For Sale: Minneapolis MLS# 6474426
Active
$1,999,900
Commercial: Apartments
Built 1916
0.41 acres
Minneapolis schools
MLS# 6474426
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Property Description
This multi-family property is located in the Seward neighborhood and features 16 rental units. 8 of the units are two-bedroom units and 8 of the units are three-bedroom units. This property features many updates including all new windows, repaired exterior stucco and new paint, all new exterior security door, new asphalt patching of parking lot. Interior units feature new appliances, bathroom fixtures, interior paint, new light fixtures, new interior locks. There are currently 10 vacancies allowing for the new buyer to fill with their own tenants. This property is great for affordable rentals or ICS grant usage.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,999,900
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1916
State:
MN
Property Style:
Apartments
Zip Code:
55404
Neighborhood/Area:
Seward
Subdivision Name:
Murphys Add
Interior
Appliances Included:
- Freezer
- Range
- Refrigerator
Exterior
Garage Spaces:
0
Garage Dimensions:
0
Garage Door Height:
0
Garage Door Width:
0
Other Parking Spaces:
12
Air Conditioning:
Window Unit(s)
Foundation Size:
1,700 ft2
Foundation Dimensions:
35*48
Handicap Accessible:
None
Heating System:
- Boiler
- Radiator(s)
Parking Features:
- Asphalt
- Open
- Parking Lot
- Paved
Exterior Material:
Stucco
Lot & Land
Acres:
0.41
Geolocation:
44.96299200, -93.24298500
Inclusions:
Building, Fixture/Equipment, Leases
Lot Dimensions:
165 X 107
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Electric Expense:
$1,000
Annual Fuel Expense:
$1,000
Annual Insurance Expense:
$18,000
Annual Maintenance Expense:
$10,000
Annual Gross Expense:
$168,000
Annual Trash Expense:
$2,500
Tenant Expenses:
Electricity, Gas
Financial & Taxes
Tax Year:
2023
Annual Taxes:
$34,921
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$36,418
Income
Annual Gross Income:
$254,400
Rent
Annual Net Income:
$86,400
Units
Total Units:
16
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
Water System:
City Water/Connected
Mortgage Calculator
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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 Caspian Group.
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.