3010 20th Avenue S,Minneapolis, MN 55407
Minneapolis, MN 55407
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.
Details
| MLS # | 7088900 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1960 |
| Days On Site | 73 |
| Listing Provided By | Commercial Investors Group LLC | Mike Sowers |
Features
| SQ Feet | 7,344 |
|---|---|
| Basement | Y |
| Story(s) | 2 |
| Units | 11 |
| Zoning | Residential-Multi-Family |
| Acreage | 0.18 |
Interior
| Heating | Boiler |
|---|
Parking
| Parking Features | Parking Lot, Paved Lot |
|---|
Utilities
| Utilities | Electric Common, Electric Separate, Heating Common, Hot Water Common |
|---|
Taxes
| Property | 3294 |
|---|
Area Information
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55407 |
| Area | 16 |
| Community Name | Minnehaha Add |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in Minnehaha Add) | |
Price: $1,125,000 low | high Med: $399,900 sqft: 7,344 low | high Med: 3,000 $ / sqft: $153 low | high Med: $133 On site: 73 low | high Med: 78 | |
Market Activity 55407
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Listings courtesy of Northstar MLS as distributed by MLS GRID.
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Learn More About This Property
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55407 |
| Area | 16 |
| Community Name | Minnehaha Add |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in Minnehaha Add) | |
Price: $1,125,000 low | high Med: $399,900 sqft: 7,344 low | high Med: 3,000 $ / sqft: $153 low | high Med: $133 On site: 73 low | high Med: 78 | |