For Sale: Minneapolis MLS# 7086019
Active
$875,000
Commercial: Other
Built 1963
0.17 acres
Minneapolis schools
MLS# 7086019
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Property Description
Excellent opportunity to acquire a fully occupied 10-unit apartment building with strong in-place cash flow. This well-maintained property features updated units, a newer roof, updated exterior wood components, replacement shakes, and newer windows, helping reduce future capital expenditures.
Generating approximately $117, 000 in annual gross rental income, this stabilized asset offers immediate income with additional upside through long-term ownership. All units are occupied, providing consistent cash flow from day one.
Ideal for investors looking to expand their portfolio or complete a 1031 exchange.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$875,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1963
State:
MN
Property Style:
Other
Zip Code:
55404
Neighborhood/Area:
22
Subdivision Name:
Gilpatricks Add
Exterior
Stories:
Three Or More
Garage Spaces:
0
Foundation Size:
4,536 ft2
Fencing:
Chain Link, Full
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Baseboard
Parking Features:
- Asphalt
- Open
- Parking Lot
- Paved Lot
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Sidewalks
Pool:
None
Roof Details:
- Age 8 Years or Less
- Asphalt
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.17
Geolocation:
44.956274, -93.250287
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
60 x 123
Zoning:
Residential-Multi-Family
Lot Description:
- Public Transit (w/in 6 blks)
- Tree Coverage - Light
Schools
School District:
1
District Phone:
6126680000
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$11,660
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$11,660
Units
Total Units:
10
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
Water System:
City Water/Connected
Mortgage Calculator
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Compass.
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.