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Sold
Sold
$850,000  (list price)
$850,000
/mo   Edit
MLS# 5281809
Commercial
Built 1960
0.27 acres
Minneapolis schools
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    Description:   Solid building with 11 1bed/1bath units. Close to freeway, airport, mall, shopping, bus stop. Owned coin op laundry, security cameras, motion hallway LED lights. Cash Flow!
    List Price: $850,000
    Sold Price: $850,000
    Sold Date: 11/15/2019
    Price/sq ft: None
    Property Type: Commercial
    Listing Status: Sold
    Contingency: None
    Year Built: 1960
    Neighborhood/Area: Wenonah
    City: Minneapolis
    Zip Code: 55417

    Interior

    Building Fin Sq Ft: 7,380 ft²
    Total Ranges: One Per Unit
    Total Refrigerators: One Per Unit

    Exterior

    Air Conditioning: Wall
    Heating System: Boiler, Baseboard
    Foundation Size: 2,560 ft²
    Shared Amenities: Coin-op Laundry Owned
    Handicap Accessible: None
    Exterior Material: Brick/Stone, Stucco
    Garage Spaces: 0
    Other Parking Spaces: 10

    Lot

    Acres: 0.27
    Latitude: 44.89833200
    Longitude: -93.22575400
    Lot Size Dim.: 120.00 X 101.00
    Dev/Complex Name: Sanders 2nd Add
    Zoning: Residential-Multi-Family

    Schools

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

    Expenses

    Annual Caretaker Expense: $1,200
    Annual Electric Expense: $568
    Annual Fuel Expense: $3,150
    Annual Insurance Expense: $1,918
    Annual Maintenance Expense: $1,100
    Annual Repair Expense: $1,100
    Annual Gross Expense: $27,986
    Annual Trash Expense: $1,190
    Annual Water/Sewer Expense: $3,100
    Owner Expenses: Taxes, Insurance, Maintenance/Repair, Trash, Snow, Lawn, Fuel
    Tenant Expenses: Water/Sewer, Electric, Cable T.V.

    Financial & Taxes

    Tax Year: 2019
    Annual Taxes: $11,676
    Assessment Pending: Unknown
    Taxes w/ Assessments: $11,676

    Income

    Annual Gross Income: 118800.00

    Rent

    Annual Net Income: $90,814

    Unit

    Total Rooms in Unit 1: 11
    Total Rooms in Unit 2: 0
    Total Rooms in Unit 3: 0
    Total Units: 11
    Number of Efficiencies: 0

    Miscellaneous

    Current Use: Residential
    Fuel System: Natural Gas
    Owner Occupied: N
    Sale Includes: Building, Land, Leases
    Sewer System: City Sewer/Connected
    Utilities: Heating Common, Electric Separate
    Water System: City Water/Connected

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    My goal is to be fair and accurate with anyone who trusts me to handle their financing. I believe that trust is the most important ingredient in the relationship between my client and me, which is why I focus on transparency with my clients so they understand from where all of the numbers in their transactions are derived. When trust is high and stress is low, purchases close on time. My Promise to you is we close on time, every time. We have open communication throughout the process, and I am accountable in all that I do. I am committed to serving you, I am committed to excellence, and I am committed to your 100% satisfaction. I am a 20 year veteran in the financing industry and have worked in every segment of the mortgage industry including banking, brokering, and correspondent lending. I have been fortunate to be a multi-year recipient of the Super Mortgage Professional designation given by the Twin Cities Business Magazine, the Minneapolis/St. Paul Magazine, and the Minnesota Monthly Magazine which are professional publications in my market.
    612.268.1503

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