Or More
Garage Spaces:
4
Air Conditioning:
Wall Unit(s)
Foundation Size:
4,350 ft2
Fencing:
None
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Boiler
- Hot Water
Parking Features:
- Attached Garage
- Parking Lot
- Tuckunder Garage
Road Frontage:
City Street
Exterior Material:
- Block
- Frame
Pool:
None
Roof Details:
- Age Over 8 Years
- Flat
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.29
Geolocation:
44.940865, -93.25284
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
100 x 123
Zoning:
Residential-Multi-Family
Lot Description:
Tree Coverage - Light
Farm
Topography:
Hilly
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
$15,256
Annual Electric Expense:
$1,500
Annual Fuel Expense:
$11,220
Annual Insurance Expense:
$12,000
Annual Maintenance Expense:
$13,500
Annual Trash Expense:
$3,789
Annual Water/Sewer Expense:
$4,000
Tenant Expenses:
Broadband, Cable TV, Electricity
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$37,002
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$60,839
Income
Annual Gross Income:
$254,274
Rent
Annual Net Income:
$147,005
Units
Total Units:
18
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Apartment Cash Flow, Inc..
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.