For Sale: Minneapolis MLS# 6826491
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Property Description
A 6-unit multifamily investment opportunity located in the Lyndale neighborhood of South Minneapolis. The property is comprised of four two-bedroom units & two one-bedroom units.
A new high-efficiency boiler & two new water heaters were installed in 2024. The windows were replaced in 2019. The building is currently enrolled in the Minneapolis 4D program, providing a significant reduction in annual property tax expense. There is off-street parking in the back of the building; one space for each unit. All current tenants are on month-to-month leases.
The property is well located for easy access to I-35W as well as for easy access to numerous neighborhood amenities toward Lyndale Avenue & beyond.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$750,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1923
State:
MN
Property Style:
Other
Zip Code:
55408
Neighborhood/Area:
48
Subdivision Name:
Nicollet Ave Add
Exterior
Garage Spaces:
0
Foundation Size:
6,098 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
Parking Lot
Lot & Land
Acres:
0.14
Geolocation:
44.940888, -93.275719
Inclusions:
Building
Lot Dimensions:
45 x 131 x 45 x 131
Zoning:
Residential-Multi-Family
Schools
School District:
558
District Phone:
6126680000
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$2,652
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$2,652
Income
Annual Gross Income:
$92,218
Rent
Annual Net Income:
$55,839
Units
Total Units:
6
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Sewer System:
City Sewer/Connected
Available Utilities:
Electric Separate
Water System:
City Water/Connected
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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 MRG Realty Partners, LLC.
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.