Sold: Minneapolis MLS# 6531642
Sold
$900,000 (list price)
$822,775
Commercial: Apartments
Built 1961
0.18 acres
Minneapolis schools
MLS# 6531642
Ask Sandi:
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
Located in the heart of the King Field neighborhood of Minneapolis. Rare opportunity to purchase
a true multi-family building in this neighborhood. The building has seven units: six - 1BR/1BA units
and one 2BR/2BA unit. A laundry room with coin operated machines and storage closets for
each unit. The corner lot includes seven parking spaces. A new boiler was installed five years
ago. The roof is three years old. Wall unit AC’s in each unit. Clean, well kept units. Solid original tile bathrooms, pink or blue, pick your 60's look. High occupancy rate and room for rent increases. Three blocks to cafes and restaurants and less than 10 blocks from Lake Harriet.
Listing
Listing Status:
Sold
Contingency:
None
List Price:
$900,000
Sold Price:
$822,775
Sold Date:
10/15/2024
Property Type:
Commercial
City:
Minneapolis
County:
Hennepin
Year Built:
1961
State:
MN
Property Style:
Apartments
Zip Code:
55409
Neighborhood/Area:
King Field
Subdivision Name:
Marsh & Bartletts 1st Add
Interior
Appliances Included:
- Cooktop
- Range
- Refrigerator
Exterior
Stories:
Two
Other Parking Spaces:
7
Air Conditioning:
Wall Unit(s)
Foundation Size:
2,860 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Boiler
- Radiator(s)
Parking Features:
Paved
Shared Amenities:
Coin-op Laundry Owned
Unit Amenities:
- Hardwood Floors
- Tile Floors
Road Frontage:
City Street
Exterior Material:
Brick/Stone
Roof Details:
Age 8 Years or Less
Lot & Land
Acres:
0.18
Geolocation:
44.924826, -93.284783
Inclusions:
Building, Land, Leases
Lot Dimensions:
60X131
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Insurance Expense:
$4,316
Annual Gross Expense:
$35,589
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$12,956
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$12,956
Income
Annual Gross Income:
$83,358
Rent
Annual Net Income:
$47,769
Units
Total Units:
7
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
Month | Principal | Interest | P&I | Balance |
---|---|---|---|---|
Year | Principal | Interest | P&I | Balance |
Local Home Mortgage Professionals
Listing provided by RMLS,
courtesy of Morgan And Trust 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.