Property Description
11-unit all 1BR/1BA multifamily in Minneapolis's Corcoran neighborhood offered at $1,125,000 ($102,273/door). Just 0.3 miles from the Lake Street/Midtown Station light rail, tenants enjoy direct access to Downtown Minneapolis and MSP Airport without a car. The property has seen numerous capital upgrades including a newer boiler, updated electric panels, and energy efficient appliances, and is part of the Minneapolis 4D program providing low taxes and free energy efficiency upgrades. Many units have already been turned with real rent upside remaining on others, creating a clear path to growth on a simple, uniform unit mix that keeps operations straightforward and underwriting clean. Stable in-place cash flow with a potential NOI of $88,445 at a basis that still makes sense in today's market. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Please referance OM for more information.
Property Features
Property Type: Commercial - Business
Fuel Type: Electric, Natural Gas
Heating: Boiler
Lot Size: 0.18 Acres
Stories: 2.0
Taxes: $3,294
Year Built: 1960
Feature Descriptions
Current Use: Residential
Days on Site: 151
Foundation Size: 2448
Lot Dimensions: 63.00 X 125.00
Parcel#: 0102824220014
Parking: Parking Lot, Paved Lot
Sale Includes: Building, Fixture/Equipment, Land, Rental License
Sewer: City Sewer/Connected
Units: 11
Utilities: Electric Common, Electric Separate, Heating Common, Hot Water Common
Water: City Water/Connected
Local Schools
School District: Minneapolis
Listed By / Shown By
Listed By
Agency Name: Commercial Investors Group LLC
Agency Phone: 612-598-0780
Shown By
Agent Name: Brent Bartel, Broker
Agent Phone: (651) 461-3001
Agency Title: Counselor Realty
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3010 20th Avenue S | MLS# 7088900
This commercial property located at 3010 20th Avenue S, Minneapolis, MN 55407 is currently listed for sale with an asking price of $1,125,000. 20th Avenue S is located within the Minneapolis school district. Search Minneapolis real estate on www.thebartelgroup.com today.