Property Attributes
- ID#6495781
- TypeCommercial
- CountyHENNEPIN
- CityMinneapolis
- AreaLibbys Add
- NeighborhoodLibbys Add
- Zip55406
- StyleApartment
- Year Built1960
- Taxes$ 9541
- Price$ 685,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage5324
- Lot Size4,356 SqFt
Data Source:
Northstar MLS (NSTAR)
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.
Price History | |
---|---|
2/28/2024 | Listed $699,900 |
4/23/2024 | 3% - $685,000 |
General Features
Sewer | City Sewer/Connected |
---|---|
Heating | Baseboard,Hot Water |
Cooling | Wall Unit(s) |
Utilities | Electric Common,Heating Common,Hot Water Common |
Roof | Asphalt |
Appliances | Range,Refrigerator |
Construction Materials | Stucco |
Year Built | 1960 |
Tenant Pays | Cable TV,Electricity |
Levels | Two |
Property SubType | Apartment |
Tax Year | 2023 |
Current Use | Residential |
Gross Income | 83400 |
OwnerPays | Electricity,Fuel,Gas,Grounds Care,Repairs |
Accessibility | None |
County | Hennepin |
Net Operating Income | 54059 |
Operating Expense | 29341 |
Property Type | Commercial Sale |
Association Amenities | Coin-op Laundry Leased |
Contingency | None |
Subdivision Name | Libbys Add |
Directions | Minnehaha to E 31st |
City | Minneapolis |
Buyer Agent Compensation | 2.00 |
High School District | Minneapolis |
Zoning Description | Business/Commercial |
Total Units | 6 |
Street Name | 31st |
Land Lease Y/N | No |
Tax Annual Amount | 9541 |
Additional Parcels Y/N | No |
Days on Market | 55 |
Standard Status | Active |
Lender Owned | No |
Buyer Agent Compensation Type | % |
PostalCity | Minneapolis |
Interior Features
Basement (Y/N) | No |
---|---|
Street Suffix | Street |
Fuel | Natural Gas |
Exterior Features
Parking Features | Parking Lot |
---|---|
Water Source | City Water/Connected |
Inclusions | Building,Leases,Rental License |
Lot Size Area | 0.1 |
Building Area Total | 5324 |
Lot Dimensions | 6X70 |
Lot Size Units | Acres |
Foundation Area | 1962 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool