For Sale: Minneapolis MLS# 6824242
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Property Description
Excellent multifamily investment opportunity! This 12-unit apartment building offers strong upside potential through rent growth and strategic improvements. The property features solid units with functional floor plans, providing stable occupancy and consistent rental demand. Located near major transportation corridors, public transit, parks, and neighborhood amenities, this asset benefits from a convenient location for tenants and long-term demand for affordable housing. Ideal for investors seeking to expand their portfolio, implement value-add strategies, or secure a long-term hold in a growing rental market. Great opportunity for seasoned investors or 1031 exchange buyers. Schedule a showing to explore the income potential of this multifamily asset.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,000,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1969
State:
MN
Property Style:
Other
Zip Code:
55412
Neighborhood/Area:
79
Subdivision Name:
Camden Oaks Add
Interior
Appliances Included:
- Range
- Refrigerator
Exterior
Stories:
Three Or More
Garage Spaces:
0
Garage Dimensions:
0
Air Conditioning:
Window Unit(s)
Foundation Size:
3,128 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
Parking Lot
Lot & Land
Acres:
0.27
Geolocation:
45.035738, -93.307381
Inclusions:
Building, Leases
Lot Dimensions:
65 x 178
Zoning:
Residential-Multi-Family
Schools
School District:
558
District Phone:
6126680000
Expenses
Annual Electric Expense:
$1,014
Annual Fuel Expense:
$7,269
Annual Trash Expense:
$6,593
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$15,911
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$16,367
Income
Annual Gross Income:
$134,028
Rent
Annual Net Income:
$70,530
Units
Total Units:
12
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
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 eXp Realty.
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.