For Sale: Minneapolis MLS# 7043209
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Property Description
Introducing a prime investment opportunity. 17 unit apartment building located in the desirable Whittier neighborhood of Minneapolis. This well-maintained property offers spacious one-bedroom, one bathroom units designed to attract and retain quality tenants. Each unit features a functional layout with a breakfast bar in the kitchen, large windows that bring in abundant natural light, and ample built-in storage for added convenience. Residents enjoy the benefits of urban living with nearby access to a variety of local shops, restaurants, and everyday amenities. The property is ideally situated within walking distance to public transit along Franklin Avenue and Nicollet Avenue, making commuting throughout the easy and efficient. Additional on-site parking is available for a fee, providing flexibility for tenants with vehicles. With its strong rental appeal, excellent location and desirable unit features, this building present a solid opportunity for investors seeking a stable asset in one of Minneapolis' most vibrant neighborhoods.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,700,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1969
State:
MN
Property Style:
2 Stories
Zip Code:
55408
Neighborhood/Area:
84
Subdivision Name:
Excelsior Add
Interior
Ceiling Height:
8-10
Refrigerators:
One
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Block
- Full
Exterior
Stories:
Two
Garage Spaces:
0
Garage Dimensions:
0
Garage Door Height:
0
Garage Door Width:
0
Air Conditioning:
Wall Unit(s)
Foundation Size:
3,528 ft2
Foundation Dimensions:
3528
Fencing:
Chain Link, Partial
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
- Parking Lot
- Paved Lot
Road Frontage:
City Street
Lot & Land
Acres:
0.28
Geolocation:
44.951453, -93.283383
Inclusions:
Building, Fixture/Equipment
Lot Dimensions:
100 x 123.5
Zoning:
Residential-Multi-Family
Lot Description:
- Public Transit (w/in 6 blks)
- Tree Coverage - Light
Schools
School District:
558
District Phone:
6126680000
Expenses
Annual Fuel Expense:
$9,461
Annual Insurance Expense:
$15,477
Annual Maintenance Expense:
$12,766
Annual Trash Expense:
$7,384
Annual Water/Sewer Expense:
$10,428
Tenant Expenses:
Electricity, Gas
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$30,999
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$30,999
Income
Annual Gross Income:
$199,547
Rent
Annual Net Income:
$66,964
Units
Total Units:
17
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Sewer System:
- City Sewer - In Street
- City Sewer/Connected
Available Utilities:
Heating Common
Water System:
City Water/Connected
Power Company Name:
Xcel Energy
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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 Edina Realty, 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.