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$640,000  (list price)
$600,000
/mo Edit
Commercial:  Apartments/Retail
Built 1958
0.12 acres
Minneapolis schools
MLS# 5756533
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    Property Description

    Fully occupied, 5 of 6 have been tenants for over 2 yrs. Great steady, hands-off cash-flow opportunity for the right investor. Two units have been significantly renovated within the last 2 yrs.

    Listing

    Contingency: None
    City: Minneapolis
    County: Hennepin
    State: MN
    Property Style: Apartments/Retail
    Zip Code: 55407
    Neighborhood/Area: Powderhorn Park

    Interior

    Building Finished Area: 4,296 ft2
    Appliances Included:
    • Range
    • Refrigerator

    Exterior

    Garage Spaces: 0
    Other Parking Spaces: 5
    Air Conditioning: Window Unit(s)
    Heating System: Baseboard
    Foundation Size: 1,476 ft2
    Handicap Accessible: None
    Shared Amenities: Coin-op Laundry Owned
    Unit Amenities:
    • Hardwood Floors
    • Kitchen Window
    Exterior Material:
    • Brick/Stone
    • Stucco

    Lot

    Acres: 0.12
    Geolocation: 44.94681300, -93.25665000
    Lot Dimensions: 42 x 123
    Dev/Complex Name: Tingleys Add
    Zoning: Residential-Multi-Family

    Schools

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

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $650
    Annual Fuel Expense: $3,500
    Annual Insurance Expense: $2,750
    Annual Maintenance Expense: $3,850
    Annual Gross Expense: $25,000
    Annual Trash Expense: $3,750
    Annual Water/Sewer Expense: $4,000
    Tenant Expenses: Electricity

    Financial & Taxes

    Tax Year: 2020
    Annual Taxes: $7,959
    Assessment Pending: No
    Taxes w/ Assessments: $7,959

    Income

    Annual Gross Income: $75,600

    Rent

    Annual Net Income: $50,600

    Unit

    Total Units: 6

    Miscellaneous

    Current Use: Residential
    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Available Utilities: Electric Separate
    Water System: City Water/Connected

    Mortgage Calculator

    Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment and loan term. Property taxes are based on the last known value for this property or 0.012 of property price when data is unavailable. Your interest rate and insurance rates will vary based on credit score, loan type, etc.
    Payment:  /mo

    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 Verde Real Estate Group.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.