6141 Nicollet Avenue,Minneapolis, MN 55419
Minneapolis, MN 55419
Description
THE NICOLLET AVE APARTMENTS OFFERS INVESTORS A HIGHER RETURN FOR THEIR MONEY THEN MOST DEALS ON THE MARKET TODAY!! THE OWNER HAS CAREFULLY RENOVATED EVERY UNIT WITH NEWER KITCHENS, NEWER BATHROOMS, ALL NEW LIGHTING AND PLUMBING FIXTURES, NEW CARPET, REFINISHED ORIGINAL OAK HARDWOOD FLOORING, AND NEW TILE AND QUARTZ COUNTERTOPS!! EACH KITCHEN HAS ALSO RECEIVED A COMPLETE STAINLESS-STEEL APPLIANCE PACKAGE THAT INCLUDES FULL-SIZE DISHWASHERS. THE LAUNDRY MACHINES ARE LEASED THROUGH BDS ON A REVENUE SHARED PROGRAM AND OFFERS RESIDENTS AN ELECTRONIC PAYMENT SYSTEM. THE OWNER HAS ALSO INCREASED REVENUE SIGNIFICANTLY BY IMPLEMENTING A UTILITY REIMBURSEMENT PROGRAM THROUGH RUBS. THIS ASSET WILL CHANGE HANDS FULLY RENTED AND STABILIZED WITH MARKET RENTS AND LEASES RUNNING THROUGH THIS FALL AND INTO SPRING 2026. THE CURRENT IN PLACE CAP RATE OF 7.93% IS BASED ON A NET OPERATING INCOME $137,250+
Details
| MLS # | 6699993 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1958 |
| Days On Site | 95 |
| Listing Provided By | Apartment Cash Flow, Inc. | Nathan P. Opatz |
Features
| SQ Feet | 12,000 |
|---|---|
| Basement | Y |
| Units | 11 |
| Zoning | Residential-Multi-Family |
| Acreage | 0.29 |
Interior
| Cooling | Window Unit(s) |
|---|---|
| Heating | Boiler |
| Appliances | Dishwasher, Range, Refrigerator |
Exterior
| Roof | Age Over 8 Years, Flat |
|---|---|
| Construction Materials | Brick/Stone |
Parking
| Parking Features | Paved |
|---|
Utilities
| Utilities | Electric Separate, Heating Common, Hot Water Common |
|---|
Taxes
| Property | 22595 |
|---|
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Listings courtesy of Northstar MLS as distributed by MLS GRID.
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Contact
Learn More About This Property
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55419 |
| Area | Windom |
| Community Name | Nicollet Heights |
| School District | 1 |