For Sale: Minneapolis MLS# 6826530
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Property Description
3948 Oakland Avenue is a 5-unit multifamily investment opportunity located in the Bryant neighborhood of South Minneapolis. The property is comprised of three two-bedroom units, one three-bedroom unit, & one four-bedroom unit.
A new boiler was installed in 2019, and the building has 100-amp electrical service. The building is currently enrolled in the Minneapolis 4D program, providing a significant reduction in annual property tax expense. There are four single stall garages included at the property. All current tenants are on month-to-month leases.
The property is well located for easy access to I-35W, as well as for access to numerous additional South Minneapolis area amenities.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$640,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
4
County:
Hennepin
Year Built:
1920
State:
MN
Property Style:
Other
Zip Code:
55407
Neighborhood/Area:
6
Subdivision Name:
Abbotts & Sundbys Add
Exterior
Garage Spaces:
4
Foundation Size:
5,074 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
Detached Garage
Lot & Land
Acres:
0.12
Geolocation:
44.930835, -93.266624
Inclusions:
Building
Lot Dimensions:
43 x 118 x 43 x 118
Zoning:
Residential-Multi-Family
Schools
School District:
558
District Phone:
6126680000
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$2,310
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$2,310
Income
Annual Gross Income:
$80,651
Rent
Annual Net Income:
$44,302
Units
Total Units:
5
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.