For Sale: Minneapolis MLS# 6439428
Active
$1,050,000
Commercial: 2 Stories
Built 1925
0.13 acres
Minneapolis schools
MLS# 6439428
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Property Description
Beautiful, extensively remodeled apartment building with 5 units,  2 car garage, and parking spots. Kitchens remodeled with new cabinets, new appliances, new countertops, and laundry. Floors refinished throughout, walls painted, new plumbing and electrical. Washer and dryer in some units, laundry roughed in for another unit, and shared laundry in the basement for tenants as well. Some new windows, some new doors, and some new tile in bathrooms. Owner was planning to hold on to this property indefinitely, therefore, he upgraded plumbing, electrical, and other items not seen being the walls to ensure it's a wonderful rental property into the future. Seller only selling due to a recent new business opportunity. 4 units have 2 bedrooms and 1 bathroom. 1 unit, unit 5 in the basement, has 3 bedrooms and 2 bathrooms. 4 units with month-to-month leases with 60 days notice necessary. Unit 2 is recently vacated with easy showing. Storage lockers in the basement for tenants to use.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,050,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
2
County:
Hennepin
Year Built:
1925
State:
MN
Property Style:
2 Stories
Zip Code:
55408
Neighborhood/Area:
Lyndale
Subdivision Name:
Bakers Add
Interior
Ranges:
Five
Refrigerators:
Five
Appliances Included:
- Dishwasher
- Dryer
- Microwave
- Range
- Refrigerator
- Washer
Basement Details:
- Egress Window(s)
- Finished
- Full
- Storage Space
- Storage/Locker
Exterior
Stories:
Two
Garage Spaces:
2
Garage Size:
500 ft2
Other Parking Spaces:
6
Air Conditioning:
Window Unit(s)
Foundation Size:
2,181 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Boiler
- Radiator(s)
Parking Features:
- Asphalt
- Detached
- Parking Lot
- Paved
- Unassigned
Shared Amenities:
Coin-op Laundry Owned
Unit Amenities:
- Ceiling Fan(s)
- Hardwood Floors
- Kitchen Window
- Main Floor Primary Bedroom
- Natural Woodwork
- Tile Floors
- Washer/Dryer Hookup
Road Frontage:
- Curbs
- Paved Streets
- Sidewalks
- Storm Sewer
- Township
Exterior Material:
Stucco
Roof Details:
- Flat
- Rubber
Rooms
Shared Rooms:
Other
Lot & Land
Acres:
0.13
Geolocation:
44.94094600, -93.28775500
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
45 x 121
Zoning:
- Business/Commercial
- Residential-Multi-Family
Lot Description:
- Public Transit (w/in 6 blks)
- Tree Coverage - Light
Farm
Topography:
Level
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Gross Expense:
None
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2023
Annual Taxes:
$11,577
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$11,577
Income
Annual Gross Income:
$96,540
Rent
Annual Net Income:
$96,540
Units
Total Units:
5
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
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.
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!
Listing provided by RMLS,
courtesy of RE/MAX Results.
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.